Suprnov3r:


Using regionalism instead of religion does not make your argument more valid.

The muslim/northern farmer who refuses to increase price for cultural/religious reasons will not survive a free market economy and will always remain a subsistent farmer. We are a capitalist economy and PROFIT IS KING.

Profit at the detriment of the impoverished?
If that is how society works, I'd rather stay in the Zamfara and bear the burden of Sharia.

There are many honest businessmen and women making it big. I know some who own supermarkets and never increase prices for religious reasons. They fix all their profit margins at 5-10% and people patronise them more than any other supermarkets in the city.

danmasani101:
Cost of cattle, sheep, bags grains (maize, beans, millet, guinea corn etc) has all gone up in the north. Am sure you know the religion of most people that engages such businesses.

For God sake, why should you bring religious angle to the present inflation & recession been experienced


What is wrong with folks like you. Must you show your religious extremist in everything thing

Firstly, I am not a Muslim. Secondly, I am not a Northerner. Thirdly, I speak the truth and I don't care about the sensitivities of others who may be offended by it.

I grew up as a Southern Christian in the heart of Christianity in Nigeria and I know how we deceive ourselves. If I want to get something at the normal price, I go to Hausa quarters. That tells you the level of hypocrisy we exhibit. We maybe more business oriented but we are very dishonest in business and that's the truth. Let's not hide under any veil to color this fact.

fratermathy:


Your argument is sound. However, I doubt if it will suffice for items like okro, melon, water, beans, etc, that are locally grown and produced.

Like I said in the article, I don't have any prejudice for the genuine market factor increment but we have to understand that many retailers excessively add to their prices while some sell substandard products or even reduce the quantity of items for a higher price. How do we then reconcile the margin of difference?

Those people cultivating okoro, melon and Co., if at all the only thing they eat and make use of is their direct produce nothing else and don't leave their homes or trek to wherever they are going to then you would have been saying something reasonable. But that's not the case.

They bath with soaps, use creams after bath, take breakfast with milk and milo with sugar, ones in a while will want to drink a bottle of malt, beer or sweet drink. They also transport themselves if they are going far distance or want to bring their harvest home or send it to the market.

All these have increased in prices and increase their expenses too. They will have to transfer this increase to their own product too and sell at an increased price to cover up.

Hope this helps you understand it better.

futurenix:


Those people cultivating okoro, melon and Co., if at all the only thing they eat and make use of is their direct produce nothing else and don't leave their homes or trek to wherever they are going to then you would have been saying something reasonable. But that's not the case.

They bath with soaps, use creams after bath, take breakfast with milk and milo with sugar, ones in a while will want to drink a bottle of malt, beer or sweet drink. They also transport themselves if they are going far distance or want to bring their harvest home or send it to the market.

All these have increased in prices and increase their expenses too. They will have to transfer this increase to their own product too and sell at an increased price to cover up.

Hope this helps you understand it better.

Yes. I understand better. it's like a domino effect. A cycle of increments from the top to the bottom. However, permit me to reproduce what a friend of mine wrote elsewhere in response to the issue you've raised.


Post by Brenda Okolie:
Most of the sellers/traders I have interviewed have admitted to the purposeful increase in their prices with the excuse being that they need the extra income to meet the increasing rates of imported goods and services which they too are in need of. A farmer/trader once told me that he adds to the price of his palm oil in order to use the gain to procure such expensive commodity as rice, fuel and gas. He explained that if he sold his oil at very little above cost price, who then will make up his money for commodities like meat and rice?

I was stupefied but alas, it almost made sense. Except for the tiny fact the farmer didn't put into consideration: if we all align to the same logic as he, what then will be affordable in the market? How do we fight the continued inflation? If the rate of dollar to naira continue to increase and we are not able to provide locally manufactured goods to meet the demand of the masses, what then will be our fate?

