FCCPC Gives Traders 1-Month Deadline To Crash Prices Of Goods - Politics (5)

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FCCPC Gives Traders 1-Month Deadline To Crash Prices Of Goods - Politics (5) - Nairaland

Nairaland Forum / Nairaland / General / Politics / FCCPC Gives Traders 1-Month Deadline To Crash Prices Of Goods (29359 Views)

Hardship: Sanwo-olu Urges Agro, Food Processing Companies To Crash Prices / Government To Release Food Items From Reserves To Crash Prices / Lagos Gives Traders At Computer Village POWA Complex 24 Hours To Vacate Property (2) (3) (4)

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Re: FCCPC Gives Traders 1-Month Deadline To Crash Prices Of Goods by creativejagaban: 8:29pm On Aug 29

nlfpmod:

https://nairametrics.com/2024/08/29/inflation-fccpc-gives-traders-one-month-deadline-to-crash-prices-of-goods-across-nigeria/

The first to complain will be the sad yeast people that always accuse the FG of high cost of goods....and when the FG is making efforts to do the needful, the 'dissi-dents' will throw caution to the wind like pidom and start abusing. No be juju be that grin

Re: FCCPC Gives Traders 1-Month Deadline To Crash Prices Of Goods by Charly68: 8:30pm On Aug 29

Some nigerians are wicked and devilish yet tbey blame the political class for the problems they create .God will punish them

Re: FCCPC Gives Traders 1-Month Deadline To Crash Prices Of Goods by OJojossy10: 8:30pm On Aug 29

nlfpmod:

https://nairametrics.com/2024/08/29/inflation-fccpc-gives-traders-one-month-deadline-to-crash-prices-of-goods-across-nigeria/

Newly appointed chairman of Fccpc

Oh! Na initial gragra just the worry this one, he wants us to know that fccpc now have a new chairman.
In two weeks time now, there will be few envelopes here and there, and we all go back to the status quo.

1 Like

Re: FCCPC Gives Traders 1-Month Deadline To Crash Prices Of Goods by IfnobeGod20: 8:31pm On Aug 29

No doubt there's an arbitrary price fixing by many retailers. Many goods bought at cheaper rate by the producers, they go selling it at exorbitant price at the retail end.
The unpatriotic behaviour of some sellers is out of this world.

Re: FCCPC Gives Traders 1-Month Deadline To Crash Prices Of Goods by Dwightventures(m): 8:33pm On Aug 29

In 2024! Lol. Kai, Nigeria. So we want to resurrect Buhari 1984 system.

People will be angry about what I said because of their level, but the people running the country? With all their never ending paper they gave them after wasting their time in all manner of silly institutions? I thought at the very least they would know juuuuust a little better. But no -- they're all brutes together.

Nigeria is a joke

Re: FCCPC Gives Traders 1-Month Deadline To Crash Prices Of Goods by IfnobeGod20: 8:35pm On Aug 29

creativejagaban:

The first to complain will be the sad yeast people that always accuse the FG of high cost of goods....and when the FG is making efforts to do the needful, the 'dissi-dents' will throw caution to the wind like pidom and start abusing. No be juju be that

Why are you people always turning every issue to tribal engagement? Please what brought about this your bile filled comment abeg? Can't you people just comment base on the topic and move on, until you turn everything to ethnic colouration and by the time they reacted, you will start complaining they are wild and that. Please be reasonable and stay within thread.

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Re: FCCPC Gives Traders 1-Month Deadline To Crash Prices Of Goods by Bobxin(m): 8:38pm On Aug 29

bigpicture001:
They just convert the exchange rate and compare the prices in the US and Naija...failing to consider the following:

Cost of shipment bro Naija

Cost of clearance in Naija

Cost of transportation to Ur location

Cost of taxes on each goods sold brought about by the numerous Lagos taxes

Cost of loan for running the business

Cost of other things one can buy with ones profit when the goods is sold

Cost of rent for Ur business place

Govt never serious...

He said, he was wondering how the price of the fruit blender got to #900k + like he had no knowledge to take the above into consideration.

Re: FCCPC Gives Traders 1-Month Deadline To Crash Prices Of Goods by bentenny(m): 8:44pm On Aug 29

In his remarks, Bello cited a finding by the Commission, highlighting that a fruit blender known as Ninja, priced at $89 (N140,000) in a popular supermarket in Texas, was being sold for N944,999 in a supermarket located in Victoria Island, Lagos.

