₦airaland Forum

ezewealth:
Dey play bro, I no need blow my trumpet, una go nonsense govt and in turn blame companies trying to survive this stupid government. Tinubu govt favored me most, ppl way deal on wholesale go relate, I no need to loud am more, because I know a lot of ppl are suffering in this govt. Make una bear the blunt of the nonsense una voted

Na u sabi who u dey blow trumpet for.

U shud have added and suffer thrice the dosage of unfriendliness

Beautifulday:
Corruption and cost of running the bank. Do you know how banks make money in Nigeria.

Corruption. Good. U solved the puzzle

Beautifulday:
So if you get customer, you suppose begin loose? It seems you don't understand the role of economy and policies on production, manufacturing, etc.

These things are no joke. Them no dey use common sense look am. You do anyhow, you don comot for business.

No be so econnet do that year.

Wetin make banks fold up for Nigeria?

U think say na because of cost?
How many managers dem sack that year cos of corruption?

Abeg na greed and wickedness.

nedekid:
What is not making sense in you opening the noodle business and bringing your skills of prudent financial management to enable you not increase prices while making small profits to help Nigerians? Is there anything bad in that? Since the owners of indomie have decided no to maintain old prices as they as so greedy, using excuses of increase operating cost of clearing raw materials, increased cost of diesel, currently at 1450 per liter which a 1000 kva Gen set will blow 180L per hour or ₦261,000 per hour or ₦6,264,000 daily, assuming they are running just 1 generator. Likely they many be using even a bigger genset. Cost of destribution, same diesel, staff salaries, maintainance, operating cost, taxes etc. They also selfishly claim the devaluation of the naira has affected their valuation, calculus, projections etc and hence must increase prices despite cries of Nigerians.
Once your production is running, we will buy only your cheap, Nigerian pocket friendly noodles. Indomie can go to hell.

Keep wallowing in their deceits.

U think all these companies pay their staff that do the main tasks big money abi?
Just the way u think bankers are paid huge salaries by the owners who are billionaires.


I just knew many if u justifying the increase believe one of the factors is cos they have to pay staff.... Forgetting that it's more or less computerised and mechanized.

Even banks in Nigeria that use humans, how much do they pay salaries of staff? Yet they remove all manners of charges from our accounts in the guise of keeping up as if we don't know it's the greedy shareholders eating where they shud not eat.

What led to the death of banks we once had? Was it not financial greed? Were some of the managers not arrested?

So if price of diesel increases, u want to tell me the profits they make isn't enough to cmore than cancel it out?

It's like ur comparing the indomie brand or company to just any other company.

They are not ur regular company cos of their massive sales. Let that sink first.


Name 10 products in Nigeria that are as popular as them.



Keep beliving these people and they will keep using the same excuses.

Mayflowa:
You are right my friend. Organized company like indomie cannot follow price trends like this. They ought to be the cushion for the society at a time like this so that everyone will turn to do. No patriotism, no loyalty, no ethical mindset, no social responsibility to the community that harbour them. What was their salary inclement like? FG needs to summon them and speak sense into them while holding the cane. FG can waive tax for them during this time. Maybe they have not been paying taxes even. If indomie manufacturers fail to control price, then local food sellers will continue to suffocate consumers with neck-breaking price.

Government must try to crash the price of one foodstuffs like rice and everything else will crash in prices. It's a domino effects! This is the time government needs to allow importation of rice. Only one food import will not crash the economy.

Thank u O. Many people are dragging me and justifying their price increase as if the owners of indomie are a small lot or as if they are new.

Am trying to let them reason that it's most likely the greedy shareholders that have no regard for the masses that's increasing the price so as to keep getting richer. In fact if they had real competition they won't be trying this nonsense. The other brands like minimie are not doing as good as them and dangote noodle went out cos people were not patronizing it( I think his noodles were not so good like that).

And it's not like indomie we eat now is the quality that came out the first year o. The quality has dropped so much. If u taste those Japanese or Chinese noodles it will remind u of how indomie used to be when it came out. Great taste back then.