It is sad, however, that Nigerians, in the cause for survival have totally abandoned their humane side and embraced the 'I, myself and mine' mantra. No one is bothered about his or her neighbour as far as his or her need is satisfied. It is indeed a terrible situation that we find ourselves and I do not see a way out unless we redefine our priorities and stand together to fight the enemy (which must first be identified), then and only then can we succeed in truly surviving because what we are doing now is nothing but 'cutting the nose to spite the face. '

fratermathy:


Firstly, I am not a Muslim. Secondly, I am not a Northerner. Thirdly, I speak the truth and I don't care about the sensitivities of others who may be offended by it.

I grew up as a Southern Christian in the heart of Christianity in Nigeria and I know how we deceive ourselves. If I want to get something at the normal price, I go to Hausa quarters. That tells you the level of hypocrisy we exhibit. We maybe more business oriented but we are very dishonest in business and that's the truth. Let's not hide under any veil to color this fact.

Cost of cattle, sheep, bags grains
(maize, beans, millet, guinea corn etc)
has all gone up in the north. I ask again what is religion/tribe of most people
that engages such businesses??

Am sure you don't like & know people in the north more than i do.

fratermathy:


Oga. Where they not transporting the goods successfully before the recession?

Let's forget about the price now now, what about those that sell substandard goods in the name of recession? I've bought items that are of far less quality for more in this period. Is that also because of foreign goods?

Are u saying recession didn't affect the cost of transportation? The farmers use imported thing and as these thing increase in cost they are bound to transfer the cost to their own product.

danmasani101:


Cost of cattle, sheep, bags grains
(maize, beans, millet, guinea corn etc)
has all gone up in the north. I ask again what is religion/tribe of most people
that engages such businesses??

Am sure you don't like & know people in the north more than i do.

Now answer me this: what on earth would make the cost of cattle, sheep, grains, etc go up if not for wickedness? Are these goods imported or affected by imports? The animals eat grass for crying out loud! The plants only take water.

The only argument is the cost of transport and we've been transporting these animals since time immemorial. If fuel has increased, the increase of the items should be proportional, not outrageous. Where I stay, a kilo of meat is now 800 against the 600 it used to be. Is the cost of fuel enough to warrant such a "surge" in price?

Again, if we also compare the prices of the items in the north, even with inflation, and in the South, you would see a large difference. Prices may have increased well but Southerners will add atleast 100% more to that increase to hit maximum profit.

Sibrah:
Are u saying recession didn't affect the cost of transportation? The farmers use imported thing and as these thing increase in cost they are bound to transfer the cost to their own product.

No matter how we look at it, some persons are deliberately inflating costs of products. See now:

Let's assume the previous cost of Melon was N100. With recession and market forces, the producers sell it at N120-150. The retailer, out of greed to make maximal profit, concoct stories of spoilt harvest and sells at N250. You see the drift? Is that normal?

fratermathy:


Now answer me this: what on earth would make the cost of cattle, sheep, grains, etc go up if not for wickedness? Are these goods imported or affected by imports? The animals eat grass for crying out loud! The plants only take water.

The only argument is the cost of transport and we've been transporting these animals since time immemorial. If fuel has increased, the increase of the items should be proportional, not outrageous. Where I stay, a kilo of meat is now 800 against the 600 it used to be. Is the cost of fuel enough to warrant such a "surge" in price?

Again, if we also compare the prices of the items in the north, even with inflation, and in the South, you would see a large difference. Prices may have increased well but Southerners will add atleast 100% more to that increase to hit maximum profit.

I ask again.............Cost of cattle, sheep, bags grains (maize, beans, millet, guinea corn etc) has all gone up in the north.
Again what is religion/tribe of most people that engages such businesses??

fratermathy:


No matter how we look at it, some persons are deliberately inflating costs of products. See now:

Let's assume the previous cost of Melon was N100. With recession and market forces, the producers sell it at N120-150. The retailer, out of greed to make maximal profit, concoct stories of spoilt harvest and sells at N250. You see the drift? Is that normal?

yes they are exergerating forex effect but not totally fraudulent.

danmasani101:


I ask again.............Cost of cattle, sheep, bags grains (maize, beans, millet, guinea corn etc) has all gone up in the north.
Again what is religion/tribe of most people that engages such businesses??

