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Why Are Nigerians So Quick To Accept Inflation? - Business (2) - Nairaland

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Re: Why Are Nigerians So Quick To Accept Inflation? by ekanx27(m): 7:58pm On Nov 05, 2021
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Re: Why Are Nigerians So Quick To Accept Inflation? by Onyenna(m): 7:59pm On Nov 05, 2021
siofra:
Who still dey eat sardine??

If you're still eating sardine God will judge you angry

Lmao!!
Re: Why Are Nigerians So Quick To Accept Inflation? by NamelessOGBENI(m): 7:59pm On Nov 05, 2021
Your answer:

Suffering and smiling is our second name, we're so docile that we believe that the legion of heaven are coming to fight for us and yes, they are coming but to drum sense into our brains.

Sadly, the government and the kangaroos largely oligarchy by nature are the winners here while the masses keep hoping.

Festivity na cash out for some folks sef

6 Likes

Re: Why Are Nigerians So Quick To Accept Inflation? by LiegeMan(m): 7:59pm On Nov 05, 2021
sad
Okay
Re: Why Are Nigerians So Quick To Accept Inflation? by Truth234(m): 7:59pm On Nov 05, 2021
SeaTrade:
Nigeria is the only country in the world where a product will jump in price by 50% and sales of that product won't change.

It has made corporations greedy and they milk Nigerians with reckless abandon at the slightest opportunity.

Why can't people just boycott those greedy brands,move to cheaper ones and let it sink in the heads of this corporations that no brand is too big to fail,irrespective of product or distribution network.

As someone that has travelled a lot around Africa,I can boast that Nigeria is the only place where this happens and consumers will show vulnerability and dependency by simply continuing patronage and showing these people that "we don't have a choice".
This is a very wrong message to pass,make una try wise up abeg.

Brand loyalty is a daft thing to do cos you would be taken advantage of by oligarchs.
I drop my pen.

This needs to get to front page let's discuss more on this.

Most Nigerians don't know the impact of inflation on them. I have spoken with a lot and I found out they don't understand it affects everything from salary to the food they buy, clothes they wear etc.

Presently, the US, the world's largest economy, is approaching the economy differently because inflation rose to 5.4 percent in September and COVID-19 induced supply bottleneck is disrupting the economy. It is basically lack of education.

Earlier today, I wrote a piece on why the US FED won't raise rates because of the current increase in consumer prices (inflation). You can read it here https://investorsking.com/2021/11/05/as-us-federal-reserve-commences-tapering-how-does-it-affect-nigeria/

2 Likes 1 Share

Re: Why Are Nigerians So Quick To Accept Inflation? by gasparpisciotta: 7:59pm On Nov 05, 2021
To boycott na beans?

Prices of most items are affected.

1 Like 1 Share

Re: Why Are Nigerians So Quick To Accept Inflation? by greatiyk4u(m): 7:59pm On Nov 05, 2021
Intelligent post

4 Likes

Re: Why Are Nigerians So Quick To Accept Inflation? by chaseblack(m): 8:00pm On Nov 05, 2021
No choice... But I have been particular about boycotting bread .
I eat bread and spagg on average of once a month and I don't regret it,that shit isn't even healthy with its wheat /gluten content.
It was an easy decision.

One woman sells her card 210 ,I'll rather walk a mile to buy it 200 somewhere else.
Cos I reason ,if this woman can sell hers 200 ,why is the other one selling hers 210 and don't be surprised they probably get it from the same place

12 Likes

Re: Why Are Nigerians So Quick To Accept Inflation? by donsharwama(m): 8:00pm On Nov 05, 2021
Because we dont have any1 to complain to.. the system is messed up.

We don't have a working govt.

5 Likes 1 Share

Re: Why Are Nigerians So Quick To Accept Inflation? by franchasng: 8:00pm On Nov 05, 2021
SeaTrade:
Nigeria is the only country in the world where a product will jump in price by 50% and sales of that product won't change.

It has made corporations greedy and they milk Nigerians with reckless abandon at the slightest opportunity.

Why can't people just boycott those greedy brands,move to cheaper ones and let it sink in the heads of this corporations that no brand is too big to fail,irrespective of product or distribution network.

As someone that has travelled a lot around Africa,I can boast that Nigeria is the only place where this happens and consumers will show vulnerability and dependency by simply continuing patronage and showing these people that "we don't have a choice".
This is a very wrong message to pass,make una try wise up abeg.

Brand loyalty is a daft thing to do cos you would be taken advantage of by oligarchs.
I drop my pen.

