₦airaland Forum

Fourwinds:
don't tell me d world of Economics taught u by evil ones....who has increased d workers salaries to meet up with d change in price.?

I repeat dat is d wickedness....Business men and women give a wide margin for their price increase....it is a known fact in Nigeria....just like increase in transportation last December when fuel price remain same

That's the ignorance right there.when the cost of importing brake pads and engine oil went up you xpect road traffic workers to keep a price mute ? Seriously . Is this not a classic example of rise in inflation ? .There is nowhere in the world where wages rise in direct proportion of increase in inflation . .

Fourwinds:
u try...dat is d wickedness I'm talking about....now who pays d student or worker more to purchase d difference since u are now selling old stock for new price...

consumers suffers abi.?

Nobody pays .in an ideal world everyone increases thier goods and services . If you did Economics in school you would ja e heard of a word called inflation . ??
If the retailer do not increase his price the next option is to close down . Don't forget demand and supply . Less supply means higher price .

Caseless:
when an Ibo woman told me dollar had increased thereby causing her to increase the price of ugu(vegetables) grown in her backyard was the day I gave up on us.

Ahaha and U x pet mama put not to.increase a plate of ofe Oweri when a mama kalu increase the price of Ugu which she buys and use in preparing that soup

Koolking:
Rogue is just apt.

An average Nigerian is also despicable. There are locally made items that have nothing to do with forex. An average Nigerian enjoys taking undue advantage and savouring the pains of fellow citizens. A day of reckoning will catch up with them soon.

You are being ignorant.I do t mean to be rude but you are.Name these so called local goods and let us see how forex don't affect them in one way or the other .

murmee:
True. I was at a branch of ECOBANK today and I saw when a staff brought down the exchange rate notice board. She adjusted the figures and hung the board back. The exchange rate for dollar is now N360 to a dollar!

Bro what's the point ? Plz go back there tomorrow and ask to buy 100 dollars come back and tell is what happened after then.

Fourwinds:
I'm telling u before d increase a lot of people had d old stocks but dey were happy to hear d rise in dollar to naira and sold it immediately at new price...what do u say to dat.? we know fuel has always been an example before now.....I repeat Nigerians are wicked

You are missing the point.I am also an Importer so I can tell you how it goes.check thus.
I have a student table I sell . As old stock.is cost N10k 4 dollar went 500 . Now I ha e to I crease it to N15k cos of I crease in forex even though it's Old stock
Here is why
If I don't sell at current price I wo t be able to replace same item with new stock . .of I sell at old price 10k who is going to make up the difference to replace same stock with new product ?
Least we 4get the 5K difference is not profit but capital.it's same 2k I will make I'm still making but it will take me longer to sell as economy is tough .

mathew2oa:
U will ave to wait for at least 2 mnths if by then the new value of naira is still the same because u won't expect a manufacturer who bought raw material at 500/1$ to sell at lost because the dollar is falling

Nahh 1 year bro

Fourwinds:
u are a big liar...u must be one of them.....

we all know this...before increase in petrol., what happen.? hoarding....them dey sell d old fuel for new price.


I will keep saying it...Nigerians are wicked simple

Why call him a.liar ?
If you buy cement from Dangote at 3000 and dollars come down are you going to reduce your price to 2500 ? ?or dale at current price amd sell off your old stock by new stock and sell at 2500 ?
We should try and understand issues before jumping into conclusion .

gonkin:
If it comes down to 250, flight tickets would cost less and jumia/konga will come back to life. Dating site fraudsters go start to cry

Ahahaha

LivingHuman:
http://www.cambellsblog.com/2017/03/car-dealer-denies-selling-any-vehicle.html

And that's is the end of the case !

FavoredGuy:
All these interventions, who taught/lent the govt the idea now or if they have the idea before, why did they wait so long before applying the strategy?
Anyway, we are moving forward. That's gr8. I am not a wailer

They are being mischief makers.they have enriched themselves friends and family . The sell by the backdoor to the BDC

scachy:
Agreed, but remember importers exchanged foreign currencies like dollar at 500 and above to import, so don't expect them to reduce the prizes immediately n suffer loss. We ll feel the changes after they must have sold their old goods n that's gonna take some time

That will B like next year

Banks should allow us use our ATM abroad to put the final nail on the coffin of the BDCs

bereiweris:
PHC dealers 1st to increase last to decrease

Howmuch now?

valarinz:
Been reading the comments and its super crazy bro, i believe nairaland now has an average age of users as 17yrs old, cos most comments coming from supposed adults is just outright embarassing. Car dealers aint supposed to make profit cos its car biz, but in whatever other line of biz, its ok to make profit, smh

A car dealer makes an investment worth millions with all the associated risk involved plus time wasted, and he's not supposed to make 100k profit so he won't be termed "greedy". But if a market woman who sells garri increases the price of her wares triple fold, she's not greedy, instead its buhari's fault.

