A few days ago, it was reported that the Buhari Government may remove the petroleum subsidy completely at the start to mid-2022. When that happens, the petroleum pump price is expected to rise higher than N1,000.

We know how fuel pump price affects the price of everything from transportation to food, and more. So, it means that the inflation we have now will be a small thing compared to what is coming.

Is there any idea you have on how Nigerians can overcome inflation? Please share.

LET ME START: I advise more Nigerians to find an income stream that earns either cryptocurrency or a fiat hard currency. This will help to stabilize your personal finances against any inflation.

If you are a beginner in crypto currency, I recommend this thread to you: https://www.nairaland.com/6838631/crypto-kindergarten-school-where-get

Please, no idea is bad. But, let's kindly be responsible.

Unfortunately, we can not... I refilled my gas cylinder for 10k today

dawnomike:
Unfortunately, we can not... I refilled my gas cylinder for 10k today

Never say the word 'CANNOT' unless it's totally beyond human ability. Let's stop being faithless religious people.

Save in dollars if possible.

Maybe also look for ways to earn in dollars

The subsidy will be removed when Dangote refinery start producing. Pump price no go pass 250 because dollar will no longer be involved, he buys crude in Naira and sell refined products in Naira.

Give it tribal or religious coloration and watch Nigerians rise from the dead!

Government can fight inflation by Price control. The reason why we have inflation is mostly because of greedy middle men inflating the prices of goods and services.

A price control will drastically reduce the cost of goods and services.

If Nigerians want to overcome inflation they can either start investing in government bonds, Treasury bills, start a profitable business or invest in btc or ethereum.

thebosstrevor1:
Government can fight inflation by Price control. The reason why we have inflation is mostly because of greedy middle men inflating the prices of goods and services.

A price control will drastically reduce the cost of goods and services.

If Nigerians want to overcome inflation they can either start investing in government bonds, Treasury bills, start a profitable business or invest in btc or ethereum.

Middle men, middle men, middle men

Them no get name So how solution go the dey

If na to go after Nnamdi Kanu now, them go get proper plan

This regime has failed in all ramifications!

10mobile:

Never say the word 'CANNOT' unless it's totally beyond human ability. Let's stop being faithless religious people.

Faith has nothing to do with the economy of a Nation... If we do things right, we will get the right results.

thebosstrevor1:
Government can fight inflation by Price control. The reason why we have inflation is mostly because of greedy middle men inflating the prices of goods and services.

A price control will drastically reduce the cost of goods and services.

If Nigerians want to overcome inflation they can either start investing in government bonds, Treasury bills, start a profitable business or invest in btc or ethereum.

Kindly delete bonds and treasury bills from your list. Have you seen the rates lately?

Japa....

[img]https://c./UrPiFhRSivYAAAAC/plane-pippi-longstocking.gif[/img]

Wiseandtrue:

Middle men, middle men, middle men

Them no get name So how solution go the dey

If na to go after Nnamdi Kanu now, them go get proper plan

This regime has failed in all ramifications!

Thebosstrevor1 is only trying to get paid for his digital marketing of the Buhari Government. Ask him if there weren't middle men and women before Buhari came to power. The prices of things rose sharply in 2015 as soon as Buhari came to power. Ask him to explain this.

10mobile:

Thebosstrevor1 is only trying to get paid for his digital marketing of the Buhari Government. Ask him if there weren't middle men and women before Buhari came to power. The prices of things rose sharply in 2015 as soon as Buhari came to power. Ask him to explain this.

I bet, he won't answer. Meanwhile, this is a nice idea here. How I wished more NLers can join up.

My own suggestion is that Nigeria should encourage local industries and farmers to produce more and more. Also, more Nigerians should go into farming and food processing. If we can solve food inflation, the rest will be easier to tackle.

Can someone tell me if I made sense?

JAMO84:
The subsidy will be removed when Dangote refinery start producing. Pump price no go pass 250 because dollar will no longer be involved, he buys crude in Naira and sell refined products in Naira.

Why is price cooking gas going up? Gas is being manufactured locally. No subsidy of gas.

joyandfaith:


Why is price cooking gas going up? Gas is being manufactured locally. No subsidy of gas.

I haven't research the gas situation, I can't answer your question

10mobile:
A few days ago, it was reported that the Buhari Government may remove the petroleum subsidy completely at the start to mid-2022. When that happens, the petroleum pump price is expected to rise higher than N1,000.