So that shows u how the owners have been ripping us off not quality wise and in the price hikes

[quote author=ezewealth post=128617548][/quote]This shows ur a greedy person. The type to have a business go down the drain after just a few years.

cjudy:
You’re only talking out of sentiment. You’re not a business man.
You pay staffs right? When you’re making profit of 100k monthly and all of a sudden commodity rises up, if you don’t increase your price, then you’re reducing the quality and quantity of your commodity to enable your company stay alive. This is not the matter of old stock.
The excess of a business is to make profit. If I’m not making profit then I should close down my company. Fuel from 180 to 750 and you expect me not to increase my price? Diesel or Gas Nkor? Electricity tariff Nkor?

Don’t judge what you don’t know. The government have killed this companies

Oh so u believe these companies pay staff well?

And we r not talking about 100k profit per month.

How much do bankers earn? How much do the tellers earn?


Now tell me how much do the branch managers earn and the CEOs?


These prices are made up.


I remember vividly when the petroleum people decided to reduce the price of aviation fuel ( but refused to tell the government how much they spend on a particular part of the refining or something. But they were able to cut down the price just like that!)


These people in big chain businesses know what they are doing.

PheelzAlmighty:
Strange things are happening...

Stranger Things have happened.




https://www.youtube.com/watch?v=GWaQTpv-R-c&pp=ygUqc3RyYW5nZXIgdGhpbmdzIGhhdmUgaGFwcGVuZWQgZm9vIGZpZ2h0ZXJz

DaTruths:
I get your point.

The point I'm making is that its not out of line for them to increase their price to match the inflation.
Why did federal Govt increase import duty fee? Meanwhile Federal govt caused the inflation by floating the naira?

So if Fed govt that even caused it increased their duty price, how much more indomie that is a private company?

But they have increased it like 4 times already na.


Ok let's start like this: indomie has been around for at least 20 years in Nigeria.

Like someone said perhaps, it's only Coca-Cola that outsells indomie.

U see all this talk about increase in price of production is acceptable if the business is new or if it has a low patronage or customer base.

Indomie is everywhere. They have been making billions.

The problem is the owners, the shareholders etc. The people at the top.

It's a black man thing. If they were making 10 naira per share or something, they will never want to take 6 naira per share profit. The rich think about themselves alone.


They know nigerians will still buy indomie cos nigerians believe everytime cost of production goes up, prices must go up too.

Was it not recently that news broke out that Nigeria lost 17 trillion naira In 5 years to tax Hollidays and tax waivers? Who do u think is enjoying the tax waivers? U and I? No na.

Now let me ask u: if u had a chicken suya joint in ur state and u had a customer base of 300 buying at least 500 chicken suya at ur shop everyday and u were making gains of about 150k everyday. Suddenly proce of chicken goes up, price of coal, salt, etc goes up and ur daily profit goes down to let's say, 100k a day.

Will u increase the price or continue , knowing fully well that ur even lucky to have su h a large amount of customer base?

Assuming u decide to increase it, wid u do so many times? ( cos this hungry man pack used to be 150 naira I believe)

There is wisdom in business and there is also wickedness and greed in business.

That's why u see our banks always deducting money in form of stamp duty etc..... And who are the reasons for this?


The insatiable CEOs, managers, shareholders who want to always maintain maximum profit.


I rest my case.

cjudy:
Give me reasons why Indomie won’t increase their price. How much is liter of fuel, gas Nkor, materials for production Nkor. Transportation to different location Nkor? Don’t judge blindly next time

.

Ok let's start like this: indomie has been around for at least 20 years in Nigeria.

Like someone said perhaps, it's only Coca-Cola that outsells indomie.

U see all this talk about increase in price of production is acceptable if the business is new or if it has a low patronage or customer base.

Indomie is everywhere. They have been making billions.

The problem is the owners, the shareholders etc. The people at the top.

It's a black man thing. If they were making 10 naira per share or something, they will never want to take 6 naira per share profit. The rich think about themselves alone.


They know nigerians will still buy indomie cos nigerians believe everytime cost of production goes up, prices must go up too.

