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.

Sharing on social media is best way of liking this post.

Like i boycotted Titus fish although i found no better alternative.

Timoleon:
I can’t count the number of times I refused to buy items or from particular shops because of increases as little as 10naira.

U don't need wat u wanted to buy.. If u need it, u will buy it

CountVersailles:
I ask myself this same question a lot. I've not seen it happen once that commuters, for example, will protest hike in transport fares by trekking and actually showing these danfo buses who's boss.
In America, black people started walking as a form of protest to segregation in buses. Na beg dem beg dem las las to please come back.

if you protest, another person go join and follow his actions with the question, "how we go do? " we don't cooperate to fight the system.

Cromagnon:
and what has changed

What's my business? It is my money and my decision.
What's your business on my decision? Must you quote me? Pls Air ur view and stop mentioning me.

Saskay44:
The cheaper ones has lesser quality rem the day I bought bua spaghetti Omo I regretted, told my self even if golden penny gets to 500 that's what I'll continue eating

People like you are reason those companies increase the prices of there products, because they know you will still buy them at any cost, even though you aren't convenient with it.

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.

I doubt if you are as wise as you are trying to make it seem. Before creating such thread have you thought for a moment why Nigerians behave that way? ..... It is not as black and white as you are trying to make it seem.

Vinnie2000:


Simply because we will conduct our own 'Inflation' later..
You increase the Price of Flour, I increase Price of my bread..
You increase Tomato price, I increase Price of my Stew rice..

Passive inflation... Good construct

---

To the topic...

It's actually very disheartening tho... I once stood my ground at Oregun, Ikeja due to unexpectedly high fare and then, I looked stupid at the end of the day.

Why

Nigerians with the so called No nonsense attitude are very very quick to accept nonsense! Quite Ironic!

Beninwitch:


Pls where did you get the power bank? Computer village? I need one. Thanks. L)

I got it at awka UNIZIK junction besides enugu motor park, it's portable, you won't believe it's 20000mah charges my phone 4 to 5 times, sense 6ps plus with led display not the sense 6 plus that is bigger. Yes you can get it in computer village or any good shop in Lagos if you are in Lagos, the first image is the portable one am talking about both power bank are good but if you prefer led display and portability buy the first one there and get romoss power cube pro 3.0 18 watts charger for it. It's black in colour.

My friends we are in a religious bondage or mental slavery. Just listen to Kumuyi saying True believer don't complain nor condemn authority but keep praying to God for intervention.

Nope. I buy what I need. I will rather go to multiple shops ti confirm the lowest price. More often than not, you’ll find someone who is yet to inflate the price.

Wayne4uall:


U don't need wat u wanted to buy.. If u need it, u will buy it

SeaTrade:
It is very bad and terrible out here honestly,price hike across a value chain and people keep patronising like nothing happened.
It is making me think that Nigerians are not as poor as they claim,they just want to play pity party.

No, it isn't pity party. We Nigerians are just plain stupid...can't tell our left from right, both rich and poor.

The average Nigerian sees inflation as an opportunity to make more money wether he/she provided goods or set, they fail to see the overall effect. They become more entrenched in the rat race.... They make "more" to spend much more lol.

Imagine the garri seller making the excuse of inflated garri prices being higher dollar-naira rates....at the end of the day he/she will buy other goods and services at inflated prices as well. The ratio never stands in his favor.

The only county in world with most gullible people is this country, so what's the surprise?

SeaTrade:
Corporations use this forex excuse to also milk the populace as well.
Agreed forex is scarce and costly,
But why should a company that manufactures in Nigeria has its products inflate by up to 50% in the name of forex?
Don't you know these people get forex via form M at official rates to import raw materials?
Agreed there are delays here and there to get the form M fx but should that be the reason why their products should inflate by up to 50%?
This greed starts right from the corporation and continues down the supply chain.
Solution is to boycott and try alternative cheaper products.
That time you will see the so called corporations claiming forex this and that will reduce price and even do all sorts of promo untop to win back market share.
They do this because Nigerians have shown blind brand loyalty and helplessness.

I truly want to appreciate your insights on this topic. It beggars belief how Nigerians think that large corporations like Flour mills Nigeria, source their FX needs from the black market, therefore the crazy changes in prices is justifiable. For emphasis sake, these companies get CBN intervention windows for their FX needs, even BOI provides them funding at single digit interest rates. Recently,for about 3 months I had to stop buying Blueband margarine because the price kept skyrocketing to heights I just couldn't understand anymore. Can you imagine that the 250g of Blueband was put at 750, that's more than the price of a 450g Mamador margarine for 650 now. If the corporations want to help stem the crazy inflation and cheating of consumers, they should state the Recommended Retail price of their products on the products.If a seller decides to cheat me ,I can easily walk away and it would force them to act sensibly.

