Ofunaofu:
I guess that should be consumption tax

Yes, it's consumption tax.
Don't know why states are charging it when they are collecting vat already.
Most states have it at 5%

Goshiii:

Oya school us on how the market operates na.

Came late to the party. Food don finish
Let's face Wednesday trending news, good morning to you.

sweetgala:


I can't speak of poultry business because there are a great many cowboys there but I know for a fact that cement factories and Beverage companies honour their agreements which has been placed in an invoice. What is in the invoice is what is paid they don't make an attempt to extract more funds from the receiver once the invoice/contract has been drawn up. If there is any need for change they would notify the consumer and it would only go into effect on the next shipment not on the shipment that has already been invoiced.

Some of use have done business with Nigerian breweries etc you can't be telling silly likes on line

You see why you need to listen to other news outside politics, a news that was online just about 2wks ago is what you can't even verify.
A quick Google check would have given you the evidence

SUPERPACK:
Using same logic, what if when the buyer after paying the 1.6 million for the goods at 9am, he returns to pick it by 6pm and the market price have fallen to 1.2 million. Will the seller give him back his 400k and still give him the goods?

That's why business will always have an edge over the customer except we want to pretend about it.
Let's assume he bought it on credit and left with the goods with a promise to pay by month end, at month end, the goods is now 3m from 1.5m, will the seller collect extra 1.5m considering that he needs to restock and he is just getting a consideration (sum) that is now less than the cost of the goods

sweetgala:


If I have received an invoice my goods would arrive as agreed. No credible business would ever dare even suggest such a thing.

No credible business like?
Cement industry do same, Poultry, Beverages (Alcoholic and Nonalcoholic), eg, recent price increase by Nigerian Brewery Plc, you can google that memo they sent to their distributors online (it's a public document), etc.
We are only emotional because of the economic crisis the nation is facing, business has little to do with morals and more of self centeredness, you protect your interest first before that of customer, forget the doctrine "customer is king", it's just ego massage, every businesses protect itself first before any customer

sweetgala:


You're talking about market when the items in contention have been paid for and the ownership as a consequence has been transferred to me. You're thereby obstructing me from taking control of my property.

All these illiterate container boys sha, after you serve for 10 years this nah wetin you learn come.

Move closer come collect knock for head

Book birds from Chi or feeds from Top feed make Dem msg you sey price don change, then you should tell them you can't pay new price

sweetgala:


Contracts are renegotiated on the agreement of both parties and one party can not compel another into a contract renegotiation under force or duress when the existing one has not lapsed or been broken by either party.

The buyer here if he has made full payment under the "verbal" understanding that the price has been negotiated and accepted can not be forced into a renegotiation. He for all intents and purposes is the owner of the doors even if an invoice has not been issued. The invoice would only strengthen his case as an undeniable evidence. The seller would then have to prove that he did issue the invoice under duress

If there is proven evidence on why a contract can't be fulfilled, a party has a right to request for renegotiating the contract terms, the funniest part is if the case should get to court, court will only grant a refund with an interest that won't harm the sellers business so he doesn't close shop, which ultimately leads to unemployment.
The court will also rule that each individual should bear the cost of their case

sweetgala:


I can't facilitate a prison when I'm not the judge but I can help the DPO see you into a jail cell pending when the magistrates grants you bail

Alaye, keep quiet joor, some of you actually think it's everyone you can bully with do you know who I am title, come try that nonsense with me, the dpo himself go hang you dry after the case choke him.
Don't learn how a market operates then jump into it maybe you won't get your fingers burnt

sweetgala:


It's because that buyer is ignorant, you try that with me you'll be seeing the four walls of a jail

No be only jail, na prison, una just love to dey throw words around anyhow

sweetgala:


His markup should be on the restocked items not the ones he himself bought at a lower price.

Your argument is daft at best, imagine you receive a contract to supply 20 bags of feed and you agree the price and you receive the funds and invoice the transaction, only to then tell the buyer the next day when the goods are to be collected that the price has gone up since yesterday and so he should add money to collect the goods you are infact commuting a crime of theft.

