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Nairaland Forum / Nairaland / General / Food / Are some retailers deliberately hiking prices? Whats happening In Nigeria? (22800 Views)
THREAD For Foodstuffs Retailers, RESTAURANT OWNERS, Food Bloggers Only / Inflation: What Is Happening Pls? / Happening In Owerri (2) (3) (4)
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Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by yarimo(m): 8:43pm On Feb 29 |
BItt:Gbam |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by ivolt: 8:43pm On Feb 29 |
To all those attacking retailers. Some of you have the means to setup a retail store too. Just do it and sell at 30-50% lower price. Your customers will thank you. 2 Likes 1 Share |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by ivandragon: 8:48pm On Feb 29 |
Funny people. Trying to shift the blame from Government to those who are just trying to make ends meet. How much is the profit margin on most of the goods retailers sell? Some less than even N50. You guys left the government that arbitrarily increased fuel prices and are attacking the ones trying to make ends meet. You think the retailers don't also want to build houses and drive cars? You think they don't have kids to send to school? You think they don't have electricity, hospital and other bills to pay? Or you think the goods in the shop just magically reproduce themselves? A president admitted that subsidy cabals that made fuel subsidy unsustainable met with him, yet, he has done nothing to go after them. Rather he shifted the burden to the masses, yet some persons are trying to blame the same masses. Like someone said, the government has created the situation that is being exploited by some people. 1 Like |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by ivandragon: 8:49pm On Feb 29 |
ivolt: Abi ooo. After all their common cry is everybody should go to farm. So let everyone become retailers too. |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by Lithiumite: 8:50pm On Feb 29 |
RepoMan007: Like I always like to point out to people that many of us Nigerians are misdirecting our labor and money is in the wrong places......many people who are in the cities doing petty trading,riding okada,doing menial jobs are better of in the rural areas doing far more productive things like agriculture and boosting local economy rather than deserting the rural communities. 2 Likes |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by Timoleon(m): 8:51pm On Feb 29 |
Offpoint1:Omo this Tinubulation hold you o. Usually, you take the offpoint route. But on this subject, you just stay on point. |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by Tom1960: 8:52pm On Feb 29 |
In Nigeria, most traders don't see cheating as a sin. But the same people will wail when the government cheat them too. We are out problem my brother. |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by meemee(m): 8:52pm On Feb 29 |
Oh!! You just dey find out now? Tell me, who did you see controlling the price hike madness. The retailers were busy taking advantage of the despicably porous system. |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by Kennyswag: 8:59pm On Feb 29 |
Things are cheaper in supermarkets than the rubbish igbo owned 2x2 shops. |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by IbeOkehie: 9:00pm On Feb 29 |
Maybe the economics is too difficult to comprehend. There's no DELIBERATE price increases. Price is price. Participants in a market demand OR offer a price that depends on prevailing circumstances. Simple as that. If you doubt this, simply do the following - put yourself in the place of a business and imagine the factors that go into setting a price. I'm no economist but I'm informed enough to have a credible take on what might be happening. First, let's state an INCONTROVERTIBLE FACT...the money supply in Nigeria, meaning the RAW amount of naira in circulation, has increased exponentially since the election of President Buhari in 2015. Since the audited accounts of CBN were made public about a month ago, the gargantuan scale of money printing has been exposed. On my comment history you can find full page policy papers by Bola Tinubu from 2013 advocating massive money printing to promote economic growth, and Okonjo-Iweala replying with a warning that it will cause inflation. On that score, APC kept their promise and printed and printed and printed. Printing money over and above the rise of productivity causes inflation. How? Basically it forces the government to raise interest rates. Just two days ago the CBN raised interest rates from 18 to 22%. Businesses have been anticipating this rise in borrowing costs and therefore increased prices to compensate. Over here in the USA the business community is anticipating a DECREASE in rates, there's debate if it will happen, but I'm trying to illustrate that such ANTICIPATION has an effect on business activity and choices made by producers. Anyway, I trust Nigerians to never get it right. Nobody ever lost money betting against Nigeria or more importantly, betting against Nigerians Good Luck to Nigeria! |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by freetunchi: 9:00pm On Feb 29 |
Some people are even hoarding it. Just like a lady I usually Patronize I told her I needed a carton of Indomietable she said she doesn’t know the price for now meanwhile she has it stocked in her shop waiting for the price to increase before selling… After we’ll be blaming the government not knowing we are part of the problems too..! |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by Panda7: 9:02pm On Feb 29 |
oga call police on them, you never price for 7 different shops yet, you dey buy from one same woman. |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by OlujobaSamuel: 9:03pm On Feb 29 |
