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Nairaland Forum / Nairaland / General / Business / Dollar Hike: We Are Our Own Problem (28239 Views)
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Re: Dollar Hike: We Are Our Own Problem by sunnyuche1(m): 1:11pm On Feb 27, 2016 |
Re: Dollar Hike: We Are Our Own Problem by domopps(m): 1:11pm On Feb 27, 2016 |
Yea that's true talk we are in a country where blaming government is other of the day! God help this nation Cheeeeeeers |
Re: Dollar Hike: We Are Our Own Problem by Sanchez01: 1:11pm On Feb 27, 2016 |
mmsen:It's funny how you remain bitter as an Atheist. It would be better you face the discourse at hand. You could engage me the next time I stroll through the religion section, possibly this evening. Regardless, you need not sound bitter or angry to push your belief on others |
Re: Dollar Hike: We Are Our Own Problem by babdap: 1:12pm On Feb 27, 2016 |
We know already, way forward pls. |
Re: Dollar Hike: We Are Our Own Problem by skillet(m): 1:13pm On Feb 27, 2016 |
Shame on us |
Re: Dollar Hike: We Are Our Own Problem by walesho(m): 1:13pm On Feb 27, 2016 |
Same issue with the so called palm wine tappers and shoe cobblers ''Oga dollar don cost". I just laugh in swahili |
Re: Dollar Hike: We Are Our Own Problem by 4Play(m): 1:14pm On Feb 27, 2016 |
This is such a stupid attitude to adopt. In businesses where the barriers to entry are low, greed cannot explain price inflation because any excess profit will be out-competed by other businesses. Supposing pure water sachet can be sold at N5 but "greedy" businesses decide to sell at N10, any enterprising business person can gain market share by selling at N5. This is not like telecoms, cement or power where it is difficult to compete with MTN or Dangote as the barriers to entry - government regulations/licensing, cost of capital investment - are prohibitively high so that the incumbent businesses can keep prices high with little repercussion. There is no power of incumbency in the pure water business. What this thread represents is the penchant Nigerians have to interpret complex issues using the moral framework familiar to religious people. Every setback is a conspiracy or due to malign forces and things will all get better if we seek repentance. In reality, things are more complex: Nigeria's problems are down to a poor choice of policies with the fixed exchange regime being a major bulwark against growth. This is not a morality issue, it's Economics 101. 10 Likes 1 Share |
Re: Dollar Hike: We Are Our Own Problem by Kangol99(m): 1:14pm On Feb 27, 2016 |
Okay ooooooo |
Re: Dollar Hike: We Are Our Own Problem by henryhemon(m): 1:23pm On Feb 27, 2016 |
bebe2: I have naira. |
Re: Dollar Hike: We Are Our Own Problem by rusher14: 1:25pm On Feb 27, 2016 |
osaslord500: True. But let's also produce more rice locally. After all the selling price makes it attractive. |
Re: Dollar Hike: We Are Our Own Problem by bebe2(f): 1:25pm On Feb 27, 2016 |
henryhemon: Wats ur rate? |
Re: Dollar Hike: We Are Our Own Problem by Ahmedie25(m): 1:26pm On Feb 27, 2016 |
The most surprise one is even prostitute increase their fees because of rise of dollar |
Re: Dollar Hike: We Are Our Own Problem by henryhemon(m): 1:29pm On Feb 27, 2016 |
bebe2: How much are you buying? |
Re: Dollar Hike: We Are Our Own Problem by apatuku: 1:31pm On Feb 27, 2016 |
dsquare33:so pepper seller will not buy other goods that are imported. The dollar issue is a multiplier effect. 2 Likes |
Re: Dollar Hike: We Are Our Own Problem by bebe2(f): 1:32pm On Feb 27, 2016 |
henryhemon: 415 yesterday. Don't know about Monday. |
Re: Dollar Hike: We Are Our Own Problem by VocalWalls: 1:34pm On Feb 27, 2016 |
Sanchez01 I share your views. Matter of fact, something I almost got before the hike at 8k became 11k, I ended up coughing out 15k because I needed 5pcs worth of the item. However I'll like to point an error. It's the price hike, not dollar hike. 1 Like |
Re: Dollar Hike: We Are Our Own Problem by mmsen: 1:36pm On Feb 27, 2016 |
Sanchez01: All I've done is ask questions. If you feel that I've said something untrue then please enlighten me with your wisdom. |
Re: Dollar Hike: We Are Our Own Problem by henryhemon(m): 1:38pm On Feb 27, 2016 |
bebe2: You need it on Monday? How much are you looking at exactly? 1 million 2 million? |
Re: Dollar Hike: We Are Our Own Problem by achi4u(m): 1:40pm On Feb 27, 2016 |
osaslord500:Bros you've nailed it kpatakpata, the pure water seller will pay for high cost of vehicle bringing the goods while the vehicle owner will buy spare parts at a very high price.... So, dollar affected everything we need in this country. 2 Likes |
Re: Dollar Hike: We Are Our Own Problem by jesse515: 1:41pm On Feb 27, 2016 |
osaslord500: Abeg tell dis mofos , even glo increase dia comonth sub . Always lookin for ways to blame d mmasses. Dis same tin was wat d current presidiot did in d 80's dat saw to d close down of leventis n oda shops, he has started again but dis tym, his paid agents wants to blame d masses. Propaganda won't solve d problem, it's hard wwork n right atittude dat wil 2 Likes |
Re: Dollar Hike: We Are Our Own Problem by tinktanker: 1:41pm On Feb 27, 2016 |
Sanchez01:d pepper seller still buys other things dat are affected by dollar so how Wld dey survive if dey Don increase theirs. It's a chain so I don't blame dem. |
Re: Dollar Hike: We Are Our Own Problem by Nobody: 1:44pm On Feb 27, 2016 |
Gbam! #bitter truth!! |
Re: Dollar Hike: We Are Our Own Problem by omoseth(m): 1:44pm On Feb 27, 2016 |
Naija!
