Some people say yahoo boys are helping the economy of Nigeria, indirectly it might be true, but we can't say only yahoo boys are helping the economy that is a ridiculous idea, fact is that illegal and legal act all help in the economy, that is what most moral people won't admit. Another Fact is that the economy does not care where your money is from, the economy only care about buying and selling.

Now let's get to how Yahoo boys are making Nigerian poorer.

Fact is that there are lot of yahoo boys in Nigeria that is due to high rate of unemployment, people got to survive. Once a yahoo boy makes money, he spends it lavishly, he does not price, he buys things at ridiculous prices, a pack of boxers worth 3k might be bought by a yahoo boy for 8k. When this happens regularly, business owners starts to think that everyone is a yahoo boy so can afford the lifestyle, so anyone that comes to his shop, the pair of boxers will be sold at that same price. That means Lot of addictive gain for the shop owner.

The food seller who sells her food for 500 naira, after noticing the type of young guys with cars that comes to her restaurant, decide to hike her price from 500 to 2000, she noticed nobody complains and she infact got more customers from these yahoo boys, she loses her non yahoo boys customers who are loyal customers, she does care because her margin is still high

Repeat this process for the landlord, car dealers, furniture maker, etc and you will see thesame results.

If this becomes the norm, it means lot of people will be sent to the poverty line because the price of their basic source of existence would have been increased by 1000% that literally means more suffering for them,e.g no food, no accomdation etc because of the unnecessary hike. Fact is that these sudden hikes all thanks to yahoo boys are one of the causes of inflation in Nigeria.

The writer of the piece above, never attended a single economics class.

That's why we urge everyone to vote for Peter Obi, he will promote education and make our people of Nigeria to understand the dynamics of demand and supply as it affects price determination.

May God help Nigeria.

Actually I would say Yahoo boys increase poverty because they destroy Nigeria business reputation many foreign countries now refuse to do business with Nigeria damaging our GDP

PresidObi:
The writer of the piece above, never attended a single economics class.

That's why we urge everyone to vote for Peter Obi, he will promote education and make our people of Nigeria to understand the dynamics of demand and supply as it affects price determination.

May God help Nigeria.

I think you just made one of the most disturbing comment ever on nairaland.

Sometimes, it will better not type than to type jargon in the gathering of professors

So politician na make the country rich as them da share the money. My bro no confused urself

LordVoldermort:
Actually I would say Yahoo boys increase poverty because they destroy Nigeria business reputation many foreign countries now refuse to do business with Nigeria damaging our GDP

Yeah that is internationally but locally they are also damaging the economy because of lack of price control.

They are sending more people to poverty and creating a system where sellers think every young guy is a yahoo boy that they can exploit

Hyperchi:
So politician na make the country rich as them da share the money. My bro no confused urself

Read well to understand

Then the politicians are killing the Nigerians’ future openly…

There is a truth in your write up. You are cool.. but also our bad government stealing our money harming us damn too much..

LordVoldermort:
Actually I would say Yahoo boys increase poverty because they destroy Nigeria business reputation many foreign countries now refuse to do business with Nigeria damaging our GDP

I agree with you. thebosstrevor1 is also right. Yahoo boys are destroying the economy.
In summary
1. Unnecessary increasing in prices of goods and services due to reckless spending by yahoo boys
2. Low FDI due activities of yahoo boys.

LordVoldermort:
Actually I would say Yahoo boys increase poverty because they destroy Nigeria business reputation many foreign countries now refuse to do business with Nigeria damaging our GDP

Unfriendly policies by government chase investors , in other words cause unemployment and final result is youth doing fraud.

Ask some youth doing online job how lack of electricity as frustrated their productivity.

One guy even said he always go to beg fuel station manager to allow him use their light.

Let's learn to know the root of our problem.
The op is also a partisan and won't talk about the root of high rate of youth going into fraud.

Why do people say yahoo boy lol. It's fraudster.

thebosstrevor1:


Read well to understand

He reads well, what you wrote is just a conspiracy with no evidence.

Inflation is what cause increasing price.

tollyboy5:

He reads well, what you wrote is just a conspiracy with no evidence.

Inflation is what cause increasing price.

You are like him.

Just one question

What are one of the causes inflation?

Op you might actually not be far from the truth..

.

thebosstrevor1:


Yeah that is internationally but locally they are also damaging the economy because of lack of price control.