Seems you are not aware that contract are sometimes renegotiated, one of the reasons for abandoned project litters around is because some are going through renegotiation phase with the govt due to inflation or forex fluctuations

Public announcement at the top, confidential document at bottom, some public officials no just sabi some basic stuffs

Omoapena:


I have experienced a similar case where I went to get mattress, I was attended to by sales rep who doesn't know the actual price of every mattress in the store, after giving me a price which I already paid but still around trying to move the mattress, the owner came and asked how much the sales rep sold it to me, the owner later realized the sales rep sold it 10k cheaper than the normal price, I particularly know the mattress is cheaper for that price too but I felt, I was lucky but immediately the owner came and gave the actual price, i just advised the owner and paid the 10k balance...


I know in that case, if I don't pay the 10k balance, the sales rep will be held responsible for the shortage....

To run business is not easy in Nigeria...

Me I don't really know where the problem is from.
I sometimes want to buy an item and discover underpricing, I will call the attention of the seller to it, in some cases, I drop my number for a follow up, so I can pay the difference. While at other times, I just want to try game the seller so I can get the best deal.

Donchieli:
If I conduct business with your sales reps, the person can claim ignorance, so you can say that's not the price you gave once you are updated but when you as the entity conducts a business with a buyer there is no excuse.

if the buyer is not willing to add or consider and business has already been concluded, then the buyer is not to be denied

Even the formal sector do it. They changed price despite payment and receipt issued.
If ex-factory price of cement should increase, they will tell you that the invoice with you is only valid for so so period or so so number of orders, anything beyond that, you pay the difference or you get a refund.
NB increased price of drinks recently, they placed a limit on orders that will be valid under the old pricing, every other orders will be on the new prices.
This is in a system where distributors have paid millions in advance and the organization has spent for its business

Omoapena:


This isn't about being uneducated, think from the seller's perspective as well, imagine getting the goods for 10k with hope he will sell at 12k and gain 2k but after selling at 12k while the goods is still in your custody and you realize the goods is being sold for 15k from the main source, will you go ahead and give it out at 12k when you know you won't be able to restock with 12k and you will still run on a loss of 3k..


Will you give out the goods, ask yourself that question and be honest with yourself...

Only a trader will understand the seller's predicament.
Sold 10pcs, then restock 7pcs. I honestly feel for him

dominique:


This occured to me but if this was the case, the buyer would have gone with his vehicle to transport the goods immediately before the seller catches on.

Likely the case, he lost the deal because he wasn't prepared enough.
Normally, with the quantity he bought, you would have known he wasn't prepared for such price to have left for 2hrs after payment before coming back to pick it.
He probably thought he would have an edge since payment has been made.
I do tell my customers, due to the nature of my business (poultry), any fund you paid is just for safe keeping till the day you are picking up your stock, don't tell me a bag was 6k this morning, so you are paying 6k this afternoon, I won't use my capital to start business, and still be using borrowings to run it when I'm making sales but no profit

Donchieli:
The seller is the only thief here

Is the buyer the reason he is ignorant of current prices?

Besides it is called market survey, we all look forward to getting goods at the best price convenient to us

And if the shop sells lesser than others and I suppose to go back to who sells at a higher price when they definitely offer the same quality

I have a buyer, anytime I see him, I know there is hike in price, even if he already pays and I'm not aware, immediately I know he is the one, I will tell my salesgirl to tell him to pay the new price or he gets his fund back.
The seller's profit might just be 100k from that 400k, so he should use his personal fund or borrowing to fill the shortage.
In business, no one comes back to thank you for selling it cheap

tonicyril:
Hmmm

Nigerians are the enemies of themselves, but we prefer to blame the government alone...let us continue jare

One or both of Dem be thief.
Some buyers will go about asking price finding out if there is a seller still ignorant of the current price, when they found one, they won't just buy little, they will mop up the stock because they found it cheaper, if seller should get the current price while he is still having control over the goods, he will use that to hold the buyer to ransom
Those saying he has the stock on ground before, if he is selling for 100k and it's now 120k, where will he get the additional 20k from, not to talk of his markup so he can get profit.
Late last year to early this year, price of poultry feeds was just flying anyhow, morning price is different from evening price, I was selling a bag with 200 margin, it got to a point, I was borrowing to restock, I had to increase my margin to 600, that way I still get my 200 on each bag, why the 400 cater for the new price as it increases by 300 everytime

