Thank you

why won't they frown.do you think it easy to establish business with money and some people with smelling pussy will come to destroy it with dept

because they can't replace what you are buying on credit and they are not sure you will pay until you actually pay.

People that refuses to pay a debt of 200 naira

So that you will run away with people's money abi?


Who will pay after buying on credit?

Are you a nigerian?

Do you own a shop?

Would you sell on credit?

Drop the address so you can have practical answers to your questions.

Stupid question to ask. Is this how Americans run their credit system.

Give credit to a Nigerian at your own peril

I don’t think you have ever sold anything on credit to some people.
Next time when the money comes, they will avoid your place and go somewhere else to buy the same thing while still owing you.

The root of the problem lies in the situation if the Economy of Nigeria. Things have become so worse that good people have turned into something else. Like the Op said, in the 70's, shop keepers will give you on credit and know that you will pay. Back then, the economy was favourable to all and people still see money and are able to fend for theirselves and that is why they can pay back with ease but fast forward to 2023 when the economy has become very harsh and unfavorable. Even someone that truly wants to pay back is unable to due to so many bills and responsibilities to attend to. If the economy was still favourable like in the 70's, I think this paying back of loans won't be an issue today. So the solution lies on our Government to improve on our Economy, create jobs, and let things like fuel and food reduce to its minimum and I can assure you that it will bring back the good in people.
This is my take on this topic.

thesilentman:
My father told me that when he was a shop-keeper in Jos in the 70s,they used to have the credit and the cash department.You could walk into many stores at any given time and buy things on credit and the shop-keepers would sell to you with the same enthusiasm as with cash buyers.
Nigerians don't take credit purchases on a friendly note.Most shops have signs that says "No credit today,come tomorrow!".Whereas credit is normal thing elsewhere.This issue is even particular to yoruba people who says that they have not had their first sale and it's rather too early in the morning.
Is it our economy system?
PS: I don't buy things on credit o.Just my observation.

Because 99% of Nigerians will not come back. They will shift loyalty.

NoToPile:


It's more serious than that, Only a Nigerian will feel offended when you ask for money you are owed. You will hear is it not just 1000. You might even get insulted on your own money if you are not careful.

We have a very terrible entitlement mentality.

I have many such as this.. "I dey owe you before"🤣🤣🤣🤣.... The same habitual onigbese

If u've suffered from kindness you'll think twice, such is present day NG

thesilentman:
My father told me that when he was a shop-keeper in Jos in the 70s,they used to have the credit and the cash department.You could walk into many stores at any given time and buy things on credit and the shop-keepers would sell to you with the same enthusiasm as with cash buyers.
Nigerians don't take credit purchases on a friendly note.Most shops have signs that says "No credit today,come tomorrow!".Whereas credit is normal thing elsewhere.This issue is even particular to yoruba people who says that they have not had their first sale and it's rather too early in the morning.
Is it our economy system?
PS: I don't buy things on credit o.Just my observation.

The Nigerians of then are different from Nigerians of now.

One of the surest way to kill your business, or for it to remain stagnant in Nigeria today, is to sell things on credit.

Atije elede yungba yungba,ati sanwo re tiko tiko
For non Yoruba speaking brothers,it roughly translated as:
Pork meat is yummy but payment for same is reluctantly made

thesilentman:
My father told me that when he was a shop-keeper in Jos in the 70s,they used to have the credit and the cash department.You could walk into many stores at any given time and buy things on credit and the shop-keepers would sell to you with the same enthusiasm as with cash buyers.
Nigerians don't take credit purchases on a friendly note.Most shops have signs that says "No credit today,come tomorrow!".Whereas credit is normal thing elsewhere.This issue is even particular to yoruba people who says that they have not had their first sale and it's rather too early in the morning.
Is it our economy system?
PS: I don't buy things on credit o.Just my observation.

From Lagos Island market, down to Alaba, Tradefair, Trinity, Ladipo..... etcetera

As an importer, you sell on credit to your trusted customers, otherwise your name is sorry.

Most wholesalers supply on credit.

...Moral Lesson.. not every customer is your Customer.. and not everybody is credit worthy..

NIGERIANS credit
I pity your business.

thesilentman:

You are absolutely right! A lot of Nigerians are not credit-worthy at all.I believe that's one of the major reasons.

Don't miss it. Is not one of the major reasons.

It is the MAIN REASON lot will buy with intention not to pay. Some will even resorted to fight and abuse you when you ask about their debt.

Apart from few set of people. I repeat very few.

My mum owns a provision store she only sell credit to does she knows..even at that some rain insult on her if she decides not to sell .they will normally say it's not only her that is selling that they will go to another shop and buy it.so in order to suceed in business you have to accept insult for you to sell your goods.

Foodqueen:
To buy credit is easy, to pay back is a big problem to so many people.

When u sell credit to people that u will normally see everyday, they will change their route, and u won't get to see them again till u go to their house or jam them on the road.

I can't give example, my eye don see shege.

The Yoruba's have a proverb that describes what you wrote. "San laarin, aje ni n muni pekoro"

Nigeria debtors do not fancy paying their debts, we are bad debtors.

hakeemhakeem:
Op you can be the good guy get a shop stock and start selling on credit for experiment let see probably others seller aren't human

Haa. I've learnt my lesson about lending to Nigerians. The people I called friends are the ones that are owing me. One is $3k and one is $1k. It's been over a year now and it's been one from one story to the other. They one wey I borrow $1k dey naija dey build him house. The one of $3k dey US but had businesses in naija.

When you understand the fact that 95% of Nigerians are criminal minded then this question will be unnecessary. Nigerians are terrible debtors and ingrates.

this is where trust Muslim(Hausa) most, they avoid credit but if it must be credit... he'll surely pay.
apart from them others can't be trusted with credit, Nigerians love free things anything they don't pay for instantly will be hard to pay later especially where there is no written agreement and collateral.

snowland:
Haa. I've learnt my lesson about lending to Nigerians. The people I called friends are the ones that are owing me. One is $3k and one is $1k. It's been over a year now and it's been one from one story to the other. They one wey I borrow $1k dey naija dey build him house. The one of $3k dey US but had businesses in naija.

help me sir I'm sick and have nothing to eat

ikeno:

He's kind of a regular customer who stakes high.
My boy has that notion that he will pay as promised till now he has gone with the wind and I don't want to deduct it from his salary. But I just gave them a stern warning.

You should have deducted it. Even though it looks harsh but if you do that they will be less trusting next time. Remember business is business. Not deducting is a sign of weakness. Next time he fit be 150k not 15k

Because they are not a bank. Go to the bank and get credit if you need one. Bankers will smile at you if you need credit and ask you to bring your mothers death certificate amongst other things.

uche393:
this is where trust Muslim(Hausa) most, they avoid credit but if it must be credit... he'll surely pay.
apart from them others can't be trusted with credit, Nigerians love free things anything they don't pay for instantly will be hard to pay later especially where there is no written agreement and collateral.

I'm not hausa or Muslim but this is true....

Is like you are not a Nigerian? Don't you read on Nairaland here where people are being killed just to avoid paying back? Don't you ever give credit of money you can't forfeit, you may regret it. There was this guy that use to borrow 1k to 2k from my work place and pay back after receiving salary he was an IT student and I didn't know. When he was about to leave he ask for 30k and I gave him 4k. Till today its more than 3 years now he didn't payback

Army rubber, they should smile for you. I see why you have no business doing at all.