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Nairaland Forum / Nairaland / General / Business / Why Are Nigerians So Quick To Accept Inflation? (24534 Views)
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Re: Why Are Nigerians So Quick To Accept Inflation? by meobizy(f): 12:39am On Nov 06, 2021 |
1496s:AchalugoNwa, my friend. |
Re: Why Are Nigerians So Quick To Accept Inflation? by pacificom: 12:42am On Nov 06, 2021 |
Because Nigerians have no sense of freedom. 1 Like |
Re: Why Are Nigerians So Quick To Accept Inflation? by blaksril(m): 12:43am On Nov 06, 2021 |
blaksril: 1 Like |
Re: Why Are Nigerians So Quick To Accept Inflation? by meobizy(f): 12:47am On Nov 06, 2021 |
1496s:Lol. |
Re: Why Are Nigerians So Quick To Accept Inflation? by meobizy(f): 1:01am On Nov 06, 2021 |
1496s:AchalugoNwa, is Nkechi there? Tell her she owes me 15 naira. |
Re: Why Are Nigerians So Quick To Accept Inflation? by HIGHESTPOPORI(m): 1:54am On Nov 06, 2021 |
SeaTrade:By reducing quality? |
Re: Why Are Nigerians So Quick To Accept Inflation? by redsun(m): 2:12am On Nov 06, 2021 |
Because there are no inflation and price indices in Nigeria. No rules, no regulations. |
Re: Why Are Nigerians So Quick To Accept Inflation? by jadajada: 2:58am On Nov 06, 2021 |
What alternative do we have to the increase in price of gas? |
Re: Why Are Nigerians So Quick To Accept Inflation? by sicily4u: 3:05am On Nov 06, 2021 |
That's why I like Senegal just try to increase #1 and the citizens will do protest immediately, no increment in anything for more than 10yrs, transport and other goods |
Re: Why Are Nigerians So Quick To Accept Inflation? by Papichulostunne(m): 5:03am On Nov 06, 2021 |
SeaTrade: Oghene Biko i no know oh..!! Help me ask them oh. It only give the brands/sellers the boldness to increase the price after a week or two, afterall,people must buy. |
Re: Why Are Nigerians So Quick To Accept Inflation? by WHITELIGHTER: 5:10am On Nov 06, 2021 |
Is there alternative to bread... because it's now 800 here, used to be 250 |
Re: Why Are Nigerians So Quick To Accept Inflation? by WHITELIGHTER: 5:15am On Nov 06, 2021 |
The problem still stems from our fellow Nigerians...once they form union and agree oka certain price...they don't care how it affect the local man..come to Benin and find out how things are ridiculously expensive 2 Likes |
Re: Why Are Nigerians So Quick To Accept Inflation? by IAMPEDRO: 6:07am On Nov 06, 2021 |
Let's start to stage a protest against price hike and you won't see any body. Las las only me fit carry cardboard, Waka my Waka. |
Re: Why Are Nigerians So Quick To Accept Inflation? by IAMPEDRO: 6:11am On Nov 06, 2021 |
SeaTrade:How do we go about bread and gas? |
Re: Why Are Nigerians So Quick To Accept Inflation? by IAMPEDRO: 6:24am On Nov 06, 2021 |
Cromagnon:follow that step if they won't change. Na you dey reason na say wetin change, when a company lose a customer it will reflect. |
Re: Why Are Nigerians So Quick To Accept Inflation? by Nobody: 6:53am On Nov 06, 2021 |
SeaTrade: I mean alternative products with competitive price, I have not seen any. Maybe you can give me an example |
Re: Why Are Nigerians So Quick To Accept Inflation? by Reference(m): 7:18am On Nov 06, 2021 |
The OP and most responders donot understand how economies work in capitalist societies such as ours. Inflation is a macro economic influence... infection of sorts, that has no single individual entity, business, enterprise, company as a vector uptil a point when that individual or corporate entity's economic footprint exceeds the combined productive capacity of the rest of the country. This means that no matter how powerful that individual is, that company or union is, it cannot trigger a cascade of price hikes across the entire economy if the economy remains resilient. Thus the source of inflation is always at the place of control of economic activity, which is domiciled with government. Practically