Bro tbh I dont even know how importers of cars make money,I pulled out of that Biz8 years ago and never looked back, I sold my last car N1m a 2001 toyota camry,I only made N50K after 7 months can You imagine cos landing cost was N950K

ice4u999:
I want to ship solar panels in vehicles. Hopefully I don't run into issues

nah U wont.

jabolo:
Many people miss the point of this policy. There is the general acknowledgement that the country's borders are porous. It will take a long time to fix so you create an additional deterrence to potential car smugglers. You effectively 'spoil their market' because people will not now buy cars without establishing the import duties have been paid.

A comparison is you living in an estate with a fence around your own house, but also subscribing to a 'neighborhood watch' scheme. Any thief wuld think twice about scaling your fence to steal because there's the chance the OPC neighborhood watch might catch him, and lynch him.

The policy is also designed (unapologetically) to boost revenues since car importation is one of the most lucrative elements to collect duty on, and also easiest to enforce. The country will make money from retroactively collected duties, and future duties now being paid diligently. Someone said fake drugs and rice nko? Why leave Manchester United to pursue Sunderland upandan?

There may be teething problems and individual inconvenience we have to suffer for the greater good, but that's what nationhood is about.

It's a very good policy, IMO of course.

DO you agree with me that every car buyer(consumer) buy in good faith that all duties where paid by the importer??

ikp120:
Bro abeg whether Tokunbo or tear leather, except it was assembled in Nigeria, you MUST be given the custom papers of the ride by the dealer. Bro abeg check the papers next time to avoid stories that send goose pimples

There is nothing like that, Buy a new car no custom papers.Stop being Ignorant,Main dealers have licence of franchise.You guys wont seize to amaze us on NL

valarinz:
So, you're saying dealers are forbidden to make profit of 270k on cars below 1.5m? So it's for you to fix acceptable profit margin for someone else's biz abi

If you think dealers are so greedy and you will gladly take 50k profit on cars below 1.5m, stop complaining, enter the biz and push all those greedy dealers out of biz, Nigerians sef wahala too much, always calculating profit for others

You're not to blame, I used to reason this way till I became part of the industry, all people see is the gain, no one see the loss, it's ok for dealers for buy certain naija used cars and end up with a huge loss margin, but it's forbidden for them to make good profit on any other one

Bro its imperative to note here, most of our guys on here are either kids who still live with thier parents or Adults who are just starting thier lives or Adults who have never indulge in any sort of trade or deliberately dumb people I swear.I find it extremely strange why anyone in thier right minds will find making a profit of N270k on a N1m investment which can take up to 13 months to achieve.This beats me.

Jkvivi2020:
greedy dealers.someone offer me 2.4 million for a 2003 corolla. a car that was sold for 1.3 to 1.4millon. they want to much gain.awoof they run belle ooo.you are not suppose to rip off customers any how because of greed.

If he dont sell it to you at that rate how does he return to the market to buy a next o ne to sell?
This is a classic example of whom has no Certificate or WAEC accusing a medical doctor and an Engineer of taking thier JOBS.(S Africa)

Im realy hoping most of you here will try and import and sell cars then you will know that its such a silly market, you only get mega buck if you are dubious.
Can you all invest N1M for 5 months and earn just N50k?, if you cant then welcome to the world of the honest car importer.

How much is the front Bumper and both headlights?mine damaged due to a crash

rem44:
As shared by Ugo.......

'There is this road, we use to follow at the back of gwarinpa, once they locked galadima gate by 8pm,so I follow the road.
Next thing, some of those hoodlums around the area rushed out n bloc ked my path. While still arguing with them to let me drive through , the police men arrived, stating that they were the one that told them to block d road,
No wahala then, make I turn back begin go back, one of them wanted to enter my car, that I much follow them to station, they block the road, calling me armed robber, start dragging the car key with me, before l cld argue, one slapped me, while still arguing why he slapped me, others joined beating me with their gun but.
Even as I was still pleading with them, one even went as far as cocking him gun to shoot me, stating that I was an armed robber. All these person, I kept on advise was exactly is my crime to warrant these beatings.
They, finally dragged me into their hilux in the process, lost my wrist watch and one of them drove to my car to their gwarinpa Divisional police station in 3rd avenue, I was in the station until after 1am,be for they released me, but they took my car papers and l also discovered that the little money, I had in the car has also disappeared, they held on to my car, insistin that I should come back to the police station withbthe originals of d car papers today, with the customs papers by 2pm today'.


