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Inflation, Why Do Traders Do These Things? - Business (2) - Nairaland

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Re: Inflation, Why Do Traders Do These Things? by Brownshoe: 12:56pm On Jan 27, 2022
Op you allow it, why not try elsewhere first, at list check like 3 shop,before concluding.

3 Likes

Re: Inflation, Why Do Traders Do These Things? by descarado: 12:57pm On Jan 27, 2022
It has nothing to do with govt.
Even in Abroad, you see the same situations.
In amazon, 5 sellers will sell the same thing diff prizes.
Left for you to do your market survey.
What you should have done before buying.

5 Likes

Re: Inflation, Why Do Traders Do These Things? by 4reala(m): 12:57pm On Jan 27, 2022
This are man made inflammation
Re: Inflation, Why Do Traders Do These Things? by Nobody: 12:58pm On Jan 27, 2022
pocohantas:
Everything is now inflated. Food, rent, transportation.

A lot has changed in the past one year and being among the living is now luxury in Nigeria.
it's a global thing cool

Re: Inflation, Why Do Traders Do These Things? by NaBanga: 12:58pm On Jan 27, 2022
I'm sorry to say that this is a global issue. It's not a Nigerian issue. I am in the US and the cooking oil I purchased last year is almost double this year. The building wood we purchase has gone up between 25 to 50% depending on where it is purchased. The only incentive the US has is the system in place that will help poor people, but regular middle class workers are having to cut back on everything. The coronavirus has dealt with everyone by slowing down shipping and increasing demand. As a result, prices went up in all sectors globally.

5 Likes 1 Share

Re: Inflation, Why Do Traders Do These Things? by Stevenson1(m): 12:59pm On Jan 27, 2022
Weathered:
Igbos corrupt the micro economic environment.

Yorubas corrupt the corporate and macro environment in Nigeria.


And what do Hausa corrupt? The health of Nigerians and it's environment?

What about SS, what do they corrupt?
The image and honor of Nigeria and it's environment??

1 Like

Re: Inflation, Why Do Traders Do These Things? by MJlee31(m): 12:59pm On Jan 27, 2022
I have been thinking about this for a very long time, everything increase in price in Nigeria everyday as a student of ECONOMICS it baffles me a lot that what can or may cause the persistent rise in prices of goods? But the truth is aside the economy factors some people just want to make profit unnecessarily by adding to the price. The only way this can stop is the government should put up an agency that will check the activities of these people, because they are making life tough.

3 Likes

Re: Inflation, Why Do Traders Do These Things? by femicyrus(m): 1:01pm On Jan 27, 2022
You are paying for staying at home when hoodlums were voting for your leaders after collecting 5k

I heard the price of bread and milk remains unchanged in US for 25 years.

Between an interval of 25 minutes, you can pay 10k extra for the same goods in Nigeria because of leadership problems

3 Likes

Re: Inflation, Why Do Traders Do These Things? by pak: 1:02pm On Jan 27, 2022
JoshTim:
This is where the government should come in and enforce price controls. There should caps. You quote your goods beyond a set price for a commodity, you won't even see buyer because every other seller sells within that limit.

Buhari implemented price controls as a military leader and it ruined the economy.
One of my colleague's Granddad was a victim, he was forced to sell his grains at below landing price, he finally closed his ware house and never recovered

Market forces particularly the forces of demand and supply control prices. Governments that tries to control prices end in tragedy, leading to hoarding, scarcity and black markets.

Government should focus on making it easier for suppliers to get to the market. The process should be faster and cheaper. A boost in supply will always push prices down

8 Likes 1 Share

Re: Inflation, Why Do Traders Do These Things? by Nobody: 1:03pm On Jan 27, 2022
Moneyboyz:
This has been going on for a while now and it's very annoying and criminal.

I went to the market to buy an ox standing fan, a friend of mine bought his 39,000 naira a few weeks ago but he didn't disclose the price cause I didn't ask.

I went to the market to get mine about a week ago and bought same fan for 44,000 naira.
I felt embarrassed and cheated and I'm sure I'm not the only one who has felt this way.

I'm very angry right now that whenever I go to the market to buy something and they start calling figures I ask them what is the price that even if I go elsewhere I will get it for that excat price.

This is a common trend among Igbo boys but now Yoruba and Hausa people have followed suit..

