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Nairaland Forum / Nairaland / General / Business / Why Are Nigerians So Quick To Accept Inflation? (24372 Views)
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Re: Why Are Nigerians So Quick To Accept Inflation? by Depressed101: 8:27pm On Nov 05, 2021 |
SeaTrade:it doesn't work that way. You want brands to sell at cost price? Manufacturers are having hard time sourcing forex, and when they get, they get it at high price, how do you expect them to sell below their cost price? ![]() |
Re: Why Are Nigerians So Quick To Accept Inflation? by saintmm(m): 8:29pm On Nov 05, 2021 |
Lots of things needs to change in our mindset. Nigerians love showing off, intimidation and oppression. Even if they are at the receiving end now, they believe table will turn and they will be there one day. Also, Nigerians are docile, never bother about what their right is. They like to complain and pray but not ready to take a single proactive action. So, everyone believes that how the society is. 6 Likes |
Re: Why Are Nigerians So Quick To Accept Inflation? by Emotionss: 8:29pm On Nov 05, 2021 |
[color=#006600][/color] Timoleon: And people you're better than fainancally will start mocking you. Calling you broke or stingy. Because to them what is extra 10,50,100 or even 500 Naira that you can not pay. Nigerians are so used to oppression, hardships and intimidation that it has become a nominal thing for them. 8 Likes |
Re: Why Are Nigerians So Quick To Accept Inflation? by Godmademan(m): 8:29pm On Nov 05, 2021 |
Vinnie2000:Part of the reason. Another reason omo noticed is that most times the prices rise across brands not in isolation. For example if golden penny spaghetti rises from 400 to 450, the less patronized dangote moves accordingly from 350 to 400. As a consumer, when you weigh the difference in quality you tend to settle for your favorite. Even in the market, if mama Hawau increase bread to 500, mama efe wey no dey get customer go increase hers to 510 you end up wasting your time touring in search of cheaper price that no longer exist. 2 Likes |
Re: Why Are Nigerians So Quick To Accept Inflation? by Omoluabi16(m): 8:29pm On Nov 05, 2021 |
RealLordZeus:It is a merry go round. Technically, we are all guilty. It is still that need to make 'gain' or rip people off. The corona virus just showed how Nigerians are. Everything went up for no reason. 2 Likes |
Re: Why Are Nigerians So Quick To Accept Inflation? by ruggedtimi(m): 8:30pm On Nov 05, 2021 |
Example na Titus sardine 1 Like |
Re: Why Are Nigerians So Quick To Accept Inflation? by Izongdave(m): 8:30pm On Nov 05, 2021 |
Government that we all have a stake isn't giving to our yearnings that private individuals, okay, you no get hands to manufacture you own product ni? |
Re: Why Are Nigerians So Quick To Accept Inflation? by jaxxy(m): 8:32pm On Nov 05, 2021 |
Vinnie2000: Look at government borrowing more money for ridiculous expenditures rather than reducing expenses. It’s a mismanagement mentality to keep adjusting to rubbish for no reason and any reason. 3 Likes |
Re: Why Are Nigerians So Quick To Accept Inflation? by Don27tiky(m): 8:33pm On Nov 05, 2021 |
PoliticallyLeft:you are so right. Some people even pray that things get worse so they can blame Buhari. A taxi driver decided to increase the fare from 100 to 200 and he said na this regime cause am, to my surprise others started calling Buhari evil. When clearly the man was exploiting us all. I told them we are the ones bringing evil to ourselves not the government. It was me against all in the taxi that. 3 Likes |
Re: Why Are Nigerians So Quick To Accept Inflation? by Depressed101: 8:33pm On Nov 05, 2021 |
HeadNigga:the rest people above are suffering from mental poverty, I can't believe old men don't know why there's inflation, they think retailers, manufacturers just make up price and dish out to people. Kai we are gone as a people if we don't know the simple economics behind inflation. |
