NaBanga:
I'm sorry to say that this is a global issue. It's not a Nigerian issue. I am in the US and the cooking oil I purchased last year is almost double this year. The building wood we purchase has gone up between 25 to 50% depending on where it is purchased. The only incentive the US has is the system in place that will help poor people, but regular middle class workers are having to cut back on everything. The coronavirus has dealt with everyone by slowing down shipping and increasing demand. As a result, prices went up in all sectors globally.

MJlee31:
I have been thinking about this for a very long time, everything increase in price in Nigeria everyday as a student of ECONOMICS it baffles me a lot that what can or may cause the persistent rise in prices of goods? But the truth is aside the economy factors some people just want to make profit unnecessarily by adding to the price. The only way this can stop is the government should put up an agency that will check the activities of these people, because they are making life tough.

pak:


Buhari implemented price controls as a military leader and it ruined the economy.
One of my colleague's Granddad was a victim, he was forced to sell his grains at below landing price, he finally closed his ware house and never recovered

Market forces particularly the forces of demand and supply control prices. Governments that tries to control prices end in tragedy, leading to hoarding, scarcity and black markets.

Government should focus on making it easier for suppliers to get to the market. The process should be faster and cheaper. A boost in supply will always push prices down

nisai:
Gbam!

Thinktwicemybro:

Read what you wrote again and ask yourself if you have sense. She bought laptop in January for 30k, and now that laptop is 50k. You expect her to still sell it for 30k? Are you alright atall ?
If she sell it for 30k what will be her profit and how will she buy another stock. Learn to think abeg.
The problem is your government policies and not the seller. Your government subsidized petrol but leave the dollar floating without regulation. Prices for goods were stable under GEJ government because dollar was subsidized and fixed at #199. It's no rocket science, enjoy your buhari that does not even have the balls to remove fuel subsidy.

Offpoint1:
That's why you need street sense and bargaining skill...

If an igbo man gives you 15k starting price... kindly respond with "You no collect 5k" from their you 2k max, don't go above 7k.
If an Hausa man gives you 10k starting price... respond with "you no collect 6k"? add 1k to it as last price.
If a Yoruba gives you 10k starting price, respond with "you collect 4k" add 2k it as final price....

Don't pronounce the "Collect" correctly, pronounce it as "Ke-lect"

Stevenson1:




You want a business man that experience rise and fall of dollar to give you an ox fan the same price it was when dollar hiked?? You must be dreaming.
You want an Igbo man to sell ox fan for you below cost price then he will go to your salon to use 1500 to cut hair, buy fuel 175, then pay his kids increment school fees, then buy foodstuff costly
The problem is Nigeria not business men. Business men are just doing business.
Nobody opens a business to loss money.

BabaIbo:
I wonder how you all think sef.

So you think the problem is the business people, especially the Igbo men like you said?

Listen, nobody increases the prices of their goods without a reason.

I remember sometimes I made an order, I called the company to confirm the price, and I sued that price to do my calculations and sent the money afterward.
Normally, they were supposed to load send my goods but I didn't see my goods.
I have to call and I was told to send extra money(no be small money o) because what I sent was not the right amount, he said the prices has change.. This is less than 24 hours.

This week, I made enquiry on a very scarce product and ask the guy to get it for me about an hour later, the rise in price was over 5k+ per carton.
So you expect me to leave the one I have in stock at the old price or sell the new one at the old price when it arrives?

You want someone to sell at old price, then add money to buy new stock?



Those of you saying, I went to one shop and they gave me one price, but I got it lesser in the next or other shops, don't know how business works.
The next shop may be selling old stocks ignorantly of the new price, they will only know of the new price when they order for new one.
While the first one already has the idea and trying to change their price gradually.

I'm not saying people don't exploit but don't exaggerate OR generalize it.

Omotosho1090905:


We are the government, we are making this nation unbearable for ourselves

Felimax:
Government agencies responsible for control no longer care.
Things like these are what you get when your president refers to a portion of Nigeria as a dot in the map.
A grain of sand can be very tiny but becomes so big when it enters the eye. Are you feeling me?