|
Re: Dollar Hike: We Are Our Own Problem by blackprowler: 1:45pm On Feb 27, 2016 |
It was in 1993 I first made an entry in my journal on this issue. There was a fuel scarcity and I observed with dismay the profiteering going on amongst "poor suffering masses". I still have the journal where I wrote it. I was a university student then experiencing the real world for the first time. I'm very well known on Twitter and nairaland here of saying: "The problem with Nigeria is the Nigerian people themselves, a few of whom are in government (for just a while)". No one has ever taken me on successfully on this charge. The most influential people in Nigeria (whom I've contacted on a project to better country) simple avoid me and when my wahala too much, they block me (latest being Ben Bruce as his hypocrisy started to become clearer). My other quote: "Nigeria is a joke!" simple! 3 Likes |
Re: Dollar Hike: We Are Our Own Problem by vivavik(f): 1:49pm On Feb 27, 2016 |
We are our own problem indeed. I agree big time. |
Re: Dollar Hike: We Are Our Own Problem by Nobody: 1:50pm On Feb 27, 2016 |
Sanchez01: You're an accomplice to this sham and you willingly went along. You should stand on your principles and refuse to participate in the pricing scheme by not buying from price scavengers. Nigerians, we like to complain and wringer our hands and hiss but take no action. Fela said it best, "we no wan die". |
Re: Dollar Hike: We Are Our Own Problem by ojsmscom(m): 1:51pm On Feb 27, 2016 |
That is why we will easily rush to patronize all foreign goods kos we dont tell ourselves the truth |
Re: Dollar Hike: We Are Our Own Problem by tunde4top(m): 1:55pm On Feb 27, 2016 |
Concerning people hiding dollar, you can't really blame them. They perceived naira devaluation in near future, and in aider to take advantage of the situation (which can happen anywhere in the world), they have started hiding dollars, and that again is complicating our problem. If they perceived official appreciation of naira to dollar in near future, do you think that they will not rush to dispose the dollars they have ? (which will help our currency more). Do you think they will want to keep dollar for long ?. Failed economy and something like this are like husband and wife. Concerning the pure water excess charge. A failed government will also naturally give birth to more hardship like this. Why must you blame her for making 50 percent gain when the no of patronage is likely to decrease (as a result of economy hardship on customers), and uncertainty in further increase of water (if dollar increases more), that could again result to scarcity of water if companies decide to close shops. She needs to gain more in what she sells in aider to meet the demand of goods(whose prices have naturally increased as a result of dollar increase, and failed economy) she purchases. |
Re: Dollar Hike: We Are Our Own Problem by abiolag(m): 1:59pm On Feb 27, 2016 |
We r our own problem indeed. Imagine a friend of mine in abroad who I was happy to tell dat d naira is getting strength back during d week (when $1 to #250) was angry wit me cos I said I pray it go down more to #100 or less b4 d year runs out. I was shocked wen he told me he's praying dat it get to $1 to #700 because of his own selfish interest. Small time he will complain dat d govt is killing d country. Wot is he doing for d country? 1 Like |
Re: Dollar Hike: We Are Our Own Problem by bebe2(f): 2:02pm On Feb 27, 2016 |
henryhemon: I can take upto 20k on Monday. It's weekend , won't be able to credit ur acct |
Re: Dollar Hike: We Are Our Own Problem by NOETHNICITY(m): 2:02pm On Feb 27, 2016 |
osaslord500:Omo Edo, where is a bag of rice ssold for 14k? I give u hand! |
Re: Dollar Hike: We Are Our Own Problem by henryhemon(m): 2:04pm On Feb 27, 2016 |
bebe2: Alright then hit me up on Monday. |
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