Re: Why Are Nigerians So Quick To Accept Inflation? by MartinsD12(m): 8:35pm On Nov 05, 2021 |
SeaTrade:It's simply because we don't have a working government in place to regulate the prices of goods, imagine romoss sense 6 plus power bank I bought last three months for 10k I went back to buy another romoss sense 6ps plus only to buy it N14,500 although this particular one has led percentage display I know the price is too much like N2000 profit for the seller and our naira is too helping matters, our business men too will seize every dollar price hike to add money on their goods anyhow they want. 2 Likes |
Re: Why Are Nigerians So Quick To Accept Inflation? by faste: 8:37pm On Nov 05, 2021 |
Blackie46:This one is caused by police and army exhorting motorist in that axis. |
Re: Why Are Nigerians So Quick To Accept Inflation? by Don27tiky(m): 8:39pm On Nov 05, 2021 |
HeadNigga:i leave in Abuja and we buy our food stuffs at a local market. Believe a measure of rice still sells for #550 at that market. People go there buy and sell for #900. I buy my yams from my state, benue very Cheap. #1000 yam from benue goes for #5000 or more in Abuja. Will you say government is responsible for this as well or it’s just wickedness 1 Like |
Re: Why Are Nigerians So Quick To Accept Inflation? by bigpicture001: 8:39pm On Nov 05, 2021 |
Money want to kee my gf ok.. just because she chose to do the right thing and reduce her profiteering in her medical lab field... She lowered the cost of her diagnosis by almost half.. e g.. everyone does malaria and thyphiod for 1500, sh does for 700.. her pregnancy test is just 500 and full blood count etc all is very cheap.. You might think she doesn't gain.. now her place is like the full community government lab.. she takes home a minimum 70k daily.. while all our other labs takes less than 20k home daily.. Just try to be different from The excess profiteering gang whilst still being on profit... She is just 27 and is worth about 21 million... Use ur brain.. don't join the train 9 Likes |
Re: Why Are Nigerians So Quick To Accept Inflation? by PROPEACE: 8:41pm On Nov 05, 2021 |
SeaTrade:Lol the answer is simple. All those businesses be they Telecom or crayfish sellers, Carpenters or ice block sellers, bakeries or or school business, they all have unions my brother, they all increase the prices together, they think they are doing their customers but they don't know they are doing themselves, as they increase their prices, other businesses will do same and that is how we unite and destroy the country. Whenever I say Nigerians are very wicked especially to ourselves, they call me unpatriotic but you see me ehn, I don't practice false patriotism, I always say it as it is. My country men are irredeemably wicked; we call it hustling, unfortunately. 5 Likes |
Re: Why Are Nigerians So Quick To Accept Inflation? by Krismas(m): 8:41pm On Nov 05, 2021 |
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Re: Why Are Nigerians So Quick To Accept Inflation? by Nobody: 8:42pm On Nov 05, 2021 |
SeaTrade: There are no options or very few options. The market also lack competitions. Brands are also very few in Nigeria. Look at brand like spaghetti, indomie, how many options are there? Also once your tastebud is used to one product, it is hard to change. 1 Like |
Re: Why Are Nigerians So Quick To Accept Inflation? by Blackdisciple(m): 8:42pm On Nov 05, 2021 |
Hmmmm inflation, I used to even go into angry comments with people I want to buy things from.... |
Re: Why Are Nigerians So Quick To Accept Inflation? by gbengaeed(m): 8:44pm On Nov 05, 2021 |
I dont buy sausage roll from that oldest brand because of this unnecessary increase. HenryThegreat1: |
Re: Why Are Nigerians So Quick To Accept Inflation? by ttmax09(m): 8:44pm On Nov 05, 2021 |
siofra:
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Re: Why Are Nigerians So Quick To Accept Inflation? by erubati: 8:44pm On Nov 05, 2021 |