DonGenovese:

I truly want to appreciate your insights on this topic. It beggars belief how Nigerians think that large corporations like Flour mills Nigeria, source their FX needs from the black market, therefore the crazy changes in prices is justifiable. For emphasis sake, these companies get CBN intervention windows for their FX needs, even BOI provides them funding at single digit interest rates. Recently,for about 3 months I had to stop buying Blueband margarine because the price kept skyrocketing to heights I just couldn't understand anymore. Can you imagine that the 250g of Blueband was put at 750, that's more than the price of a 450g Mamador margarine for 650 now. If the corporations want to help stem the crazy inflation and cheating of consumers, they should state the Recommended Retail price of their products on the products.If a seller decides to cheat me ,I can easily walk away and it would force them to act sensibly.

Very smart man,
I just look at them making excuses for price increase by corporations on scarce fx and I just laugh,they think everybody patronises BDCs for fx.
Agreed they might not get as much fx allocation as before or maybe delays in issuing fx to them by CBN,
But should this be the reason why they have to inflate their products by 50%?
This is outright greed and can only be solved by people boycotting their brands and buy cheaper ones.
They will be forced to succumb to market forces.

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.

boycotting products because of price increase is not a smart idea. It means you are putting yourself in lack. If you feel the prices some producers are charging is too high, you can start making similar products too and sell yours at a lower rate. Thats is the beauty of open market system. In calling for the boycott, you didn't consider the factors of production that have gone up in cost.
You also talked about manufacturers increasing the prices. Truth is the increase you see as a consumer is largely by middlemen like wholesalers and retailers who form association and regulate prices. Manufacturers don't derseve boycott but competition if you feel they are making too much. You got so many likes and shares for such an ignorant post.

Some of this so called cheap goods are even better when you try it. I really think its high time we stop patronising those brands that inflate prices

CyberHustle:
boycotting products because of price increase is not a smart idea. It means you are putting yourself in lack. If you feel the prices some producers are charging is too high, you can start making similar products too and sell yours at a lower rate. Thats is the beauty of open market system. In calling for the boycott, you didn't consider the factors of production that have gone up in cost.
You also talked about manufacturers increasing the prices. Truth is the increase you see as a consumer is largely by middlemen like wholesalers and retailers who form association and regulate prices. Manufacturers don't derseve boycott but competition if you feel they are making too much. You got so many likes and shares for such an ignorant post.

Wholesalers and retailers cannot just increase prices because of their association or whatever,
They do so only in cases where the manufacturer has increased prices and they hoard old stock so as to be able to restock,
Also when the manufacturer is not meeting up with supply ,creating scarcity in the markets,they hoard and wait for the market to dry out so they can sell at the highest possible price.
You think because of trade unions prices will increase nationwide and not in a particular market?
I will ignore your name callings.
How is it an open and fair market where Government has banned importation of certain consumables that small players would have been doing to keep the prices of these oligarchs in check?
Since its been unfair from the onset,then the only power consumers have is boycotting greedy brands and move to their cheaper alternatives.

Beninwitch:


Pls where did you get the power bank? Computer village? I need one. Thanks. L)

Check here....for your Romoss powerbanks.

Pay on delivery, 6 months warranty...

https://www.nairaland.com/6830814/romoss-57000mah-40000mah-30000mah-20000mah

Timoleon:
Nope. I buy what I need. I will rather go to multiple shops ti confirm the lowest price. More often than not, you’ll find someone who is yet to inflate the price.

Lol.. Ppl like u spend 10k on transport to get goods of 4k just because u think it will b more lesser than d one in ur neighbourhood

Potassium

Wayne4uall:



Lol.. Ppl like u spend 10k on transport to get goods of 4k just because u think it will b more lesser than d one in ur neighbourhood

HenryThegreat1:

What's my business? It is my money and my decision.
What's your business on my decision? Must you quote me? Pls Air ur view and stop mentioning me.

Toh
What's your business
It's HIS money and HIS decision
If you don't want to be quoted then keep shut
You talk nonsense and you don't want to be challenged, joker

IAMPEDRO:
follow that step if they won't change. Na you dey reason na say wetin change, when a company lose a customer it will reflect.

Oga mi, customer plenty pass company. If you don't buy others who need it urgently will. Until there is increased supply to meet overwhelming demand, inflation will remain. Simple economics