They are sending more people to poverty and creating a system where sellers think every young guy is a yahoo boy that they can exploit

You should blame igbo traders for their greed and non chalant stupidity.....na mostly dem wey dey hike price for market

Kaiair:

You should blame igbo traders for their greed and non chalant stupidity.....na mostly dem wey dey hike price for market

not only Igbo traders.even in schools.Yahoo boys made d landlords to increase their rent.

lolu2019:
not only Igbo traders.even in schools.Yahoo boys made d landlords to increase their rent.

This days shop owners go size u b4 dem even give you chance to speak . .....my coursemate was recently lamenting how he entered a shop to buy a phone pad for his pixel, na so 4 boys also enter all of dem dey use iphone 13, dem wan also buy back cover as the shop owner see iphone 13 him rudely dismiss my coursemate tell am say him no get wetin him dey find, make him comot him dey block road

Kaiair:

This days shop owners don dey size people up .....my coursemate was recently lamenting how he entered a shop to buy a phone pad for his pixel, na so 4 boys also enter all of dem dey use iphone 13, dem wan also buy back cover as the shop owner see iphone 13 him rudely dismiss my coursemate tell am say him no get wetin him dey find, make him comot him dey block road

lol,very funny.na the future be koko.tell ur friend to just calm down and focus on his dreams.the future is bright.

PresidObi:
The writer of the piece above, never attended a single economics class.

That's why we urge everyone to vote for Peter Obi, he will promote education and make our people of Nigeria to understand the dynamics of demand and supply as it affects price determination.

May God help Nigeria.

dull writer using yahoo boys as an index for measuring economic depression

LordVoldermort:
Actually I would say Yahoo boys increase poverty because they destroy Nigeria business reputation many foreign countries now refuse to do business with Nigeria damaging our GDP

That's all. Case closed.

@OP, no offence, but idea of yahoo boys stoking inflation is as preposterous as they come.

What percentage do they constitute?. Fact is they are far too small (in relation to our population) to have any SERIOUS effect on our everyday market. If at all, then it's probably high end luxury items like exotic cars, perfumes, etc.

Any economist will tell you our current inflationary pressures have less to do with demand and more to do with ever increasing cost of production. From light to supply chains, to dollar scarcity. . .

You're right but if not for the yahoo boys, you for nor dey press that your phone with peace of mind even inside your house cos the kidnapping and stealing for worse pass so.

The one way bust my head na i go sapele make this lady fry two superpack noodles and two eggs she say na 1,100 for roadside kiosk.

The OP is actually right. I have a brother who earns 80k monthly in Delta state (Abraka to be precise)
He's literally living below poverty line. He can hardly buy simple things in the market. I'm in Lagos but when he tells me the prices of basic household items I cannot help but shout.
His selfcon rent expired and the landlord raised the tent from 180 to 350k.
I was like "but Abraka is not a city now, and students are on strike" he said "yahoo boys no dey price"

PresidObi:
The writer of the piece above, never attended a single economics class.

That's why we urge everyone to vote for Peter Obi, he will promote education and make our people of Nigeria to understand the dynamics of demand and supply as it affects price determination.

May God help Nigeria.

Your Comment is a big stain on the whole obidient clan.
Tuah!!

the activities of a fraudster affects his society 10x more.
it is also bad that greed has made them the core hope and customers of some businesses.
i keep saying it,
it is injustice to prosecute a fraudster and leave his beneficiaries to go free - especially the landlord, fashion suppliers and car dealers. most of these persons are fully aware that the person is a fraudster but are cool with it because they benefit from it.

A typical example is Mexico, with all the Drug money and banditry ramsom in circulation, the poor are very poor. Even the natural resources can't even safe them.

bjtinz:
@OP, no offence, but idea of yahoo boys stoking inflation is as preposterous as they come.

What percentage do they constitute?. Fact is they are far too small (in relation to our population) to have any SERIOUS effect on our everyday market. If at all, then it's probably high end luxury items like exotic cars, perfumes, etc.

Any economist will tell you our current inflationary pressures have less to do with demand and more to do with ever increasing cost of production. From light to supply chains, to dollar scarcity. . .

Have you ever read about the pareto principle ( 80/20 rules)

We can also say 80% of wealth is controlled by 20% of the people.

Read nassim taleb book skin in the game, it will explain to you how a minority can dictate price for the majority.

Yes, the number of yahoo boys might be small but they influence majority of the sellers price decisions. infact many bouquets in not so good neighborhoods sell fake designer shirts for 16k and the owner of the shop isn't losing customers, now how will the average people in that place be able to afford something like that. It is funny how some set of people pay ridiculous amounts for fake things in Nigeria.

Not to brag or anything, i have an economics degree abd wgat you wrote up here is pure rubbish!