I have been trying to buy a new oral b toothpaste since last week but was always priced at 500naira.i even priced it at ibadan when I travelled but still at same price.i came back to Lagos and tried to buy around ketu but was still sold at 500 naira.i just resigned my fate and concluded I would buy it anywhere I come across it again.my mind just pushed me to one woman under the bridge and I asked her the price and to my surprise she said 450naira. Even kerosene is priced at 700 in majorly all areas of ketu,but u go still see only very very very few sell it at 650 naira. We are the most wicked set of African human beings God created. I fit talk am anywhere 9 Likes |
Re: Why Are Nigerians So Quick To Accept Inflation? by Mshelia01: 8:45pm On Nov 05, 2021 |
This is one of the neat topics I have seen this year 4 Likes |
Re: Why Are Nigerians So Quick To Accept Inflation? by Nobody: 8:46pm On Nov 05, 2021 |
CountVersailles: The last time, they had the opportunity during the endsar protest, they were protesting for gay rights and destroying their cities and workplaces 1 Like |
Re: Why Are Nigerians So Quick To Accept Inflation? by lereinter(m): 8:47pm On Nov 05, 2021 |
There are few reasons responsible 1, religious reasons - that's when you hear things " akole Olorun ni" " Ari tiwa se" " Ari Anu gba" 2, ethnic bigotry - this is visible as found that a ethnic group not protesting due to their ethnic person being in power 3, political rascalism - when apc person see you as a pdp if you speak against the ills of the society if apc is in power and vice versa Docility, Docility, Docility and Docility Nigerians are generally docile, the ignorant are to many, people who can't emancipate themselves from mental slavery are too many This land is a confused place 3 Likes |
Re: Why Are Nigerians So Quick To Accept Inflation? by Yusman316(m): 8:47pm On Nov 05, 2021 |
benzzyno:That's part of the problem of Nigeria. A person doing a job he/she is been paid for, will still make u feel like they are doing u a favor by doing their job |
Re: Why Are Nigerians So Quick To Accept Inflation? by yusuf0876(m): 8:48pm On Nov 05, 2021 |
We need to protest about the hike in gas price,if care is not taken by January we will buy 1kg ₦1000 1 Like |
Re: Why Are Nigerians So Quick To Accept Inflation? by Krismas(m): 8:50pm On Nov 05, 2021 |
bigpicture001: ![]() |
Re: Why Are Nigerians So Quick To Accept Inflation? by bilulu(m): 8:56pm On Nov 05, 2021 |
SeaTrade:we like show off, we like to show we can afford it even when we know it's with our last money, we don't like to show we re poor even when all indices are pointing towards that |
Re: Why Are Nigerians So Quick To Accept Inflation? by lugado: 8:57pm On Nov 05, 2021 |
In summary Inflation is caused by Government policies Demand and supply Scarcity of products Greed 1 Like |
Re: Why Are Nigerians So Quick To Accept Inflation? by kutashi: 9:00pm On Nov 05, 2021 |
HeadNigga:I think the government case in this issue is like 10%, if not 5%! Largely, inflation in Nigeria are specific inflation but for docility of the consumer, they always makes it look like general inflation. We were more import dependent that now. Evidence to support this are level of poverty and hunger forcing people to embrace our local products, giant stride of government in Agriculture and lastly, statistics also attest to this. Back to my arguement. If you follow the trend, Increase in fuel price was the only deciding factor responsible for inflation in Nigeria. When this has been 80% successively blocked, they turn to Dollar. Even what we produced locally without any of its component sourced outside the country also increased in price! And they're enjoying this 'Dollar inflation' because it will take a while and one evil among the player to nip it in the bud! The next phase will be total removal of subsidy! Or how do you explain how a company will just wake up and increase their product by N300 while the retailer has been selling above that increase for years! |
Re: Why Are Nigerians So Quick To Accept Inflation? by MisterKay321(m): 9:00pm On Nov 05, 2021 |
siofra: ![]() |
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