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Dollar Hike: We Are Our Own Problem - Business - Nairaland

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Dollar Hike: We Are Our Own Problem by Sanchez01: 10:13pm On Feb 26, 2016
Nigerians are perhaps the most opportunistic people on earth. With the recent hike in the Dollar against the Naira at the parallel market, One would think "hoarders" and traders have been praying for this moment to happen. They smile when they sell to you under the aegis of "Dollar has gone up" yet groan and blame Buhari when they themselves buy things they need to survive.

The recent hike in "pure water" price, from Lagos to Benin, to Enugu, one would realize after careful analysis that these people have no business increasing the prices of their products just because they intend to make horrible profits. There's a big difference between ripping off and making profits, and the former is what most have resorted to.

Just recently I called a popular sachet water company in Enugu here to supply me with water that would last me for a month, the owner, whom I spoke with on the phone intimated me that the initial selling price of N80 per bag had been abandoned and the new price is N100. His reason? "The Dollar has gone up". I had no choice but to settle for it, asked him to send his boys over after telling him how many I wanted.

With the heat and terrible atmosphere, I had finished every water in the house while still thirsty. I dashed out of the house to get a bag from a retailer around. The one I had ordered for was taking too long and I couldn't stand it; I couldn't bring myself to wait for the pure water vehicle to arrive.

To my amazement, the retailer just close to the house who had stocked even before the price of N100 per bag came into play told me he sells a bag for N150! "Why?" I mustered strength to ask him. "Are you not in this country?", he quizzed. "You no know say Dollar don cost?", he responded. I simply couldn't believe it. Let's pretend and just give it to him that he had bought his water at the rate of N100 per bag just like I confirmed from the man I spoke with on the phone, why wouldn't the retailer sell for N120 or N130? Why sell with a 50% profit just because everyone around him complains of the Dollar

There are virtually goods cum products in the market that had long been stocked before the Dollar rise and then you discover that their prices jump off the roof all of a sudden for no reason.

It is really saddening that we are the ones making life hard for ourselves. Worst of all, we are very much aware of this but would still not bat an eyelid. I find it baffling that we're quick to hike prices of goods and services and at the end of the day, find it hard to revert to the original price before the brouhaha responsible for the hike came into being. No one is saying profits should not be made, but when it becomes rip offs and cheap shots, then it shows that we are the most inconsiderate people ever. It shows that we are our own problems.

133 Likes 11 Shares

Re: Dollar Hike: We Are Our Own Problem by dsquare33: 10:42pm On Feb 26, 2016
It is glaring that Nigerians are their own worst enemies.Even the pepper and meat seller are using Dollars as an excuse to hike their products, no wonder the country is not moving forward.

66 Likes 5 Shares

Re: Dollar Hike: We Are Our Own Problem by chriskosherbal(m): 10:48pm On Feb 26, 2016
Then we can still solve it together.

3 Likes

Re: Dollar Hike: We Are Our Own Problem by Sanchez01: 10:53pm On Feb 26, 2016
dsquare33:
It is glaring that Nigerians are their own worst enemies.Even the pepper and meat seller are using Dollars as an excuse to hike their products, no wonder the country is not moving forward.
And eventually they would blame the government for the harshness of the economy without realizing the rippling effect of their actions.

26 Likes 4 Shares

Re: Dollar Hike: We Are Our Own Problem by Sanchez01: 10:54pm On Feb 26, 2016
chriskosherbal:
Then we can still solve it together.
Solve it together? How The truth is, we are blinded by greed and often times care less about how the man next door feels because we're gaining and taking advantage of the present moment. Only God can soften the heart to make our people sensitive in harsh times as this.

13 Likes

Re: Dollar Hike: We Are Our Own Problem by udatso: 9:14am On Feb 27, 2016
I wish there's a way the government can control this. At this rate we are heading towards.. ........



Well done sanchez01

1 Like

Re: Dollar Hike: We Are Our Own Problem by demosoft: 9:17am On Feb 27, 2016
hmmmmmmmmmm

1 Like

Re: Dollar Hike: We Are Our Own Problem by Sanchez01: 9:28am On Feb 27, 2016
udatso:
I wish there's a way the government can control this. At this rate we are heading towards.. ........



Well done sanchez01
That's the most important thing. Unfortunately, should this present government step in, people will scream "we're being taken back to the 80's". Perhaps we should blame illiteracy, I honestly don't know. Thanks.

15 Likes

Re: Dollar Hike: We Are Our Own Problem by udatso: 9:33am On Feb 27, 2016
Sanchez01:

That's the most important thing. Unfortunately, should this present government step in, people will scream "we're being taken back to the 80's". Perhaps we should blame illiteracy, I honestly don't know. Thanks.
We want change but not willing to pay the price. We are not willing to give up old, destructive and dangerous habits

19 Likes 2 Shares

Re: Dollar Hike: We Are Our Own Problem by Sanchez01: 9:50am On Feb 27, 2016
udatso:

We want change but not willing to pay the price. We are not willing to give up old, destructive and dangerous habits
To us, Change is magic and it must come from those we voted in while failing to do that which is expected of us. It's like doing the same thing every time while expecting a different result.


Lalasticlala, Mynd44, please help here.

15 Likes 3 Shares

Re: Dollar Hike: We Are Our Own Problem by udatso: 9:57am On Feb 27, 2016
Sanchez01:

To us, Change is magic and it must come from those we voted in while failing to do that which is expected of us. It's like doing the same thing every time while expecting a different result.


