HeadNigga:
Blame the government for inflation not corporations. So if the cost of raw materials/production skyrockets you expect a company not to review it's price upwards?

Your argument will only be valid if we know for sure that there isn't general inflation and a company just changes the price of it's product...but as it is in Nigeria, we all know there is general inflation as a result of the forex rate coz we are import dependent.

Kacism:
Truly, some products needs to be boycotted I swear. The number one is Titus sardine. That company has been toiling with our feelings for a long time. Titus is the only product u will buy and not know what u are getting whether it's two fish, three fish or one fish with plenty oil inside.

Now they have reduced the number of fish inside yet the price is still on the high side. Na God go punish them.

SeaTrade:
Lalasticlala,seun. We need a wider audience on this. Thanks.

HeadNigga:
Blame the government for inflation not corporations. So if the cost of raw materials/production skyrockets you expect a company not to review it's price upwards?

Your argument will only be valid if we know for sure that there isn't general inflation and a company just changes the price of it's product...but as it is in Nigeria, we all know there is general inflation as a result of the forex rate coz we are import dependent.

georgealmond216:
Make we protest for a change?

CountVersailles:

This has led to some business people hiking prices for no reason because they know they will still enjoy patronage.

HenryThegreat1:
At least I have boycott in buying and drinking two particular brands of malts ever since they increased their prices from N200 to N250.

blaksril:
I am in the manufacturing sector and I can assure you that no company wants to price itself out of the market whether big or small brands. It is very expensive running a manufacturing/production company in Nigeria. Every amenity e.g power, water, roads, security etc is provided by you. Moving goods across the country is a logistical nightmare. A simple example is this, in saner climes due to availability of power and security, staff of a manufacturing firm can do two shifts (7am to 7pm and 7pm to 7am) without any fear of insecurity, cost of running generator, access to transport to and from work, etc. This firm gets more goods produced and pushed into the market therefore no scarcity. Their running costs are reduced because most fixed costs like rent, insurance, salaries etc are the same if your production is on for 12 hours or 24 hours in view of cost and sales ratio. In this country 80 percent of the businesses close by 5pm. No business owner wants to run on generator 24/7, no business owner wants to risk the lives of their staff by closing late even with increased pay or having morning and night shifts cause of insecurity. As a country we cannot beat inflation with an economy that shuts down by 8pm and starts again by 9am. That is 12 hours wasted in a day. Six months in a year. That is time that could be productive if the government is serious and puts things in place to an enabling environment for manufacturing/production companies to create maximum output. So please don't blame the companies like I said earlier, 'no company wants to price itself out of the market'. Apologies for the epistle.

SeaTrade:
Nigeria is the only country in the world where a product will jump in price by 50% and sales of that product won't change.

It has made corporations greedy and they milk Nigerians with reckless abandon at the slightest opportunity.

Why can't people just boycott those greedy brands,move to cheaper ones and let it sink in the heads of this corporations that no brand is too big to fail,irrespective of product or distribution network.

As someone that has travelled a lot around Africa,I can boast that Nigeria is the only place where this happens and consumers will show vulnerability and dependency by simply continuing patronage and showing these people that "we don't have a choice".
This is a very wrong message to pass,make una try wise up abeg.

Brand loyalty is a daft thing to do cos you would be taken advantage of by oligarchs.
I drop my pen.

This needs to get to front page let's discuss more on this.

HenryThegreat1:
At least I have boycott in buying and drinking two particular brands of malts ever since they increased their prices from N200 to N250.

adanny01:


.

Same situation i got during the COVID19 lockdown last year. I bought a bag of Lactorich milk for 45k at the end of the month, there were over a 100bags of the milk in the ware house. Came back next month end and it sold for 55k while it was same stock. Same excuse by the seller.

siofra:
Who still dey eat sardine??

If you're still eating sardine God will judge you

PoliticallyLeft:

You'll be surprised that 80% of Southerners are happy that things are hard in the country even though they are suffering.

If they purchase cheaper substitutes, how will they post on Instagram that they purchased something worth 1000 naira for 2000 naira and blame Buhari?

Check any post that criticises the incumbent government, it always goes:

Under Jonathan T was 2 naira , under Buhari it is 5 naira.

They do not ever blame the retailers who are doubling profit.

Put differently, for most of Nigerians inflation is a payback for voting Buhari in 2015 .

Yankee101:
What's the alternative? That's why competition gives more options. Semi monopolies exist in nigeria

Poleski:


Because Nigerians are used to suffering and smiling at the same time. Religion is another thing that made Nigerians to do nothing and hope on god to help them, even when it doesn't happen (it never happens)!

edoairways:

There are alternatives just that most Nigerians are reluctant to change. There are different brands of paracetamol to relief pains and headache however most Nigerians prefer Emzor because of excessive advertisement. Other brands serve better in treating that ailment however most Nigerians prefer Emzor. Another is indomie noodles. Golden penny noodles has good taste however most Nigerians still prefer indomie noodle. These are some of the numerous examples out there

bigpicture001:
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

Yankee101:


You're talking of market dominance. These brands you've mentioned are perceived market leaders. Premium brands attract a premium price

SeaTrade:
Nigeria is the only country in the world where a product will jump in price by 50% and sales of that product won't change.

It has made corporations greedy and they milk Nigerians with reckless abandon at the slightest opportunity.

Why can't people just boycott those greedy brands,move to cheaper ones and let it sink in the heads of this corporations that no brand is too big to fail,irrespective of product or distribution network.

As someone that has travelled a lot around Africa,I can boast that Nigeria is the only place where this happens and consumers will show vulnerability and dependency by simply continuing patronage and showing these people that "we don't have a choice".
This is a very wrong message to pass,make una try wise up abeg.

Brand loyalty is a daft thing to do cos you would be taken advantage of by oligarchs.
I drop my pen.


This needs to get to front page let's discuss more on this.

SeaTrade:
You were quick to point out the good sides to saner climes,but you also didn't put the fact that they pay almost 40-45% Tax but you here in Nigeria is having tax holidays and bribing tax officials or not pay tax at all.
They also pay VAT on products of most times 19% and you here pay 7.5%,that is if at all you even pay.
And they do all these payment in hard currency ,so dir all this your diesel talk.
That labour that you want round the clock,do you know they pay factory workers in the west $12/hr and probably you are paying yours 15k a month?
Your only rational explanation/excuse should be economies of scale,not here chanting diesel for generator and security like say electricity and security(paid for via high tax rate) they in the west are paying for is free.