Was it not recently that news broke out that Nigeria lost 17 trillion naira In 5 years to tax Hollidays and tax waivers?

Now let me ask u: if u had a chicken suya joint in ur state and u had a customer base of 300 buying at least 500 chicken suya at ur shop everyday and u were making gains of about 150k everyday. Suddenly proce of chicken goes up, price of coal, salt, etc goes up and ur daily profit goes down to let's say, 100k a day.

Will u increase the price or continue , knowing fully well that ur even lucky to have su h a large amount of customer base?

Assuming u decide to increase it, wid u do so many times? ( cos this hungry man pack used to be 150 naira I believe)

There is wisdom in business and there is also wickedness and greed in business.

That's why u see our banks always deducting money in form of stamp duty etc..... And who are the reasons for this?


The insatiable CEOs, managers, shareholders who want to always maintain maximum profit.


I rest my case.

JulianBond007:
I was discussing this with my sister today. It's a shame government cannot regulate price of foodstuffs.
Can't we just boycott eating noodles?

Thank u O. The way people dey drag me for this thread. I just want up to see more dragging.

They don't know that there are people benefiting frm this indomie thing in form of shares. And these people who are rich always want their shares to increase.
Any drop in shares and they find a way to balance things by hiking prices.


If nigerians left Indomie for let's say, minimie noodles,(someone said it's cheaper) perhaps indomie will behave.

Edoziesmart:
I can't remembered which year I ate indomie last. That's should be 2022 in one Mallam place in Bayelsa State.

But you see rice I just finished eating it few hours ago
Rice sell more than indomie because every home eat rice on weekly basis, both the rich, average and poor people but you won't say the same when it comes to indomie.

Rich or poor people, which one plenty pass for naija?

How many students fit afford to dey chop rice now?
Take note that indomie can be eaten on its own.

For rice u need plenty condiments

nedekid:
Nice one, please open a noodle factory and start selling at cheaper price since you understand economics of scale. You will be doing Nigerians a whole lot by taking market share out of indomie and it's greedy managers and owners. Those evil people are reaping Nigerians. We will buy only yours to drive them out if the market.

Ur not making sense. The owners of indomie are billionaires and millionaires. They are a brand. They sell millions of the noodles. They make plenty gains.

Will they the shareholders die if they make less gain?


I have a chain business I run. I don't increase my prices as long as I make small profits despite the economic situation.

Villa12:
people consume rice more than indomie

I doubt o

Love800:
Thanks for telling me the raw truth about what i need to know.
Thanks for exposing me to realities of things.
I thank God i met u.
Who would have told me all this things? Thanks once again.

I want to summarize you in one word or sentence. "You are the best".

Ur welcome sir. Thanks alot too.
Feel free to ask more questions and wish all the very best in ur businesses.

Slimplush:
It is obvious your reasoning get as e be.. So they should be selling their own product cheaper because it's locally made, while buying other things aside their own costly abii? Making small money to buy costly things sheey?.... Or they are not spending money for production even if they source their raw material locally??

Ur interpretation of my comment get as e be.


So because u dey chop 70 naira profit before, tan suddenly price if raw materials increase, u come begin chop 50 naira profit... That one mean say make u hike the price of ur products?

Take note say the whole country dey buy ur products o.


Na una dey allow people dey use all these flimsy excuse as if them be small scale business or one small poultry farm.

NFBI:
see tech

Why did i come from this shîthole

Because u use pit latrine which is a shithole

Elsueno:
In d north....very very plenty, infact, u have to specifically ask for Indomie noodles if u want them, d price dey different

Am in Abuja. Am yet to see. Even in benin, I never saw. In enugu I never saw. In akwa ibom, I never saw.

Cunninglove:
Wetin dey do this Opeh sef.

Indomie this indomie that.

Abeg go rest jare.

No be me be the OP


We must fight for indomitable Indomie

DaTruths:
You don't know much about economy.

The price of Dollar to naira controls over 90 percent of market price since we import almost everything, even food.

If indomie don't increase their price, how would they be able to increase their workers salary as to be able to cope with inflation?


