OasisX:




......₦1,000 is the target for now, but Cardi B fit go lower though.

TemporaryHansel:
How come nobody don talk about meat for here sef. Price of meat is something else now lol. 20k soup for only two people doesn't last two days. If you see meat of 15k you'll shed tears of agbado

TemporaryHansel:


It shouldn't go lower than it is now abeg

izzou:

LordAdam16:


Hang in there, mate!
It'll go lower.

CBN sold at 1,200 in the official market today.
Cardi B is not done.

TemporaryHansel:


When you buy meat last

TemporaryHansel:


It shouldn't go lower than it is now abeg

TemporaryHansel:


This is bad for some of us. I don't want the naira to be lower than 1,500/$1

swiz123:


We have too many middlemen scavenging for profits from a particular product in Nigeria. The death of small retail shops will mark the beginning of our economic renaissance.

A carton of indomitable noodles sold for 10,500 at its peak and retailers increased their prices to 300 per one. The company had to reduce the price to 8900 so that they can at least continue making sales or face either downsizing or completely shutting down.

Guess what? These retailers are still selling 300 per one while supermarkets are selling 240 per one. Without these supermarkets, the noodles company would most certainly leave business just like GSK and we would be left with an army of unemployed youths and reduced revenue for the government.

izzou:


I saw a cow that costs 950k today.

No jokes....Cow wey people dey pick for 450k years back.

So, i can relate with what you're saying.

Itsrm:


One day I wanted to buy apple, the woman told me it was 500 naira per one. The apple was smaller than what I usually buy at 400 naira in market square.

Had to ask why her apple is more expensive than market square when market square pays staff, probably has a loan they are servicing and sometimes run 24/7 on diesel. She didn't have any reasonable response apart from the normal cock and bull story of how she bought one at 499 naira and naira is her gain.

Another instance, my son wanted to celebrate his birthday so we had to prepare a party pack for his classmates. I went to the store someone directed me to. I'll point at one thing she will say it's 1500 per one. I'll point at another and she'll say its 2500 per one. Even the pack itself she said its 500 naira per one. There are 22 children in his class. If I put gifts of 5k in one party pack, I'll spend more than 100k. I left her shop and went to mile 3 market.

The pack she told me was 500 per one, I bought dozen for 1000. To think she will even buy cheaper than me because I was so shocked at the price that I didn't even bother to price it.

That experience really opened my eyes. When next I have things to buy in bulk, I head over to mile 3.

TemporaryHansel:


The cost of meat is something else. What I did is buy a fish pond. Anytime I need fish I take people there and they bring fish for me. I didn't pay much money for it, but the fish I've gotten from that place so far if I go to the market to buy it ehnn

TemporaryHansel:


This is bad for some of us. I don't want the naira to be lower than 1,500/$1

BlueRayDick:


Which kind of business will still be selling old stock of as at 500 by now ? How can u be so sure they didn't restock all this while ? U are talking of retail items o.


Items like indomie , spaghetti and other provisions that malls and other retailers go to wholesale shops go restock within days ?

Mind u, the wholesaler lready bought them in large quantity while dollar was high and he certainly won't sell at a loss. So the retailer still buys at high price and will sell to final consumer at higher price.

I saw her post referencing supermarkets bringing down price of their indomie almost immediately after indomie reduce the ex-factory price . That's because those supermarkets get supplied by the producer or their major distributor right from source Na .

Incognito9:


I converted all my savings into dollars when the exchange rate was at $1/1600, and staked it in Binance. But since the Naira started appreciating, I had to redeem the money and trade a coin with it.

TBH, I have doubled the money, so far I'm on the winning side. But if it go below $1000, I will repeat it again.

Nah physical dollar hoarders, I dey pity

TemporaryHansel:


They keep using exchange rate excuse to increase price of products ridiculously.

Incognito9:


I converted all my savings into dollars when the exchange rate was at $1/1600, and staked it in Binance. But since the Naira started appreciating, I had to redeem the money and trade a coin with it.

TBH, I have doubled the money, so far I'm on the winning side. But if it go below $1000, I will repeat it again.

Nah physical dollar hoarders, I dey pity

TemporaryHansel:

Normally dollar earners are still on the good side. But the money for dorime don reduce.

You know that flex of receiving small $2k and in naira it's almost 4m when the rate was about 1900/$1. I really smile that period

izzou:


I saw a cow that costs 950k today.

No jokes....Cow wey people dey pick for 450k years back.

So, i can relate with what you're saying.

Itsrm:


One day I wanted to buy apple, the woman told me it was 500 naira per one. The apple was smaller than what I usually buy at 400 naira in market square.

Had to ask why her apple is more expensive than market square when market square pays staff, probably has a loan they are servicing and sometimes run 24/7 on diesel. She didn't have any reasonable response apart from the normal cock and bull story of how she bought one at 499 naira and one naira is her gain.

Another instance, my son wanted to celebrate his birthday so we had to prepare a party pack for his classmates. I went to the store someone directed me to. I'll point at one thing she will say it's 1500 per one. I'll point at another and she'll say its 2500 per one. Even the pack itself she said it was 500 naira per one. There are 22 children in his class. If I put gifts of 5k in one party pack, I'll spend more than 100k. I left her shop and went to mile 3 market.

The pack she told me was 500 per one, I bought dozen for 1000. To think she will even buy cheaper than me because I was so shocked at the price that I didn't even bother to price it.

That experience really opened my eyes. When next I have things to buy in bulk, I head over to mile 3.

Itsrm:


I was saying it that time that the idea of buying usdt with naira and hoping to sell higher does not make any sense to me.

If you buy dollar, make sure you invest it in something that can give some returns. If naira gains, you offset it with the returns. It may not offset all the loss but at least, you'll be in a better position than someone who just left it idle.

KingTom:

Cow na 1.2m for Calabar, woe betide anybody wey him in-law die now o

Na to pay boys wey go tiff one from Fulani herdsmen

BlueRayDick:


Apple is imported and not grown in Nigeria .

Market Square is able to sell at a reduced cost due to economies of scale. Market square's cost of operation/production is spread over a large number of goods.

iamoyindamola:

No be fifo we they use for perishable and expiring goods in this country?

Incognito9:


That's true.

The reason I converted my savings to usdt is because of their stake daily rewards. It was huge mehn, e.g the picture below 👇

A 5000 usdt will be giving you 2 dollar per day, so the monthly reward is up to 60 dollars which is huge to me considering I was just saving the money in naira account.

And this is on 14% APR, there was a time the APR reach 30%, omo

Nah the physical dollar hoarders are the ones loosing if naira appreciate.

izzou:


I saw a cow that costs 950k today.

No jokes....Cow wey people dey pick for 450k years back.

So, i can relate with what you're saying.

Itsrm:


Except that things in market square are not cheap. Ideally, you get things cheaper outside than in market square. When market square was selling indomie at 18k, the woman that supplies my wife was selling 16,500.

The apple seller na just criminal.

izzou:


Na to pay boys wey go tiff one from Fulani herdsmen