This post was never a religious/tribal debate so asking for tribe and religion is irrelevant to the discussion. I only illustrated the greediness of my people by juxtaposing them with Northerners. By Northerners, I don't refer to any one tribe or religion. There are also Christians in the North who may be inflating prices as there are Muslims in the South doing same.

Without attempting to digress this to a tribal banter, react to my previous post.

Now a can of viju milk is sold for 120 naira by hawkers and some stores in owerri.The same can is sold 150 in another location in owerri.
So people selling cheaper don't face the same economic ripple effects too?
It boils down to greediness and lack of human values.
I can list many items sold with big margins in my area. In Nigeria,both the government and the people are corrupt.

fratermathy:


This post was never a religious/tribal debate so asking for tribe and religion is irrelevant to the discussion. I only illustrated the greediness of my people by juxtaposing them with Northerners. By Northerners, I don't refer to any one tribe or religion. There are also Christians in the North who may be inflating prices as there are Muslims in the South doing same.

Without attempting to digress this to a tribal banter, react to my previous post.

You were the one that involved religion & northern/southern in your writeup, its either you didn't read what you posted or you are related to Lie Mohd.

Probably, you have never been to the north, so i will excuse your ignorance based on lack of exposure.

Someone been dishonest or exploiting others, has nothing to do religion/north/south.

fratermathy:


Firstly, I am not a Muslim. Secondly, I am not a Northerner. Thirdly, I speak the truth and I don't care about the sensitivities of others who may be offended by it.

I grew up as a Southern Christian in the heart of Christianity in Nigeria and I know how we deceive ourselves. If I want to get something at the normal price, I go to Hausa quarters. That tells you the level of hypocrisy we exhibit. We maybe more business oriented but we are very dishonest in business and that's the truth. Let's not hide under any veil to color this fact.

luv dis ur post it just d sad and bitter pill that no one will want to swallow.
greedy nigerians hold 70percent cause of recession in this country, i will keep saying it that for dis country to develop we will av to learn to love our brothers irrespective of tribe or religion as we luv our self shikena.

Seun:
dont. This is bad economics.

Why do you say so please?

Atleast for my knowledge. Besides, I am not an economist. Just a social commentator.

fratermathy:
Lalasticlala, Mynd44, Seun, Dominique, Fynestboi, etc. Can you do me the honor?

dont. This is bad economics.

mikkycoins:
Now a can of viju milk is sold for 120 naira by hawkers and some stores in owerri.The same can is sold 150 in another location in owerri.
So people selling cheaper don't face the same economic ripple effects too?
It boils down to greediness and lack of human values.
I can list many items sold with big margins in my area. In Nigeria,both the government and the people are corrupt.

That is exactly what the poster is trying to point out.

Ok, imagine milo/peak milk that is produced in the south west and have to be transported to the north, yet is still sold at the same price or sometimes at N10-20 less in the north than in the south.

Now tell me despite all that t.p frm the factories in the south to the mkt in the north who bear the tp fare?

One other thing , some sections of the traders are quick to tell you that shey its you that voted for change? Well this is the change. As if they are still angry over the lost of election that took place almost 2 yrs ago

Another very shallow post .The OP doesn't realise that palm oil sellers are people too, they buy drugs, they buy fuel, they pay school fees so how do you expect them to be able to afford other goods and services that have gone up if they don't increase theirs

This isn't news na.

I spit on Southerners

This artificial inflation reduces or spending power

idupaul:
Another very shallow post .The OP doesn't realise that palm oil sellers are people too, they buy drugs, they buy fuel, they pay school fees so how do you expect them to be able to afford other goods and services that have gone up if they don't increase theirs

So those of us buying are not people too?

If everyone increases prices of things exponentially because economy is bad, do you think we can afford anything in this country?

And most of you seem to misunderstand my post, Seun included, when I say that PEOPLE ARTIFICIALLY INFLATE PRICES even after the initial increment by the producers, the retailers, in a bid to make 100% profit, capitalise on recession to inadvertently increase the price of commodities, even far beyond the profit margin.

Horlufemi:
This isn't news na.