So if you are a business man, and almos everything you buy has doubled in price, won't you also double the price of your own product as to catch up?

Who wants to be the sacrificial lamb and bear the brunt alone?

Whatever business you do, you can do us a favor and slash the price, or slash your salary.

Don't be deceived. These people are getting tax cuts and all.

If am a business man and I have the whole country buying my products, NO I won't increase the prices of my products.


Am not greedy. If I was making 50 naira profits before and now I make 30 naira, I won't increase my prices because I have a huuuuuuuuuuuuge customer base that I know will still continue buying my product.

U get my point?

Elsueno:
Not as much as before, they currently get serious competition from much cheaper brands like minimie, cherie etc.....especially dat cherie noodles as its currently d cheapest.
The only undefeatable people making billions I COCA COLA....omoh people dey drink dat sugary stuff woh..

Question 1 for u: how many mishai( aboki) u see dey use minimie or cherie noodles?

Me av never seen one.

Beautifulday:
Dey play. Enter the business nah. Smallest Mimi is 150

She u see. U say make I enter the business.

I get large pool of customers?

Indomie ha made billions over decades and still do. Don't u get it?


They're like an OG I'm the business with no competition.


Compare them to the businesses folding up and Leavinv the country and u will notice that even those companies no get customers reach them

Beautifulday:
You are very funny. You don't know the cost of production, logistics, etc has increased.

Na wish for you ooh

Oga leave that formula.

Indomie is not shoes.

Whatever Increase in price of production is covered by the sheer vast volume of the product sold. That's a no brainer.

If its Milo or bournvita Its a different thing.

This is Indomie. Ur indomie.


Its the greedy shareholders. Nothing else.

oluwaseyi0:
Price won't come down simply because you stop buying

price of production won't drop simply because you stopped buying

what will happen is that they will downsize and produce only the quantity that will make them at least break even

When they remember what they can lose it will come down.

Make we try am see na. Leave textbooks.


Make nobody buy indomie.
They can leave, another will enter.
But they won't leave. They will bring down price.

That's when u will know they are thieves.


U will be shocked to learn that these manufacturers have been enjoying tax cuts and Hollidays.

Ishilove:
Thankfully, I have freed myself from their slavery so they can continue with their rubbish

Lol u sure?

RepoMan007:
Ajebo necessity you mean. That's one tuber of yam.

So u go just boil yam begin chop like that?

Where u see tuber of yam for 800naira unless u dey place like benue?

People no get time for long thing... Indomie things sharpaly

Cunninglove:
Keep deceiving yourself.

You don see anyone dey import indomie for Nigeria?

Keep living in ur dreams.
Go market and check out how many lower and middle class fit buy bags of rice.

Love800:
My Goodness!
Tankz so much.
Tankz for telling me the realities of things.

But what about cowmeat suya, u have anything to say concerning it?

Yes it goes very well with chicken suya.

Those popular joints I mentioned so cow suya too. In fact that one be like juju. E plenty like say to tomorrow no dey. But they make it cheap. 200 naira for the small stick and 500 naira for the big stick.


It sells very very well too. And many people will even buy both cow and chicken suya together.

Strange🤔... Am in the medical profession but answering culinary business questions like this. Maybe cos av been doing barbecue and other culinary things ever since I was in JSS 1.


For the cow suya, the stick ones are better I terms of presentation. And allows for fair pricing .

Those ones they cut frm portions can be tricky cos u may sell more or less than the price.

Just make sure ur pepper/spices combo is top taste cos that's where the secret is and not the meat( eve tho, ofcos the meat has to be fresh too and not spoilt meat like some dubious people sell).

Jeje247:
we have a customer protection council. I'm sure those once are collecting bribes to ignore such

Am sure too

Cunninglove:
Oga dey calm down.

People eat RICE more than indomie by 100 percent margin.

No! U need to calm down.
Which people chop rice pass Indomie?
How many students dey buy rice go school?

No let mamaputs deceive u o

Cunninglove:
Pe

What?

U don't eat Indomie?

Talk!!!