Offpoint1:What drives price of garri is cassava. The Nigerian commodity market is determined by FX which is dollars, so for the producers of garri to get cassava for their use, they need to rival the price of exporters. I think govt need to address the issue of exporting raw materials and commodity, if we start exporting finished products majorly, so many traders won't hide under that nonsense of FX rate |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by CorrectionFLuid: 9:04pm On Feb 29 |
RepoMan007: Do you even know what you're saying abi you just wan talk |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by electhnd(m): 9:17pm On Feb 29 |
BItt: Pls tell me how are we our problem, u are not a business man u can't understand anything You bought something 350 ..... Are u supposed to sell it 250?? Think before your comment here |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by electhnd(m): 9:19pm On Feb 29 |
Rickmann:Did the retailers steal the product, They bought from an indomie shop, u can't expect them to sell lesser than they bought it |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by electhnd(m): 9:28pm On Feb 29 |
Joemiexx:Pls note They did not product the spag or indomie, They bought it..... And u can expert them to sell it lesser than the amount |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by electhnd(m): 9:29pm On Feb 29 |
olax02:Have you tried finding out those price from where they are buying it, |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by mkoabiola: 9:31pm On Feb 29 |
Nigerians are jus deliberately wicked Evry hike is on dollar. We have nver had it so bad as ds |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by Octopusssy(f): 9:38pm On Feb 29 |
Lalami3232:So how does the bolded correlate with what you initially wrote and the topic of discussion?? Do you realize how incoherent and unintelligent you sound? Don't bother responding. You will only bleat more gibberish 1 Like 1 Share |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by Adexvivacity(m): 9:41pm On Feb 29 |
slaawomirr: This looks like the first time u are making sense may be because I hate fraudsters and you are a proud one 1 Like 1 Share |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by imam07: 9:49pm On Feb 29 |
The middle business men. I mean those in sole distribution of goods to d retailers are the problem of Nigeria at d moment. Also these traders associations are d real devil causing inflation. If this govt can ban all these traders associations and allow individuals to sell or produce service to consumers freely. This problem will solve. Association of yam sellers, Association of charcoal sellers Association of barber and tailor Association of tranporters Association of bread producers Association of tomato and pepper etc should be eradicated in d society. Govt should set a body to be in charge of these people. See as grains are very costly in d market. These wicked people will just wake up early in the morning and just increase prices. |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by Melagros(m): 9:53pm On Feb 29 |
BItt:When I made similar comment to this your own, they almost lynch me here for nairaland |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by iamdapsyj(m): 10:03pm On Feb 29 |
slaawomirr: You are making sense for once 😆 1 Like 1 Share |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by TheTravelingOne(f): 10:06pm On Feb 29 |
Facts!!! slaawomirr: |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by tnerro1(m): 10:06pm On Feb 29 |
Imagine inverter battery that used to be 190k is now 440k, haba now, Nigerians are wicked people |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by Soulifting: 10:07pm On Feb 29 |
Its 3600 in olorin [Aquote author=Offpoint1 post=128712192]They are. Once they heard price of dollar has increased, these folks will automatically increase the prices of items. I keep wondering if Naira is Nigeria currency or dollar. The one I can't fathom till date is garri. No part of garri processing involves dollar, but the price keeps skyrocketing. When I entered Lagos 2018, a paint rubber of garri was sold N400. How it becomes N2500 today I don't understand. [/quote] |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by adecz: 10:10pm On Feb 29 |
Omenlon: "Move on" to where❓❓ In Nigeria under APC, genuine certificate are meaningless. The bandits, beloved by APC are the single most successful group of people under APC government. They possess no qualifications or infrastructure whatsoever, but rake in tens of billions yearly❗️❗️ Maybe you are one of them. |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by themanderon: 10:13pm On Feb 29 |
The average Nigerian is always seeking to take advantage of his fellow citizens and it ain't stopping soon unless this wicked and untoward generation passes away. |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by Ulogwe1: 10:14pm On Feb 29 |
ivolt: Thank God you the second shop had old stocks that's why they are selling like that. But are you aware, some persons with old stocks just hike their price to the current price. |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by modernWays: 10:17pm On Feb 29 |
Bfly: Even when they have no business with dollars. Nigerians from heads to toes are terrible beings. Imagine a common trader who doesn't own a machine to produce or imports good hiking the price upon hearing dollar has increase in value. This country can never amount to anything with the set of her inhabitants called Nigerians. |
Re: Are some retailers deliberately hiking prices? Whats happening In Nigeria? by lapintoz: 10:18pm On Feb 29 |
GBAM ! 💯 CORRECT slaawomirr: |
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