Asawoboy:
u won follow am

Una just get bad mouth.
RIP Mr Ibu. Aki n PawPaw go miss you more

Dem dey fight over kids when dey supposed dey fight for queue to conduct STI test and see a Dr.
The lady sef, this case no be cheating, it seems they all know wetin the lady dey do, I no know if I should call am business or olosho

anonymous1759:


I’ve not heard this before, we’re too dubious as a people that’s why we produce dubious leaders in all angles

It's just conspiracy theory, what he said is false

ibrocool:
As expected, the demand for BUA cement increases due to the reasonable price. But the sad reality is the retailers are busy re-bagging to Dangote cement and selling at high price. That is why it looks as if BUA cement does not exist in this country.

rebagging cement, nothing wey una conspiracy no dey come up with, you think sey na pre 2006?? Or na rice??
No one distributor rebags cement, the price difference at any point in time has never been more than 200 btw different products, who has time to transport from factory A to a location so you can rebag to another product then transfer to the final destination, no one has such time.
No financial benefit, no cost savings

Offpoint1:
They are. Once they heard price of dollar has increased, these folks will automatically increase the prices of items. I keep wondering if Naira is Nigeria currency or dollar.

The one I can't fathom till date is garri. No part of garri processing involves dollar, but the price keeps skyrocketing.

When I entered Lagos 2018, a paint rubber of garri was sold N400. How it becomes N2500 today I don't understand.

What drives price of garri is cassava.
The Nigerian commodity market is determined by FX which is dollars, so for the producers of garri to get cassava for their use, they need to rival the price of exporters.
I think govt need to address the issue of exporting raw materials and commodity, if we start exporting finished products majorly, so many traders won't hide under that nonsense of FX rate

BreconHills:


Has this guy heard of short, medium, and long-term strategies? Do you want the Government to adopt medium-term strategies while the ordinary people continue suffering? High interest rates will squeeze money supply which impacts demand push inflation. Cost-push (dollar component) inflation will also be addressed as wide money supply fuels irrational pricing of the USD.

The casualty will be growth but that is how economic policy works - there is always a trade-off. But what is the point of growth that benefits no one? Growth with death? - no o. Manufacturing can be addressed with target-specific concessional lending and grants. There is still a massive multi-billion one out there as we speak.

It is easy but dishonest to capitalize on ignorance.

I wonder his logic sincerely.
The problem everyone has been repeating is that there are too many naira chasing few items.
A reduction in interest rates means bank will give out more naira to the economy, while the interest of savings increase, thus, some dumping the naira idle in different forms, Fixed dep, savings account, TB, etc.
With the increase in interest rates, some people will take out the funds they've dumped for productive use, there by reducing the money in circulation

Una wan increase price again abi
Kontinu

350
Some farms sef no get up to that number of birds, you com get such number of guns.
The owner must be rearing guns too

Yak is high again
A play that will walk into any team out there for the past 5 to 7yrs isn't world class, kindly tell us what makes a world class

There is nothing wrong with charging phones in church.
The area might be having poor power supply, the church can dedicate charging area for people to get their gadgets charged.
What's the essence of a spiritual gathering that won't transform our spiritual being to physical manifestation.
Spirituality advocate love to oneself

Same people wey dey shout sey naira dey fall, na Dem still dey speculate, they are already talking about how to bypass the new ban, later Dem go come abuse everyone dey can.
Speculate from now till tomorrow, e go reach everyone. Those wey dey send fund to their children outside now sef dey cry, those wey dey send remittance to their people for home dey fear, last last, we all got served

VULCAN:
Leno Adesanya has been pulling scams as far back as 1988.

The guy must have oil on his head cos he has never been convicted, if I'm not mistaken

We just get professional con artist plenty for this country.

Is it edible
Na the only thing wey concern Nigerians be dat, every mallam with him kettle

24

Orelafintun:

You got it. How many Nigerians that are building houses nowadays. The demand is likely due to this recent concrete road construction policy of the Federal government.

It's just a policy
Even 3rd MB repair isn't using cement
Make Dem stop the lies.
All FG road projects with plan to use cement won't take 50trucks daily
A truck is 900bags.
They don't work 7days a week, cement plants works 24/7
Remember that cement concrete needs curing to move to another stage, so even if there is capacity, there is limitation as principle