EnterPRO:
the one I don't understand is pure water. why should price of water double overnight? even in Lagos.

are we importing that one too?

GurlFriend:
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tobiasbeecher:
The writer who wrote this is not too savvy as to how the economy works. Though not an economist, but my elementary knowledge of economics tells me that there is what they call the multiplier effect! The multiplier effect is a concept in economics that describes how an injection into an economy, such as an increase in government spending, creates a ripple effect which increases employment and the output of goods and services in the economy. So vice versa, if there is an increase in the price of dollars (which has been the major currency in most of our business transactions), the resultant effect will be an increase in prices of virtually every commodity in Nigeria. The writer failed to understand that the woman palm oil seller has to transport the said oil to the urban market and probably the transporter must have increased the price of his fares because the last time he went to change his tyres and fuel pump, he has to buy them at 20% price increase because the dealer has to increase price because of scarcity of dollars. This goes around and happens in virtually all sectors of the economy. So the woman palm oil seller may not be wrong after all!

afroniger:
Biko, since Nigerians can't seem to live without dollars, why don't we scrap the naira and kukuma be spending dollars na?! Because this insatiable appetite and demand for dollar as if our lives depend on it is the primary cause of the loss of the naira value. I can't shout.

PLANETMARS:
ur blog reader Is a goat why won't the price of the local oil go up? she should sell at normal rate won't she buy other goods that the pricce hhas sky rocketed? bros tink am na

dguizman:
The house rent stuff got me cracking, that's the situation we find our self in this country.

braine:
Same here. Bag of pure water is now N150 from N80, thats over 90% increase! Do we import water too?

Bevista:
I don't think it's completely out of place for folks to increase the price of their goods and services, even though there is no direct FX input.
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The reality is that these business men/women patronize other goods/services which have increased in prices due to dollar effect. As a result, they have to re-price their items so they can generate enough income to meet the rising price of other items. For instance, mama Nkechi (who sells palm oil or pure water) might need to buy Sardine which has increased from N150 - N200, or replace lost phone which has increased from N20k - N30k, or buy her son a laptop which has increased from N70k - N120k.
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A high exchange rate usually gives rise to (imported) inflation. Should the CBN officially devalues the Naira and fuel price increases, then the inflation will become official. Everything in the market will respond instantaneously with price increase. The REAL value of your salaries will become less since it can now only buy a fraction of what it used to buy.
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Strike action looming from NLC demanding wage increase. Employers will resist, complaining that rising wage will add to the already rising cost of business. SMH!

dominique:
A lot of stores are taking advantage of the the exchange rate to hike the price of items they had in stock months before the dollars rise



I don't want to believe that this really happened.

ThoniaSlim:
Red oil is even better. The Ugo woman close to me increased a bundle from 50 to 100 and blamed it on dollar rise. Please wetin concern Ugu concern dollar!

kilokeys:
Dem dey mad for that country

The good thing is....

Na we we..

Shebi, the woman go buy pure water and other thingz.. She earns more, she spends more..


Now ehn.. I don increase my vexation.. Idiots wey suppose collect 1 slap for talking trash for NL go collect 3.

EnterPRO:
the one I don't understand is pure water. why should price of water double overnight? even in Lagos.

are we importing that one too?

debbie:
The price of bag of pure water in lagos has increased....please what is our problem in Nigeria? we are terrible opportunists.

UrbanMystique:
Exactly.. I was about to start a thread similar to this one.


I wanted to buy boli and groundnut yesterday, the woman was telling dollar ti won, seriously?

ooshinibos:


maybe the landlord is paying his mortgage in dollars

Creamish:


Yeah..heard a mallam hawking sugarcane did the same thing..

joseph1832:
LMFAO! Nigerians will always use lame ass excuses to increase the price of any and everything. Lol.

Creamish:


I juss tire... Same thing happened during the Ebola crisis.. the price of Salt, kola and sanitizers tripled. Opportunists everywhere...

EnterPRO:
the one I don't understand is pure water. why should price of water double overnight? even in Lagos.

are we importing that one too?

GurlFriend:
A blog reader sent us this mail and picture





http://www.lailasblog.com/2016/02/greedy-nigerians-cashing-in-on-rising.html

Bevista:
If the company you work for is already experiencing a challenging business environment due to the rising cost of other factor inputs, how do you think they will react to your demands for wage increase?

GurlFriend:
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http://www.lailasblog.com/2016/02/greedy-nigerians-cashing-in-on-rising.html

debbie:
The price of bag of pure water in lagos has increased....please what is our problem in Nigeria? we are terrible opportunists.