Moneyboyz:


Yes I do, the rate at which things go up fast is depressing.
There is this chandelier I bought for my house for 50k, another person bought it in alaba for 27k.
Before she sold it for me at 50k sef na war, she said something about prices of things expensive in the market whereas they are the one inflating it.

BlackfyreRebell:
That was how one useless fvcker almost cheated me.
I wanted to buy a teatree facial scrub,the price tag on it says 1400 only for the woman to tear it out and said it's 2400 cos it's now expensive in the market.

Wtf! I changed it for her that moment. Imagine selling something old you bought cheap for a price of new cos it's now expensive.

Brokeloser:
Majority of Nigerians are criminally minded.I wanted to buy something recently.The woman said 500 last,I checked another store and I got it for 350.

Omotosho1090905:


We are the government, we are making this nation unbearable for ourselves

Moneyboyz:


Yes I do, the rate at which things go up fast is depressing.
There is this chandelier I bought for my house for 50k, another person bought it in alaba for 27k.
Before she sold it for me at 50k sef na war, she said something about prices of things expensive in the market whereas they are the one inflating it.

mrvitalis:

How do u define moderate profit ? People just talk as if their is manual to business

Nestle by less than 2 billion dollars worth of cocoa make over 30 billion in sales of chocolate have u called them out ,?

As long as the person agrees on the price u are willing to sale it's not a bad thing ok

Starbucks sales a cup of coffe how much ? Would u call them greedy ? Make your coffee at home

Authoreety:
dah one na ur business..

alphaNomega:
So you're telling me shipping has not returned to pre-COVID levels by now? Forget it, people are exploiting the COVID-19 narrative to cheat customers

Moneyboyz:
This has been going on for a while now and it's very annoying and criminal.

I went to the market to buy an ox standing fan, a friend of mine bought his 39,000 naira a few weeks ago but he didn't disclose the price cause I didn't ask.

I went to the market to get mine about a week ago and bought same fan for 44,000 naira.
I felt embarrassed and cheated and I'm sure I'm not the only one who has felt this way.

I'm very angry right now that whenever I go to the market to buy something and they start calling figures I ask them what is the price that even if I go elsewhere I will get it for that excat price.

This is a common trend among Igbo boys but now Yoruba and Hausa people have followed suit..

Right now I don't even know the price of fish and other food stuff cause they will first try to extort you by calling some big numbers, it's only through strict negotiation and perseverance that you will get something in the marketplace for the actual price that won't hurt both parties.

I think inflation in Nigeria today is what we made it and not what the government did, I can remember when pepsi and other soft drinks are being sold for 100 naira, some people started selling theirs 120 cause it's extra cold/frozen.

Before we know what's happening pepsi and others increased the prices of their drinks because they realised we are still buying even though it's being sold at enormous prices.

What is the government doing to control these prices? Hopefully someone would ask Mr president and the appropriate authorities on my behalf.

femicyrus:

You bought the old stock.

She will have to add more money to replace that goods in her store due to increasing dollar rate that is creating a habitat for inflation to sky rocket

mrvitalis:

How do u define moderate profit ? People just talk as if their is manual to business

Nestle by less than 2 billion dollars worth of cocoa make over 30 billion in sales of chocolate have u called them out ,?

As long as the person agrees on the price u are willing to sale it's not a bad thing ok

Starbucks sales a cup of coffe how much ? Would u call them greedy ? Make your coffee at home

Felimax:

Things like these are what you get when your president refers to a portion of Nigeria as a dot in the map.

mployer:
The price of goods increased the moment dollar increased to 580.

The reason for the everyday increament is because the traders are gradual in implementing the price increament to avoid shock response from customers.

The increament will continue until equilibrium price is attained.

The traders bear part of the burden just to keep you as a customer but y'all won't know.

tonididdy:

Over profit is a sin in Islam and in the Bible.
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