ChybuzzDD:


The laws of economics hardly work in Nigeria, probably because of excessive greed.

The price may not crash as expected.

you are right

nigeria is one weird place

laws of economics hardly follow through here

SirIconR:
Definitely the price of cars will crash

Anyone waiting for car price to crash is day dreamer😂🤣😂🤣

I went to price Honda civic this morning, that car used to go for 900K buh this morning the car goes for 1.8mila I was like kilode na

See this poor soul. Wetin be kulikuli, I dey smoke my own garri with correct suya. You think say na everybody dey live for Ajegunle.

oluwatomiwa:
Especially the V6 and V8 SUVs

To be frank I don't see much different between v6 and 4 plugs cars in regards to fuel consumption. I'm using V6 car and my brother is 4 plugged one.

Nothing crashes in Nigeria. Demand for cars might reduce and importers have to increase their prices to break even.

We Nigerians don’t know economics. Shoot first, and ask question about the oil price later.

zeenaman:
Personal opinion:

The relationship between cars and Petrol is complementary in nature. Complementary in the sense that, one is needed to augment the other, just like garri and kulikuli.

Going by basic economics principle, there is an inverse price relationship between complementary goods i.e an increase in the price of one results in decrease in the demand for the other. With this, it is conceivable that with increase in the price of petroleum, there will be less demand for cars, hence result in price crash occasioned by excess supply over demand.

Also, from the angle of the Federal government, the rich benefit more from the subsidy. People with ten cars will now find it unfunny fueling the convoy, and this may result in selling off some of the vehicles. This should further increase the supply of cars and drive down the price.

Let's talk about this, do you see the price of cars crashing? Let's leave out the Nigerian factor, corruption and base our argument on fact.

In this case, won't the demand and supply curves change (vs change in quantity demanded and quantity supplied)? With a spike in petrol costs won't demand for cars reduce by an order of magnitude way greater than the change in supply?

Nigerians will always devour a means for bypassing this subsidy of a thing... watch and see how a new way of beating all of these will come

Drove my V6 Highlander to work yesterday, I be wan cry inside traffic

A journey that shouldn't take more than 3k fuel to and fro is now gulping about 8k

datola:
Hmmm... Its supposed to force down demand on big engine cars (especially) and a such price fall.

However, this is Nigeria and most times issues like this usually defy any economic reasons.

Let's watch and see.

Demand for Ostentatious goods. I think the demand curve may increase as the rich may want to buy more vehicles as show off.

oluwatomiwa:
Especially the V6 and V8 SUVs

I sensed that.i quickly put mine up for sale today .I will wait another 2/3 months and pick another car that will be less fuel consuming

fineboynl:
Not just only car. If this new price will stand. It will Bleep this tinubu government.

Tinubu government doesn't need infrastructure. All the infrastructure buhari borrowed money was wasted at the detriment of the economy.

What tinubu need is rearrange the economy.

Because with what I am seeing it's about to get tough.

No infrastructure built is wasted, they are all needed.

You can't be talking about rearranging the economy and turn around to say infrastructure provided aren't needed.

Economy and infrastructure goes hand in hand.

It is only if custom duty on imported cars crash

zeenaman:
Personal opinion:

The relationship between cars and Petrol is complementary in nature. Complementary in the sense that, one is needed to augment the other, just like garri and kulikuli.

Going by basic economics principle, there is an inverse price relationship between complementary goods i.e an increase in the price of one results in decrease in the demand for the other. With this, it is conceivable that with increase in the price of petroleum, there will be less demand for cars, hence result in price crash occasioned by excess supply over demand.

Also, from the angle of the Federal government, the rich benefit more from the subsidy. People with ten cars will now find it unfunny fueling the convoy, and this may result in selling off some of the vehicles. This should further increase the supply of cars and drive down the price.

Let's talk about this, do you see the price of cars crashing? Let's leave out the Nigerian factor, corruption and base our argument on fact.

It might be just like the energy (oil) crisis in the 70s. There might be stronger demand for smaller, more efficient vehicles (4-cylinder vehicles). Bigger vehicles will remain a status symbol, in fact, owning a car is fast becoming a form of "status signaling". Anyone with 10 cars is either a rich person or a politician, I don't think either will feel the effect- they already spend more on less important things.

Allvendor:
No traffic in Lagos since this thing don start

I swear down

zeenaman:
Personal opinion:

The relationship between cars and Petrol is complementary in nature. Complementary in the sense that, one is needed to augment the other, just like garri and kulikuli.

