Procashtips:


What kind of lame excuse is this?

There are no fraudulent citizens elsewhere?

Which of the government officials you're defending is patriotic?

Did any of them take a pay cut?

Did any of them suspend their pay when Nigerians were groaning and hungry?

Didn't they increase their salaries in the process?

Didn't they buy new vehicles in the process?

You're defending the indefensible and you're doing poorly at it .

You see, that's the problem with many of you, you don't know how to separate issues. Speaking against the masses who lack sense of patriotism based on your question automatically means I was defending the goverment officials. May be you would like to absolve the ordinary citizens from any wrong doings or manipulation

Father4all:
not like that oo. You forgot they too will pay transportation to the market to buy the goods, and also be for transportation to convey it back home

I equally forgot that they were spending on transportation before the price hike

Agbadorian:


Thank God you know that they are poor , next time , try and be greatful

They're poor of course, rich people don't live in villages or na rich people dey live for your village? . But una want use your substandard project to drain them of their scarce resources.

NOA has been dead for a long time now

abc115:

Stop speculation...it is #1000...no body will buy it from you, if it more than #1000....go try it with black market

Black market is even cheaper than official market most times these days

SULBELL:


It very simple sir. Let me explain as a lay man too.
What you did at bolded is called speculations which many other Nigerian are doing
For example assuming you bought $1 @N1600 then, you will be eager to sell it when you see someone who is willing to buy from you @ N1650, thereby you made an abritage gain of N50 on the volume of $ you bought. This looks very easy right, its like free money, and you don not even have to lift a finger, you just need to punch some keys on your phone
Just as you are involve are thousand others too involved, thus the value of the Naira depreciates further. Note that this is profitable for you speculating with the Naira, but it is hurting the nation and millions of Nigerians, A clear example is the skyroketting cost of foodstuffs and electronics, which naturally could have only been marginally affected by the removal of subsidy.

On the flip side, the CBN has cracked down on aiders of such speculations, now there is a bit of sanity, and the Naira is gradually and consistently fighting back, Here what happens is they make the black market rate cheaper so those who hoard $ now will have no choice than to dispose it at a loss. Because I can not see aboki who is ready to sell $ for me @ 1,075, and you expect me to come to you and buy for N1650 because you bought yours for N1600 and we are friends

In simple englis, its the survival of the fittest, while speculators are fighting to make gains from the Naira, the regulators too are fighting to strengteen it, so brother, the fear of uncertainty will make many dispose off the $ they keep, this will further bring down the value against the Naira, thus the reason why the Naira is appretiating.

The decision is yours bro, you can sell it off now and count your loss
or with for a miracle that it will somehow magically go toward the 2k mark before ending of May as many have speculated

Thank you for the enlightenment. Keep schooling them because many of them don’t even know how they are contributing to the decline of naira value and hyper inflation

Cindypresh:


How has your economy faired since 2015 Mr 30k stipend??

If there aren't bold women in your generation, there're plenty of them everywhere else.

You don't appear to anyone on this forum like a woman. Who and what are you hiding from?

advanceDNA:


That's means u don't understand ur colleague

Ur own aim is to convert back to naira to have a feel of plenty naira...... but the conversion technically makes only little difference because the naira u want to convert to has a very low purchasing power now.. e.g 2.7M tokunbo now goes for 8.5-9M..

But if u can understand ur colleague....T.M shirt is still 3 for 135$ since last year....if u dont gerrit, fogerrit....

What many of them don't know is that if you convert your naira to dollars. For it to make sense, you have to spend it in dollars anytime you are ready to spend it.

dawnomike:
It is a mistake to have held on to your dollar this long. You should have offloaded it a long time ago as you noticed the appreciation of Naira over time.

Now, you are merely playing a game of chance and hopeful speculation.

He got the dollars when when naira was losing value just like many others . The same mistakes many Nigerians made when Nigerian stocks values were skyrocketing many years ago

helinues:
When you are matching your exporting rate with importing rate, your local currency should gain strength.

It's all about which one is demanded most at the moment

Other factors are also involved

And when the institutions are taking their core jobs properly (CBN, EFCC, SEC, etc), their would be little to no chance for unscrupulous elements (dem crypto manipulators) to operate.

Mckandre:
I was told that prison time is not the same with the normal conventional time, every sentence is equivalent to half of the conventional time. Eg. A year sentence is 6months in correctional facility,that's to say that in next 3months bobrisky will be out.

May be five months but definitely not half of six months. I searched for the document on it online some years back to confirm and I found it.

racerve:


Is crypto a Nigerian invention? Why is it only the naira that it's affecting?

Because you Nigerians are fraudulent with no sense of patriotism, just self centered people everywhere.

Judithjovial:
care to elaborate how it is then? We learn everyday

It has been explained already, it is a complex scamming technique.
Simply say that the official and black markets is around N1100.
They would offer to buy dollars at N1200 but in a very large volume which no one can afford. Their advert would sit on the top for everyone to see and it would be there for a while. After a while, they would remove the advert and offer to sell dollar at N1150 but this time around, at different volumes that everyone could afford .
Thereby forcing the value of naira to drop because of the large number of people and transactions occurring there daily. They would repeat the same scam everyday until CBN found out and sent EFCC after them.
I hope it makes sense a little bit to you

mamaafrik:
can I get a METRIC 50kg from same price at that your place??

58k in Osogbo three days ago.

odimbannamdi:


You did not save 24k bro.

You are making a common mistake people do when they calculate their cost savings.