I have some questions about this interesting remark by bello.....

How much is used to transport that product from USA to Nigeria including tax that is in dollars?
How much tax is used to clear the products from the ports?
How much is used to transport that product from the port to the required destination bearing in mind that a premium is paid at the port to ensure an earlier release of those products?
Finally,if the supermarket total the funds used to get the product from it's destination USA to it's domain which is let's say 900k without adding it's profit,how do you expect such supermarket to sell it at $89 when the burden of getting it to the country is six times the amount sold in USA?

1 Like

Re: FCCPC Gives Traders 1-Month Deadline To Crash Prices Of Goods by toprealman: 8:45pm On Aug 29

Yes they pick it up free of charge. With your reckless tax system, traders should run NGO by fire by force!

Re: FCCPC Gives Traders 1-Month Deadline To Crash Prices Of Goods by toprealman: 8:46pm On Aug 29

bentenny:

I have some questions about this interesting remark by bello.....

How much is used to transport that product from USA to Nigeria including tax that is in dollars?
How much tax is used to clear the products from the ports?
How much is used to transport that product from the port to the required destination bearing in mind that a premium is paid at the port to ensure an earlier release of those products?
Finally,if the supermarket total the funds used to get the product from it's destination USA to it's domain which is let's say 900k without adding it's profit,how do you expect such supermarket to sell it at $89 when the burden of getting it to the country is six times the amount sold in USA?

He should post the brand let’s fact check.

Re: FCCPC Gives Traders 1-Month Deadline To Crash Prices Of Goods by FaradayIQ: 8:58pm On Aug 29

Confuse fools, you want food prices to crash down when fuel is #970 per litre.
Jokers everywhere

Re: FCCPC Gives Traders 1-Month Deadline To Crash Prices Of Goods by LAFOCUZY: 9:03pm On Aug 29

Dynamicboss:
Let’s analyze here

Price of the fruit blender in Texas - N140,000

If I buy at this price and ship it via air to door delivery, delivery cost maybe up to N100,000

I need to pay customs duty fee up to N100,000

I need to pay staff plus maintenance cost and tax, let’s
say N90,000 to N100,000 sha from the proceed.

If I make profit of N200,000

The total amount should be N650,000

Now the supermarket is selling for N950,000.

Well the government officials are not far from the truth, people are extremely greedy in this country. Though, the same government making mouth, did they realise the cost of running business had hit the roof? Fuel is almost N1,000 which is affecting almost everything in the country.

Think about cost of capital at current interest rate of 35%
Cost of diesel
Cost of insurance
Have yiu considered rent
Hiw about impact of fx fluntuation that yiu need to anticipate and sell a bit higher than current fx, should.fx number move north when yiu are ready to make next import.

Re: FCCPC Gives Traders 1-Month Deadline To Crash Prices Of Goods by Forumites: 9:03pm On Aug 29

Stupid government with no sense. What if traders says they ain’t selling again? No be wahala be that? Even your family members will have the money to buy but won’t see anything to buy.

Re: FCCPC Gives Traders 1-Month Deadline To Crash Prices Of Goods by prigoz(m): 9:12pm On Aug 29

nlfpmod:

https://nairametrics.com/2024/08/29/inflation-fccpc-gives-traders-one-month-deadline-to-crash-prices-of-goods-across-nigeria/

This man's brain needs a check up, you want to force price down, did you ask how much they bought dollars, how much did customs collect and how much police collect from road block until the goods get to market. You want to flex muscle. Nonsense and ingredients. Na today. If you believe this man, then you can ask well believe all the APC lies

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Re: FCCPC Gives Traders 1-Month Deadline To Crash Prices Of Goods by nedekid: 9:12pm On Aug 29

Funny people. Is this how they want to reduce prices? After messing up the economy?
Someone posted here few days ago of how a relative sent phones bought from argos total worth of 600+ pounds was held by customs with a clearing bill of 1.2m.
This people obviously are government pikins that do not know how business, laws of demand and supply works.

Re: FCCPC Gives Traders 1-Month Deadline To Crash Prices Of Goods by Kemanwana(m): 9:14pm On Aug 29

Scatterscatter:
I feel like giving this man a “big konk” on his head.
FG keeps increasing Custom duty + all the shenanigans that happens at the Port, yet you want the price of imported commodities to be cheap.