Going by basic economics principle, there is an inverse price relationship between complementary goods i.e an increase in the price of one results in decrease in the demand for the other. With this, it is conceivable that with increase in the price of petroleum, there will be less demand for cars, hence result in price crash occasioned by excess supply over demand.

Also, from the angle of the Federal government, the rich benefit more from the subsidy. People with ten cars will now find it unfunny fueling the convoy, and this may result in selling off some of the vehicles. This should further increase the supply of cars and drive down the price.

Let's talk about this, do you see the price of cars crashing? Let's leave out the Nigerian factor, corruption and base our argument on fact.

Personal opinion: fu..ck off!

zeenaman:
Personal opinion:

The relationship between cars and Petrol is complementary in nature. Complementary in the sense that, one is needed to augment the other, just like garri and kulikuli.

Going by basic economics principle, there is an inverse price relationship between complementary goods i.e an increase in the price of one results in decrease in the demand for the other. With this, it is conceivable that with increase in the price of petroleum, there will be less demand for cars, hence result in price crash occasioned by excess supply over demand.

Also, from the angle of the Federal government, the rich benefit more from the subsidy. People with ten cars will now find it unfunny fueling the convoy, and this may result in selling off some of the vehicles. This should further increase the supply of cars and drive down the price.

Let's talk about this, do you see the price of cars crashing? Let's leave out the Nigerian factor, corruption and base our argument on fact.

Just dey play, who fit spend millions buy car na fuel e nor go fit buy?

fineboynl:
Not just only car. If this new price will stand. It will Bleep this tinubu government.

Tinubu government doesn't need infrastructure. All the infrastructure buhari borrowed money was wasted at the detriment of the economy.

What tinubu need is rearrange the economy.

Because with what I am seeing it's about to get tough.

Oga philosopher, why come here and display utmost ignorance?

You aid someone wasted money and in the same breathe you say we do not need infrastructure.

Ahhhhh, what is your level of education?

You said Tinubu should rearrange the economy, re-arrange as how?

What did you score in JAMB

zeenaman:
Personal opinion:

The relationship between cars and Petrol is complementary in nature. Complementary in the sense that, one is needed to augment the other, just like garri and kulikuli.

Going by basic economics principle, there is an inverse price relationship between complementary goods i.e an increase in the price of one results in decrease in the demand for the other. With this, it is conceivable that with increase in the price of petroleum, there will be less demand for cars, hence result in price crash occasioned by excess supply over demand.

Also, from the angle of the Federal government, the rich benefit more from the subsidy. People with ten cars will now find it unfunny fueling the convoy, and this may result in selling off some of the vehicles. This should further increase the supply of cars and drive down the price.

Let's talk about this, do you see the price of cars crashing? Let's leave out the Nigerian factor, corruption and base our argument on fact.

Let's leave out the Nigerian factor? But that's the most important bit which controls and distorts everything else. In Nigeria, no law of economics works; the only prevailing law in Nigeria is the Nigerian factor! .. In otherwords, no price is coming down!

Tonnierichy:
Ibadan drivers deserve some accolades. They've not hiked their fares too much. I wonder how they cope those ones.

I believe it's because of the train. It's just 3,600 to Ibadan from Lagos with train

Didi2d:


I believe it's because of the train. It's just 3,600 to Ibadan from Lagos with train

I'm talking within Ibadan

The price will zooom....zooom.......zoooooom!!!!!!

fineboynl:
Not just only car. If this new price will stand. It will Bleep this tinubu government.

Tinubu government doesn't need infrastructure. All the infrastructure buhari borrowed money was wasted at the detriment of the economy.

What tinubu need is rearrange the economy.

Because with what I am seeing it's about to get tough.

How old are you?

I can't wait to buy moi dream car

I disagree with you on garri and kulikuli...

U can continue now

Tonnierichy:
Ibadan drivers deserve some accolades. They've not hiked their fares too much. I wonder how they cope those ones.

That is d best state to ever live in Nigeria joke apart. I miss the state sha. Developed nd low cost of living

Tonnierichy:

I'm talking within Ibadan

Ok, maybe they are not as greedy as Lagos driver

I have a Nissan Armada for sale at The moment 06 model..

Price of imported v6 - v8 SUVs may not fall but definitely their demand will plummet.