What is the opportunity cost of your time? The time you and your wife used in processing the cassava into garri could have been used for another activity that could make you more than that 24k. If you have a job that paid you 500k per month, for example, calculate how much your earning would be per hour and multiply it by the total hours you spent processing the garri to know how much the value of the time you spent processing the garri is.

Now talk about the water and other consumables you would use in the process as well.

I am not encouraging you to buy the garri from the retailer at an exorbitant price o...I just want you to do your calculations well and correctly determine whether you actually saving money

Lol. Like they were using that time to make additional 24k when they were not processing cassava to make garri? . Una just like all this phantom reasoning ways. Like people don't have extra time to do what they like except chasing money up and down. Life is too short to be allocating every available time you've got to chase money around.
Processing cassava and making garri is another time well spent on a productive activity. May be their kids even observed and learnt something valuable in the course of doing that

Father4all:
Go and open your own shop oga

SmartMen:


You are a mor00on who lacks basic economics knowledge. You are also selfish. So they should sell it to you at how much?

nA YOUR urine dem go use pay shop, take care of their kids lives and needs, pay house rent, and all?

The problem is that when people like you finally see how retailers have been ripping you off, you won't be able to come back here to narrate your experience. If una like, continue paying 2k for an item whose price is now around 1.2k.
Una no see the price of cement now? No be the same economic factors responsible for their prices increase?

mimijane:
Are u trying to tell me retailers should not make their gain?
If u are a business person,u will understand better.
How will a business person buy from a wholesale,for instance 1000 and still sell it 1000.wont the retailers add his or her gain,do u want to rip the person off business.
If u cannot afford want they sell ,then buy ur things u use in ur house in bulk from a wholesaler,simple.....

The sermon is: let's be considerate with how much profits we're making from the sales of each item.

cucumbar:
is making N2000 on a carton of indomie too much profit?

2k on cartoon of Indomie no be much? Make una fear God o. Do you know that Indomie is a fast moving consumer good? You don't need to make 2k as profit on a single cartoon. It's called rip off. 500 naira at most since you are selling lots of it on daily basis.

poseidon12:


Why don't you seize the opportunity and open a retail shop, undercut the "greedy retailers" by selling much lower and make a killing.

Boring and silly response.

ambale:


I can see you've never tried a business or trade all your life

How many retailers fit buy directly from manufacturers?

Una even do economics for school at all?

Na from direct manufacturers everyone dey buy from, I give up on your mumuness sha

Mr Economist wey study economy for school, did you care to look at the huge price difference? That's the crux of the matter, not the differences. Olodo Economist

DeGods007:


I'm not swimming on money but I'm not opening thread around instructing people to reduce the price of their goods.... That means to say money no be my problem

And people who are opening threads didn't have money but are begging you for money? Having money doesn't mean you shouldn't speak up when you ought to.

mrvitalis:
are they ripping u more than APC?

Another whataboutism, lol. You guys can't stay focused on topics without bringing diversion

kettykin:
I now see why some villages are chronically poor and helpless, someone donated a cow to your village, he has to come and feed it and milk it too, tufiakwa. Height of indolence

It was a project poorly implemented. Many Nigerians wouldn't be surprised to hear that it broke down already just after two weeks . You guys just like using wrong analogy. Just after two weeks and you want the poor villagers to start spending on repairing. Una no dey fear una God anymore?

shortgun:
was he supposed to maintain it for them too

Was it supposed to break down just after two weeks? Una no dey shame?

Oxb90:
I thought the man would even run as far as Australia. Na Kenya im see to run to?
Did he not ask questions?

I think it is not easy for him. He is likely to be a wanted in many countries

AqualinaXYZ:
Chasing wind

Mumu country that doesn’t export a dime is busy blaming crypto companies for their woos

Foreign reserve go soon finish and una go blame IMF

You are sad that one of you who tried to escape justice has been caught again and he's about to be brought back to face justice, I get it. I understand your wailing reason. Damn criminals!

Judithjovial:
Ol thought they said crypto na scam, how's it controlling the direction of a legal tender
Reach out to us for anything Solar Generator
skymaxy.com

And you still don't understand that this is part of why it is a scam?

“They don’t know anything; if we talk, they’ll say we are aboki BDC behind Nigeria’s problem. Over 40 years that BDC has been operating, we never manipulated the naira by adding 50 to N100 a day till P2P ojukokoro boys came with their lack of fear of God.”

Z Gen are nothing but destructive creatures. They don't want to work but want to be making like 50 million naira a day as profit if possible. And they don't care if the whole economy collapse in the course of doing that

NEF, Ohaneze and Afenifere are all paper weight and confusionists with personal agendas that are always different from that of the people and regions they claim they're speaking for. Political jobbers

MrProlific95:
North playing hide and seek with Tinubu. Double agent things. Let them just be careful sha. Tinubu is not like Jonathan. The Man is an old fox who allegedly consults water spirits.. .

. No be only water spirits, maami water join am too

ambale:
So all retailers buy from trade fair according to this mugu

You can as well start to dey go buy am and build a supermarket where you sell at trade fair prices in your locality and you can even expand to the entire nation

because you won't pay for the shop, you won't be needing light, you won't do maintenance, just buy and sell

If dem no buy from trade fair, dem no get where dem dey buy from? Or, no be from the manufacturers/companies all the goods come from? May be those selling at the trade fair steal am

bolademi:


Half bag of rice in my area at ajah today in one nonsense super market is 52k which is too expensive

When the highest price of a whole bag is 58k! Laughing