This people go just smoke Igbo finish start to dey talk anyhow.🙄

Re: FCCPC Gives Traders 1-Month Deadline To Crash Prices Of Goods by mightyhazel: 9:14pm On Aug 29

Ejehhhh:
Igbo Amaka

Very True Statement..but wetin bring Igbo come this thread

Re: FCCPC Gives Traders 1-Month Deadline To Crash Prices Of Goods by Bakrabas: 9:16pm On Aug 29

Government too should crash the petrol price and shipping fee

Re: FCCPC Gives Traders 1-Month Deadline To Crash Prices Of Goods by emmydee(m): 9:22pm On Aug 29

Yankee101:
They’ve lost ideas

Exactly

Re: FCCPC Gives Traders 1-Month Deadline To Crash Prices Of Goods by Justnation: 9:25pm On Aug 29

What is actually going on in Nigeria today?,
I can't stop laughing at the stupidity of some statements accredited to some supposed leaders in Nigeria.

How can an agency boss in Nigeria threaten to sanction a private business man because his price is higher than what is sold in America.
What did he go to do in America in the first place?,

Please someone should ask him if the goods just surface in Nigeria in a jiffy.
No transportation, no duties, no bank charges, no interest paid if the capital is borrowed, the businessman doesn't pay for office and not entitled to profit.
These government officials makes mockery of leadership in Nigeria.
Instead of creating a buoyant productive local self reliant economy someone is busy comparing how much goods are sold in America vs Nigeria.

1 Like 1 Share

Re: FCCPC Gives Traders 1-Month Deadline To Crash Prices Of Goods by onyxo76(m): 9:32pm On Aug 29

When you have nothing sensible to say, you will start talking rubbish by default.
Crash prices indeed

Re: FCCPC Gives Traders 1-Month Deadline To Crash Prices Of Goods by chidiokay: 9:38pm On Aug 29

Dynamicboss:
Let’s analyze here

Price of the fruit blender in Texas - N140,000

If I buy at this price and ship it via air to door delivery, delivery cost maybe up to N100,000

I need to pay customs duty fee up to N100,000

I need to pay staff plus maintenance cost and tax, let’s
say N90,000 to N100,000 sha from the proceed.

If I make profit of N200,000

The total amount should be N650,000

Now the supermarket is selling for N950,000.

Well the government officials are not far from the truth, people are extremely greedy in this country. Though, the same government making mouth, did they realise the cost of running business had hit the roof? Fuel is almost N1,000 which is affecting almost everything in the country.

These Tinubu govt are just unserious, they just play on Nigerians intelligent .. govt on there part have the keep increasing levies, taxes, duties and pms price, yet they
feign ignorance as if they dont know there insensitivity is the catalyst

Another name for Tinubu govt should be eye service govt, a policy as brillant as import duties wavier on pharmacy drugs and grains ... look at how the govt played Nigerians maradon today the policy is useless.

The moment they notice Nigerians are groaning out loud, Govt will rush out to announce a good policy just to win applauds but after, they either stall or neutralize the policy. Tinubu is a big mistake we must not repeat come 2027 till then Nigerians look after yourselves we are OYO

1 Like

Re: FCCPC Gives Traders 1-Month Deadline To Crash Prices Of Goods by YoungBlackRico(m): 9:42pm On Aug 29

Take your campain to the grassroot. The people concerned no here all these phone you dey speak

Re: FCCPC Gives Traders 1-Month Deadline To Crash Prices Of Goods by NothingDoMe: 10:08pm On Aug 29

DispatcherLagos:

Can I at least laugh at this cock and bull story?

🤣🤣🤣🤣

Re: FCCPC Gives Traders 1-Month Deadline To Crash Prices Of Goods by NothingDoMe: 10:09pm On Aug 29

Babaken:
The market association is giving fg 2 weeks to reduce dollar and import duty

Extremely sensible response 👏

Re: FCCPC Gives Traders 1-Month Deadline To Crash Prices Of Goods by ruffhandu: 10:14pm On Aug 29

mumu govt

Re: FCCPC Gives Traders 1-Month Deadline To Crash Prices Of Goods by Freebills12: 10:33pm On Aug 29

You will never understand the value of what you have until you loose it. These where the technocrats APC/Tinibu urchins were shouting he will full everywhere with technocrats!

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