$1=N530 from $1=N585.
Dollar is Falling against Naira now, and YET PRICES OF GOODS HAVE NOT COME DOWN.
When we blame the Government We should blame our greedy Businessmen too, who will increase the prices of goods even when Naira fall for only N1, But won't reduce the price of goods when same Dollar fall.
Most Nigeria Businessmen are more greedy than people in government.

you have said it all. the facts speaks for itself

Especially here in the East. Their greed here is second to none,any little thing boom everything goes up. The one that got to me was the day there was fuel scarcity in Imo. Omo I stood at the road for over 3 hours,not that vehicles weren't coming but they were calling prices of what I don't know,I jejely went back home. It's not fair at all.

ENGINEERG:
$1=N530 from $1=N585.
Dollar is Falling against Naira now, and YET PRICES OF GOODS HAVE NOT COME DOWN.
When we blame the Government We should blame our greedy Businessmen too, who will increase the prices of goods even when Naira fall for only N1, But won't reduce the price of goods when same Dollar fall.
Most Nigeria Businessmen are more greedy than people in government.

It's obvious you are not a business man. So if you purchased goods with 100,000 dollars when dollars was at 585 which is equal to 58.5million naira would you sell it at a loss for 530naira which equals 53million because naira gained for a few days.
You didn't even consider other costs like ocean freight, Customs clearing costs and other logistics.

Yea.
That's a little bit true.
The fact that even people who sell homegrown products will be blaming the price on dollars.

Like seriously ��.

Greediness of Nigerians will always destroy Nigeria

Deborah98:
Especially here in the East. Their greed here is second to none,any little thing boom everything goes up. The one that got to me was the day there was fuel scarcity in Imo. Omo I stood at the road for over 3 hours,not that vehicles weren't coming but they were calling prices of what I don't know,I jejely went back home. It's not fair at all.

It will soon fall back

ENGINEERG:
Greediness of Nigerians will always destroy Nigeria

I tell you.... Omo that thing vex me but it's well.

Am also a businessman And what are you saying?
Sea shipping takes 2 to 3 months, so goods they bought when dollar was 450 should be sold for dollar rate of 585, why cant they use new rate of 530...Most business men are just greedy...you like it or not, Nigerians are the problem of Nigeria

Dottore:

It's obvious you are not a business man. So if you purchased goods with 100,000 dollars when dollars was at 585 which is equal to 58.5million naira would you sell it at a loss for 530naira which equals 53million because naira gained for a few days.
You didn't even consider other costs like ocean freight, Customs clearing costs and other logistics.

Dottore:

It's obvious you are not a business man. So if you purchased goods with 100,000 dollars when dollars was at 585 which is equal to 58.5million naira would you sell it at a loss for 530naira which equals 53million because naira gained for a few days.
You didn't even consider other costs like ocean freight, Customs clearing costs and other logistics.

But you can increase the price of goods even when the old stuck have not been sold during dollar increase.

Dottore:

It's obvious you are not a business man. So if you purchased goods with 100,000 dollars when dollars was at 585 which is equal to 58.5million naira would you sell it at a loss for 530naira which equals 53million because naira gained for a few days.
You didn't even consider other costs like ocean freight, Customs clearing costs and other logistics.

The op obviously does not know how the economy works. Increase in dollars against naira manifests immediately in the economy cos we import heavily using dollar exchange. The other way round it takes months cos the good that has already been imported when the dollar was high has to be cleared first.

See thinking! so the goods bought and cleared at low price, should be sold at high current dollar price...with thinking like yours, Nigeria will never develop.

Ogundex:


The op obviously does not know how the economy works. Increase in dollars against naira manifests immediately in the economy cos we import heavily using dollar exchange. The other way round it takes months cos the good that has already been imported when the dollar was high has to be cleared first.

Oshey Business man. The goods you bought at 480, didn't you sell at 585 Why not use same energy now that dollar is crashing?

Dottore:

It's obvious you are not a business man. So if you purchased goods with 100,000 dollars when dollars was at 585 which is equal to 58.5million naira would you sell it at a loss for 530naira which equals 53million because naira gained for a few days.
You didn't even consider other costs like ocean freight, Customs clearing costs and other logistics.

polimaf:
Oshey Business man. The goods you bought at 480, didn't you sell at 585 Why not use same energy now that dollar is crashing?

Oga import your own and sell as a good Samaritan. Simple.

That's the fault of a certain government parastatal. The truth is that we can't freely operate full capitalism here in naija. Govt. still has jobs to do to enforce some certain regulations that will make live easy for the populace. Such was recent stoppage of illegal levy imposed by artisan association in Ondo State by the governor which caused increase in cost of goods and services in the state. If government doesn't checkmate them, their greediness will cause more hardship in the society

Dollar will still rise to N600 by January

The drop in dollar is because of the festive season. There is a high demand for naira now, due to a lot of Nigerians in diaspora returning home for Christmas and changing their dollars to Naira.

So there is no scarcity of dollar in the black markets for now. There is excess of it.

But after the festive season, things will return back to normal

Keep your dollars

Don’t panic and sell off at lesser rate

ENGINEERG:
$1=N530 from $1=N585.
Dollar is Falling against Naira now, and YET PRICES OF GOODS HAVE NOT COME DOWN.
When we blame the Government We should blame our greedy Businessmen too, who will increase the prices of goods even when Naira fall for only N1, But won't reduce the price of goods when same Dollar fall.
Most Nigeria Businessmen are more greedy than people in government.

So you're a trader and you still have stock of goods you bought when dollar was 570 will you suddenly reduce the prices and end up incurring losses just because dollar fell ?

But they can speedily increase when Naira fall for only N1...Greedy people think alike!!!

Kobicove:


So you're a trader and you still have stock of goods you bought when dollar was 570 will you suddenly reduce the prices and end up incurring losses just because dollar fell ?

ENGINEERG:
See thinking! so the goods bought and cleared at low price, should be sold at high current dollar price...with thinking like yours, Nigeria will never develop.

So you buy a product at let's say 100 naira when the dollar was high and next week dollar happened to fall. You want to tell me you will sell the goods you bought at 100 naira at say 70naira? That's called loss.

ENGINEERG:
But they can speedily increase when Naira fall for only N1...Greedy people think alike!!!

Stop displaying your ignorance on a public forum!

Lol, who is displaying ignorance between you and I? Anyway, have said my own, you may agree or not, its part of life

Kobicove:


Stop displaying your ignorance on a public forum!

Deborah98:
Especially here in the East. Their greed here is second to none,any little thing boom everything goes up. The one that got to me was the day there was fuel scarcity in Imo. Omo I stood at the road for over 3 hours,not that vehicles weren't coming but they were calling prices of what I don't know,I jejely went back home. It's not fair at all.

Every Nigerian knows that. Thank you