I spit on Southerners

This artificial inflation reduces or spending power

As in ehn... We are our own enemies!

fratermathy:


So those of us buying are not people too?

If everyone increases prices of things exponentially because economy is bad, do you think we can afford anything in this country?

And most of you seem to misunderstand my post, Seun included, when I say that PEOPLE ARTIFICIALLY INFLATE PRICES even after the initial increment by the producers, the retailers, in a bad to make 100% profit, capitalise on recession to inadvertently increase the price of commodities, even far beyond the profit margin.

Okay you mean some opportunist are over increasing margins just to take unfair advantage

fratermathy:


As in ehn... We are our own enemies!

They call themselves Christians and they are more selfish than the average. It's been long I've been to the market. 5liters of palm oil I bought @1500 then is now 4700?

We are our own nightmare

idupaul:


Okay you mean some opportunist are over increasing margins just to take unfair advantage

Yes bro. It is those opportunists that I am attacking here.

futurenix:
There is no doubt manufacturing companies who rely on forex are increasing their cost of production and I believe that's not what the OP is arguing about cause that will be so lame.

Let me use this garri producer as an example

I produce a bag of garri in a week and previously sell it at 12000 naira. Then I used to buy my peak milk for my breakfast at 100 naira, my sachet milo at 30 naira. I often transport my cassava to my home at 100 naira and to the market after production at 200 naira.

Now the company producing peak milk has increased their price dueto the unfavorable exchange rate and now sell to wholesalers at 100 naira which was initially sold to them at 80 naira while it's passed to retailers at 90 naira.

The wholesaler adds his usual 10 naira profit and said hey I bought kerosene to cook last week at 300 naira and other things have increased prices too. so I have to include extra 5 naira for this milk to cover for those extra cost on those my daily needs. He now sells to retailers at 115 naira.

The retailers who normally buy at 90 naira and and sell 100 naira will also add their 10 naira profit and since they have also realized their daily expenses has increased will add 5 naira to cover it and now sell at 130 naira to the consumers and I the garri producer will now buy the milk that used to be 100 naira at 130 naira.

Probably while bringing his garri he noticed the transport to the market has also increased from 200 naira to 300 naira. Probably the Danforth man has also realized his daily needs like soaps, milk, milo etc has also increased in price so he will have to top up his cost too.

Same goes for the milo I used for my breakfast and my bread too.
OP, if you were this garri producer will you still sell your bag of garri at 12000 naira?

That's called a "ripple effect" in economics if at all your economics teacher taught that.
It's ripple because it transfers.

You just finished work with this. Thank you.

Seun:
dont. This is bad economics.

God or Atheist bless you

lovat:
God or Atheist bless you

For what? For simply saying "bad economics" without providing any explanation? Is that how to show that you are a "good economist"?

This article will be published in a national daily tomorrow.

Make Seun swerve abeg.

fratermathy:


For what? For simply saying "bad economics" without providing any explanation? Is that how to show that you are a "good economist"?

This article will be published in a national daily tomorrow.

Make Seun swerve abeg.

i want to see it on Wall Street Journal.


Any daily that publish this thing needs the Editor to be sacked for being daft

lovat:
i want to see it on Wall Street Journal.


Any daily that publish this thing needs the Editor to be sacked for being daft

I'll give you the link, don't worry. Afterwards, go and sack the editor.

fratermathy:


I'll give you the link, don't worry. Afterwards, go and sack the editor.

Nonsense article.

lovat:
Nonsense article.

So says the person who is not able to present facts and critique a piece. You and Seun are both myopic. You shove a work aside without giving the courtesy of why. So others who have been presenting their analysis, whether good or bad, are fools abi?

Oya write your own and let's see if you can even string sentences together.

fratermathy:


So says the person who is not able to present facts and critique a piece. You and Seun are both myopic. You shove a work aside without giving the courtesy of why. So others who have been presenting their analysis, whether good or bad, are fools abi?

Oya write your own and let's see if you can even string sentences together.

Why should i take out time to pen down this type of trash? You brought in your bigotry & an archaic mindset to Nairaland. Forward it to daily trust where your types are the pensioner there