This needs to get to front page let's discuss more on this.
it is because years and decades of consecutive bad Presidents and Governors have destroyed Nigeria so bad that Nigerians have come to accept evil as normal and anybody resisting evil as a mad person.



Years of bad governance have destroyed the psych of majority of Nigerians, they have come to have this natural belief that things can only get worst in Nigeria, so no matter how bad things become, Nigerians accept it cheerfully and take as natural.

Decades of corrupt government have made Nigerians to believe that they don't have any other choice but to accept whatever the society throws at them, so everybody tries to hike the price of whatever he or she is selling as a way of recovering whatever he lost from buying other commodities.

Another reason is the religion factor. Prosperity preachers have changed the mentality of Nigerians so bad, they only focus on miracle wealth so they can afford anything no matter the price as preachers have made them to believe that's the sign of being righteous.


Don't complain, a born again ought not to complain but respect the leaders and pray for blessings

15 Likes 4 Shares

Re: Why Are Nigerians So Quick To Accept Inflation? by angelfallz(m): 8:00pm On Nov 05, 2021
You're right, the worst one is the Christmas season hike in transport fares. For no reason at all the price of buses to the east doubles and sometimes triples.

2 Likes 1 Share

Re: Why Are Nigerians So Quick To Accept Inflation? by jaxxy(m): 8:01pm On Nov 05, 2021
It baffles me myself. Nobody complaining to government, they just adjusting to the rubbish like dey are don jazzy with too much money.

I think Nigerians are so money oppressive conscious or is it unconscious they don’t know or even care about the value of money.

Americans that have more money or maybe a higher money value care about every dollar or nickels. If it goes up they start crying.

I also think Nigerians are used to prices going up and never Down. If prices go down in Nigeria it’s like a 7th wonder. No regulatory system/bodies to ensure the prices go back low. The Naira has been criminally bastardized.

I was just wondering to myself if the kobo is still a legal tender because it has no value. Lol

7 Likes 1 Share

Re: Why Are Nigerians So Quick To Accept Inflation? by cardoctor(m): 8:01pm On Nov 05, 2021
What other choice do you have?
Re: Why Are Nigerians So Quick To Accept Inflation? by Nobody: 8:01pm On Nov 05, 2021
SeaTrade:
Nigeria is the only country in the world where a product will jump in price by 50% and sales of that product won't change.

You must have been to the whole world.

2 Likes 1 Share

Re: Why Are Nigerians So Quick To Accept Inflation? by foxxydude: 8:02pm On Nov 05, 2021
OP you want make trigger happy policemen use us take do target practice

1 Like

Re: Why Are Nigerians So Quick To Accept Inflation? by Nobody: 8:02pm On Nov 05, 2021
The question shouldn't be why are we accepting the price ...it should be what can we do to stop the inflation...on a serious note an average Nigerian has no say concerning inflation and other critical aspect of the country..

2 Likes 1 Share

Re: Why Are Nigerians So Quick To Accept Inflation? by int0x80(m): 8:02pm On Nov 05, 2021
As if they have a choice!
Re: Why Are Nigerians So Quick To Accept Inflation? by tomietush(m): 8:02pm On Nov 05, 2021
Saskay44:
The cheaper ones has lesser quality rem the day I bought bua spaghetti Omo I regretted, told my self even if golden penny gets to 500 that's what I'll continue eattry crown. I had same experience. Just d didf no get meaninging
Re: Why Are Nigerians So Quick To Accept Inflation? by Alexpetra: 8:02pm On Nov 05, 2021
CountVersailles:
I ask myself this same question a lot. I've not seen it happen once that commuters, for example, will protest hike in transport fares by trekking and actually showing these danfo buses who's boss.
In America, black people started walking as a form of protest to segregation in buses. Na beg dem beg dem las las to please come back.
You dey go far... Venezuela wey them increase price of loaf of bread wey country turn upside-down, them they increase the price of gas every night without any reason, we no even talk pim... Our mumu na ultra-max

6 Likes 2 Shares

Re: Why Are Nigerians So Quick To Accept Inflation? by Abfinest007(m): 8:02pm On Nov 05, 2021
The other brands produce low standard quality

1 Like

Re: Why Are Nigerians So Quick To Accept Inflation? by PHIPEX(m): 8:03pm On Nov 05, 2021
But many people switch products due to price changes, you might not know but it happens daily.
Some stopped driving often as fuel prices changed. Some relocated from the heart of Lagos to outskirts of Lagos due to high rental figures.

Some switched from Semovita to garri, rice to spaghetti. Fast food joints to road side Mama put etc.