Dont be an alarmist.....nothing like this is going to happen.

thebosstrevor1:
Government can fight inflation by Price control. The reason why we have inflation is mostly because of greedy middle men inflating the prices of goods and services.

A price control will drastically reduce the cost of goods and services.

If Nigerians want to overcome inflation they can either start investing in government bonds, Treasury bills, start a profitable business or invest in btc or ethereum.

Middlemen are a part of the problem
When Buhari said it....they said he is making excuse.
The other problem is the citizens themselves
Nigeria is at least 80% sufficient in rice production but citizens stubbornly insist they wont eat local rice and will rather die than eat local rice...they dont mind foreign rice smuggled inside petrol cans or expired foreign rice as far as it is foreign....some even do it to spite government because they dont like the president

Even the price of cement skyrocket from N2600 to N3800-4000

And someone is talking about having faith that things will get better, when government continue implementing bad economy policies

JAMO84:
I haven't research the gas situation, I can't answer your question

Do your research. International pricing index is used to calculate price of petroleum products unless countries decide to subsidy. Dangote refineries will improve our foreign exchange earning and economy generally but it wouldn't bring down fuel price without subsidy.

Difrent:


Middlemen are a part of the problem
When Buhari said it....they said he is making excuse.
The other problem is the citizens themselves
Nigeria is at least 80% sufficient in rice production but citizens stubbornly insist they wont eat local rice and will rather die than eat local rice...they dont mind foreign rice smuggled inside petrol cans or expired foreign rice as far as it is foreign....some even do it to spite government because they dont like the president

Middle men that he blamed in 80s. It is stupid men that blame others for their problems when they have powers to correct them.

Difrent:


Middlemen are a part of the problem
When Buhari said it....they said he is making excuse.
The other problem is the citizens themselves
Nigeria is at least 80% sufficient in rice production but citizens stubbornly insist they wont eat local rice and will rather die than eat local rice...they dont mind foreign rice smuggled inside petrol cans or expired foreign rice as far as it is foreign....some even do it to spite government because they dont like the president

Ure not saying the truth.... Every single mama put now dey sell local rice... Through out this year every single church program with item seven, local rice was served..... My bro working in sokoto said the main reason was because of bandits are really terrorizing farmers... It's becoming unbearable for them. Do ur research

donb06:


Ure not saying the truth.... Every single mama put now dey sell local rice... Through out this year every single church program with item seven, local rice was served..... My bro working in sokoto said the main reason was because of bandits are really terrorizing farmers... It's becoming unbearable for them. Do ur research

Lol
Harship induced right?....the average southerner will only eat local rice because of hardship
Do you eat local Rice?
Im asking because if you do, you would state it in your comment.
I grew up in the north and i know the extent of rice production right from kwara all the way to yobe even before buhari and anchor borrower....so i know northerners consume local rice but same cannot be said of southerners....southerners are the reasons why people still smuggle foreign rice into the country. Thats why southerners keep condemning the border closure because the main target of border closure is rice importation

Difrent:

Lol
Harship induced right?....the average southerner will only eat local rice because of hardship
Do you eat local Rice?
Im asking because if you do, you would state it in your comment.
I grew up in the north and i know the extent of rice production right from kwara all the way to yobe even before buhari and anchor borrower....so i know northerners consume local rice but same cannot be said of southerners....southerners are the reasons why people still smuggle foreign rice into the country. Thats why southerners keep condemning the border closure because the main target of border closure is rice importation

Let's be objective here.... Most southerners don't eat local rice because of stones including me... You also need to come to anambra and abakiliki to see the amount of rice been produced that weren't consumed because of stones... Even northerners that could afford foreign rice do consume it. Now most local rice are stone free, most southerners now consume it including me to the extent of using it in events
We cannot sacrifice our health and money to patriotism oo... It's same way Nigerians don't patronize made in aba products due to its lack of quality... once Aba people standardize their products people will patronize.... As for the border closure let me teach you some economics... One of the core factors for the free fall of the Naira is border closure. Nigerians freely bought goods with Naira from Benin Republic. Same volume of goods will need to go through the Dollar wahala hence causing the pressure on Naira to the Dollar.

Back to the discussion.... I can boldly tell you the major cause of rise in food prices is BANDITRY. Another core factor is multiple taxation.