speaking. If a bag of Dangote cement remained N800 where it was two decades ago, it will have absolutely no effect on the cost of a bag of rice, or a trip to Lagos by air or a litre of petrol at the pumps and vice versa. It is the forces of national administration that control the rudder of overall productivity in an economy that determine what things cost on the shop floor everywhere in the world. Because of that, good governments always keep a keen eye on inflation with fire extinguishers at a ready. Politicians fear it more than popular insurrections. Citizens demand government action at the slightest hint of it. And finally, at the polls they elect leaders who understand its dangers and are intellectually equiped to handle it. Unfortunately... Not in Nigeria. |
Re: Why Are Nigerians So Quick To Accept Inflation? by Toseenlove: 7:19am On Nov 06, 2021 |
Bigchristo: At the bolded...... 1 Like |
Re: Why Are Nigerians So Quick To Accept Inflation? by SeaTrade(m): 7:23am On Nov 06, 2021 |
FreelanceRebel:budweiser now N600 ,hero remains 300 retail. |
Re: Why Are Nigerians So Quick To Accept Inflation? by Rinato(m): 7:39am On Nov 06, 2021 |
It's simply because most Nigerians are ”stupid" SeaTrade: 2 Likes |
Re: Why Are Nigerians So Quick To Accept Inflation? by Nobody: 7:44am On Nov 06, 2021 |
SeaTrade: You ehn. Very funny. But hero is not a small business na, and not everybody drink na |
Re: Why Are Nigerians So Quick To Accept Inflation? by Toseenlove: 7:48am On Nov 06, 2021 |
bigpicture001: That your gurl should prepare for spiritual attack soon. She better go fortify herself very well because Most Nigerians are Evil..... 1 Like |
Re: Why Are Nigerians So Quick To Accept Inflation? by SeaTrade(m): 7:49am On Nov 06, 2021 |
FreelanceRebel:Cuts across boards of most finished products. Sardines,sugar,rice,alcohol,toiletries,etc... |
Re: Why Are Nigerians So Quick To Accept Inflation? by bigpicture001: 7:51am On Nov 06, 2021 |
einsteine: I love this! |
Re: Why Are Nigerians So Quick To Accept Inflation? by Reference(m): 7:52am On Nov 06, 2021 |
IAMPEDRO: Indeed. Apart from the fact that in most cases there are no alternatives, is there any economic sense in shrinking the competitive space by boycotts. As an example. If one out of the big 4 telecos were to hike its tariff and thus commit economic suicide by consumer boycott, isn't it more than likely the consumer will ultimately lose out down the line to the impending forces of monopoly. These are the reasons why I say, inflation is not an individual malaise but a general one of which the only solution lies with those who pull the strings and levers of productivity, government. When prices/costs rise it is them that tinker with demand and supply through credit, tariffs, ease of doing business, subsidies, andcall the tools they have to influence macro economics in general, all in a bid to regulate productivity. To cool it down if it is too hot and to heat it up if it is too cool. You can see what the US is doing for instance about energy prices. Urging OPEC to open up the taps because inflation is rising in the States. While over here government is doing NOTHING, ZERO, about rising energy prices. Americans, British, Europeans are not saying let us boycott gas, fuel or boycott one fuel station/company or another. They recognise what the problem is and work with their governments to take action because that is the level at which it can be tackled. Here we are still beclouded with sentiment so as a people cannot summon a unified demand for concerted action to tackle the worsening economy. |
Re: Why Are Nigerians So Quick To Accept Inflation? by Lordofalmajiri(f): 8:03am On Nov 06, 2021 |
WHITELIGHTER:garri |
Re: Why Are Nigerians So Quick To Accept Inflation? by Beninwitch: 8:19am On Nov 06, 2021 |
MartinsD12: Pls where did you get the power bank? Computer village? I need one. Thanks. L) |
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