There are however products the Economists classified as having inelastic demand so no matter the change in their prices, people will still buy them eg salt, water and maybe gas for some people. These are basic to survival and can't be switched.

9 Likes

Re: Why Are Nigerians So Quick To Accept Inflation? by tomietush(m): 8:03pm On Nov 05, 2021
Try crown. Thou d price diff no plenty
Saskay44:
The cheaper ones has lesser quality rem the day I bought bua spaghetti Omo I regretted, told my self even if golden penny gets to 500 that's what I'll continue eating
Re: Why Are Nigerians So Quick To Accept Inflation? by JackWolfskin: 8:04pm On Nov 05, 2021
Mapgan:
We no get choice na

We do!

1 Like

Re: Why Are Nigerians So Quick To Accept Inflation? by BigBashiru: 8:04pm On Nov 05, 2021
adonainana:
Boycotting is hard cos there are not that many alternatives that can serve the same purpose

Also the elasticity of the demand for the product matters a lot

Right now sardine is like 650:700 from like 250 some months ago

Someone said they tried to go for another brand not sure of the name and was cheaper

Omo the almost vomited the bread they wanted to eat the sardine with

May God save Nigeria one day

Nigerians are wicked to themselves. When covid 19 came out, face mask was also selling for very high.

9 Likes 1 Share

Re: Why Are Nigerians So Quick To Accept Inflation? by Nobody: 8:06pm On Nov 05, 2021
Why should you boycott a product you so much love.

1 Like

Re: Why Are Nigerians So Quick To Accept Inflation? by angelfallz(m): 8:06pm On Nov 05, 2021
Shey it's Titus sardine that is now ₦650 to ₦700?
Last month I wanted to buy sardine, I intentionally went for the one that is not a popular brand, the cashier told me it was ₦500. Omo I just went and dropped it back. If that one that is not popular is ₦500 how much would Titus sardine be?

adonainana:
Boycotting is hard cos there are not that many alternatives that can serve the same purpose

Also the elasticity of the demand for the product matters a lot

Right now sardine is like 650:700 from like 250 some months ago

Someone said they tried to go for another brand not sure of the name and was cheaper

Omo the almost vomited the bread they wanted to eat the sardine with

May God save Nigeria one day

7 Likes 1 Share

Re: Why Are Nigerians So Quick To Accept Inflation? by Lordave: 8:07pm On Nov 05, 2021
PoliticallyLeft:

You'll be surprised that 80% of Southerners are happy that things are hard in the country even though they are suffering.

If they purchase cheaper substitutes, how will they post on Instagram that they purchase something worth 1000 naira for 2000 naira and blame Buhari? grin


You sound like a fool.

8 Likes

Re: Why Are Nigerians So Quick To Accept Inflation? by Tobest94: 8:08pm On Nov 05, 2021
This is a very good research area as against what’s taught in economics.. Personally, I think it’s because the prices of substitutes move up also

1 Like

Re: Why Are Nigerians So Quick To Accept Inflation? by angelfallz(m): 8:08pm On Nov 05, 2021
Does this happen with indomie?
Because the price that is on the pack is not what I buy it at oh!
RealLordZeus:
Forget about the leaders and big corps, we citizens are terrible when it comes to morality.

You will see a product the manufacturer branded it boldly that the retail price is 50naira and the mama shop insisted on selling it at 80naira, and you need to use that product, you just frown face, blame buhari and buy the product.

All this trader associations are also local thieves


Re: Why Are Nigerians So Quick To Accept Inflation? by emmyN(m): 8:09pm On Nov 05, 2021
The problem is yahoo boys. They bring money into the economy and spend with reckless abandon. Money they didn't earn.

5 Likes

Re: Why Are Nigerians So Quick To Accept Inflation? by Alexpetra: 8:09pm On Nov 05, 2021
Alexpetra:
You dey go far... Venezuela wey them increase price of loaf of bread wey country turn upside-down, them they increase the price of gas every night without any reason, we no even talk pim... Our mumu na ultra-max
We are poor and if the price commodities change the poor people that suppose to voice out will accept it, and we expect them to believe us that we're poor??

1 Like 1 Share

Re: Why Are Nigerians So Quick To Accept Inflation? by Bigchristo: 8:10pm On Nov 05, 2021
CountVersailles:
I ask myself this same question a lot. I've not seen it happen once that commuters, for example, will protest hike in transport fares by trekking and actually showing these danfo buses who's boss.
In America, black people started walking as a form of protest to segregation in buses. Na beg dem beg dem las las to please come back.
Try am here you go trek your life scatter nobody will join you on such protest grin grin grin

1 Like 1 Share

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