Source: http://www.trezzyhelm.com/2017/03/policemen-beat-man-in-abuja-for-arguing.html?m=1

Go there with two Army friends and original papers.list you lost and identify the police who took part in the beating there and then . They must pay your treatment bills.

cooldood:
The actual fact is there's nothing of such like surplus dollars in the Nigerian market. What you see happening is what we advised CBN to do-provide forex for the retail end of the market and the perception will improve- which is why people now think there's surplus. There's actually still not enough forex in the market to meet the demand, businesses and manufacturers still cannot have access to their dollar needs to meet different obligations. What the CBN is currently doing is to try and meet up with some backlogs of applications for forex way back 2015/2016.

I am privileged to have access to this information by the virtue of my position. Foreign investors are still waiting on the fence for an official devaluation to about 360# to a dollar.

You'd also notice our external reserves is fast depleting, no thanks to crude oil price tanking in the past few weeks.

We have also not resolved our energy issues with regards to the pricing, when we do, another round of crazy inflation will kick in.

It's not all doom n gloom though for 9ja, as high base effect means steady inflation in 2017, lets hope the price of crude oil stabilizes at 50 bucks per barrel, and Militants remain calm, otherwise, 2017 will hardly be different from 2016.

militants are now calm as thier contracts has been given back to them . But we defined to produce to export . The FG is not doing enough to encourage small amd medium scale producers to boost exports . Where are the tax brakes . Where are the Vat breaks

cooldood:
Wait for a few more years and you will understand what being an unproductive country means.
In 2014 December, $1 exchanged for barely 155.Within 3 years,its depreciated by over 100%. So don't be shocked if by this time in 2020, another 50-100% depreciation occur. Nigeria is a giant in consumption but a puppet when it comes to production.

Correct and pumping dollars is just a knee neck reaction . The dollars should have been generated by positive economic activity. Now no o e is asking of our external reserve . Do we know howmuch it's now worth ? .If the CBN amd banks wants us to believe in this policy let them allow us use our ATM cards abroad let's see if this suplus news will last 1 hr.

clemz85:
Them rich people are making money with suffering of the people, they won't be happy that this is happening,

Imagine individuals hoarding dollar.

Stop beefing rich people . Work hard and become rich . No one was born Rich .

pat077:
What we need now is massive investment in agriculture to reduce our food import and reduce the need of dollar for importation of tinz we can produce here.

FOOD is the least.we produce %50 of what we eat.the major waste of forex is from fuel . 2nd electronics third cars and spare parts . Fourth machines so telle how do we deal with this without proper government intervention .

OgaJonah:
Igbos WILL NOT LYKS DIS NEWS BECAUSE OF THAt BASTERD IN KUJE PRISON.

You are high on some cheap weed Igbos gain the most from last I check it's theses same Igbos who import everything imported in Nigeria from tooth pick to car parts . Now tell me who are the real winners here is it not the so called Igbos ? ?now give yourself a loud slappp

Guitarlife:
Pls assist me. My honda accord bullet will be 2 years in 2 months time.

I never changed a thing since I got the car.

I noticed for like a week now that the car which temperature guage never passes the middle portion now gets to 3/4 of the heat guage.

What can I do to address this.

I intend to take the car to a kazeem tomoro.

What can I look out for ? Please assist me @ gazzuzz et all.

FOllow the aadvice above, and also, are you short of coolant?

kingreign:
boss, I'm loyal.

ehe The reason Im laughing is cos scanners are being sold as low as N4k, U say homuch to scan again

haywire07:
Out of love for wailing , u refused to think like an intelligent Nigerian. Can you compare the territorial extension of boko harams in d otueke's rule to 2016 ? If there were no weapons and intelligence like u are asking, will you be able to sleep in your house by now?

Out of love as defined by you plz name weapons bought out of the said sum .

haywire07:
Whereas the Otuoke Landlord and Dasuki&co looters LTD swallowed $2.1 billion .
They deserve a space in a museum


For those that wants to be angry, I'm at Kuje in Abuja where boko harams traveled freely all the way from Maiduguri to bomb twice during the drunkards regime . U can comman beat me there

Check what was bought with the spent money