Lalasticlala, Mynd44, please help here.
Mods Pls do something to this very educative piece. Even though many people would disregard this, they would Know that they are part of the cause of our problems. I can't believe a Nigerian was praying for our naira to keep falling as long as he makes profit.

2 Likes 1 Share

Re: Dollar Hike: We Are Our Own Problem by dguizman(m): 1:01pm On Feb 27, 2016
That is the type of situation we find our self in this country....everybody one hammer with every opportunity
Re: Dollar Hike: We Are Our Own Problem by money121(m): 1:01pm On Feb 27, 2016
Ok Lalasticlala can this thread hit frontpage?? Photo: Paralysed Man Shot By Robbers, Makes Shoes For A Living See here >> https://www.nairaland.com/2959083/photo-paralysed-man-shot-robbers

3 Likes 2 Shares

Re: Dollar Hike: We Are Our Own Problem by ThePeacemaker(m): 1:01pm On Feb 27, 2016
YAWNSSSSSSSSSSSSSSSSSS undecided undecided undecided undecided undecided

5 Likes

Re: Dollar Hike: We Are Our Own Problem by dovie002(m): 1:01pm On Feb 27, 2016
Ok nah
Re: Dollar Hike: We Are Our Own Problem by Innodon(m): 1:01pm On Feb 27, 2016
Heard
Re: Dollar Hike: We Are Our Own Problem by AbdulHaram(m): 1:01pm On Feb 27, 2016
Ok, Lalasticlala, this thread appears double on the front page! angry
Re: Dollar Hike: We Are Our Own Problem by thefakestan: 1:02pm On Feb 27, 2016
Nothing dey happen

@OP cry me a River.


ThefakeStan
Re: Dollar Hike: We Are Our Own Problem by phaoxy(m): 1:02pm On Feb 27, 2016
Watching dis situation like epl.......
Re: Dollar Hike: We Are Our Own Problem by osaslord500(m): 1:02pm On Feb 27, 2016
what the op don't understand is the fact that the pure water seller will also buy other things affected by dollar for a higher price. If the pure water seller is to buy a bag of rice which is now 14k from 9k, he needs to increase the price of pure water

24 Likes

Re: Dollar Hike: We Are Our Own Problem by oluseyiforjesus(m): 1:02pm On Feb 27, 2016
The worst problem to win is wen u are d Problem of urslf
Re: Dollar Hike: We Are Our Own Problem by minasota(f): 1:02pm On Feb 27, 2016
BUHAR! is our problemgrin

1 Like

Re: Dollar Hike: We Are Our Own Problem by NairaMoneyng: 1:03pm On Feb 27, 2016
true
Re: Dollar Hike: We Are Our Own Problem by Marshallian(m): 1:03pm On Feb 27, 2016
Hmmmm...... indeed
he might be right
Re: Dollar Hike: We Are Our Own Problem by DankemzI(m): 1:03pm On Feb 27, 2016
Even bread prize don rise
Do we also import flours'
Buhari better setup a committee to look into this pure water pricr undecided

1 Like

Re: Dollar Hike: We Are Our Own Problem by Nobody: 1:04pm On Feb 27, 2016
God bless the Mod who banned me
Re: Dollar Hike: We Are Our Own Problem by mmsen: 1:05pm On Feb 27, 2016
Sanchez01:

Solve it together? How The truth is, we are blinded by greed and often times care less about how the man next door feels because we're gaining and taking advantage of the present moment. Only God can soften the heart to make our people sensitive in harsh times as this.

Which 'god'? The one who flooded the entire world? Or the one who told Muhammad that no two religions should exist (in Arabia) and so prompted him to go on a killing spree?

Or maybe you speak of the god whose only solution to 'sin' was the public execution of his 'only begotten son'?

The only thing that is softened by belief in god are human minds.

7 Likes

Re: Dollar Hike: We Are Our Own Problem by amunkita(m): 1:07pm On Feb 27, 2016
If prostitutes can increase their price cous of dollar why won't a pure water seller...
The worst is that Ogiri price increased too nd u wondering watin concern ogiri, totoris with foreign exchange..

We re truly responsible for our own problem...
Re: Dollar Hike: We Are Our Own Problem by Phoenix212(m): 1:08pm On Feb 27, 2016
but d poor trader also buy some oda goods na.OK lets take for instance if a trader keep making his usual 10 naira per sale,and the price of every oda tin has escalated,ranging from transport to even toothpick.how will dis poor trader meet up.let's address and fix d economic problem from d top pls

2 Likes

Re: Dollar Hike: We Are Our Own Problem by Archilouis(m): 1:09pm On Feb 27, 2016
Really true of us
Re: Dollar Hike: We Are Our Own Problem by wristbangle: 1:10pm On Feb 27, 2016
Yesterday I wanted to buy a wrap of pawpaw from a hawker and she told me that it goes for N100, which used to be N50. I asked her why the sudden increase in the price. She replied "Oga u no dey this country? Dollars don go up oo!

What has increase in dollars got to do with our local commodities? It's not as if we are importing these food crops.

Nigerians are truly her enemies and I feel we have a duty to salvage this illicit behaviour of hers taking advantage of the harsh economy to inflict pains on ourselves.

Like the OP said, even when things return to normal, we find it difficult to revert the price. We like ripping ourselves and no doubt the change we clamour can never happen even if the government is contributing their quota.

5 Likes 2 Shares

Re: Dollar Hike: We Are Our Own Problem by bebe2(f): 1:11pm On Feb 27, 2016
I need naira oo

Traders, students, tourist if u need pounds in UK pls contact me. Competitive rate.


We also do money transfer to Nigeria bank accounts .

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