Right now I don't even know the price of fish and other food stuff cause they will first try to extort you by calling some big numbers, it's only through strict negotiation and perseverance that you will get something in the marketplace for the actual price that won't hurt both parties.

I think inflation in Nigeria today is what we made it and not what the government did, I can remember when pepsi and other soft drinks are being sold for 100 naira, some people started selling theirs 120 cause it's extra cold/frozen.

Before we know what's happening pepsi and others increased the prices of their drinks because they realised we are still buying even though it's being sold at enormous prices.

What is the government doing to control these prices? Hopefully someone would ask Mr president and the appropriate authorities on my behalf.

Re: Inflation, Why Do Traders Do These Things? by hmohammed(m): 1:05pm On Jan 27, 2022
Felimax:
Government agencies responsible for control no longer care.
Things like these are what you get when your president refers to a portion of Nigeria as a dot in the map.
A grain of sand can be very tiny but becomes so big when it enters the eye. Are you feeling me?

Idiot, who is discussing Igbo nonsense here. If you dont have the right response, then you keep mute
Re: Inflation, Why Do Traders Do These Things? by Stevenson1(m): 1:05pm On Jan 27, 2022
Moneyboyz:
This has been going on for a while now and it's very annoying and criminal.

I went to the market to buy an ox standing fan, a friend of mine bought his 39,000 naira a few weeks ago but he didn't disclose the price cause I didn't ask.

I went to the market to get mine about a week ago and bought same fan for 44,000 naira.
I felt embarrassed and cheated and I'm sure I'm not the only one who has felt this way.

I'm very angry right now that whenever I go to the market to buy something and they start calling figures I ask them what is the price that even if I go elsewhere I will get it for that excat price.

This is a common trend among Igbo boys but now Yoruba and Hausa people have followed suit..

Right now I don't even know the price of fish and other food stuff cause they will first try to extort you by calling some big numbers, it's only through strict negotiation and perseverance that you will get something in the marketplace for the actual price that won't hurt both parties.

I think inflation in Nigeria today is what we made it and not what the government did, I can remember when pepsi and other soft drinks are being sold for 100 naira, some people started selling theirs 120 cause it's extra cold/frozen.

Before we know what's happening pepsi and others increased the prices of their drinks because they realised we are still buying even though it's being sold at enormous prices.

What is the government doing to control these prices? Hopefully someone would ask Mr president and the appropriate authorities on my behalf.



You want a business man that experience rise and fall of dollar to give you an ox fan the same price it was when dollar hiked?? You must be dreaming.
You want an Igbo man to sell ox fan for you below cost price then he will go to your salon to use 1500 to cut hair, buy fuel 175, then pay his kids increment school fees, then buy foodstuff costly
The problem is Nigeria not business men. Business men are just doing business.
Nobody opens a business to loss money.

7 Likes

Re: Inflation, Why Do Traders Do These Things? by ryloy: 1:05pm On Jan 27, 2022
Nigerians are criminals

I wanted to buy a drug, the lady said it was #1200 I told her I bought it of recent #600. She said I should go and get it elsewhere...behold another chemist it was #500.

I took it to her with the receipt showing #500.

15 Likes 2 Shares

Re: Inflation, Why Do Traders Do These Things? by CUMIN: 1:08pm On Jan 27, 2022
Moneyboyz:
This has been going on for a while now and it's very annoying and criminal.

I went to the market to buy an ox standing fan, a friend of mine bought his 39,000 naira a few weeks ago but he didn't disclose the price cause I didn't ask.

I went to the market to get mine about a week ago and bought same fan for 44,000 naira.
I felt embarrassed and cheated and I'm sure I'm not the only one who has felt this way.

I'm very angry right now that whenever I go to the market to buy something and they start calling figures I ask them what is the price that even if I go elsewhere I will get it for that excat price.

This is a common trend among Igbo boys but now Yoruba and Hausa people have followed suit..

Right now I don't even know the price of fish and other food stuff cause they will first try to extort you by calling some big numbers, it's only through strict negotiation and perseverance that you will get something in the marketplace for the actual price that won't hurt both parties.

I think inflation in Nigeria today is what we made it and not what the government did, I can remember when pepsi and other soft drinks are being sold for 100 naira, some people started selling theirs 120 cause it's extra cold/frozen.

Before we know what's happening pepsi and others increased the prices of their drinks because they realised we are still buying even though it's being sold at enormous prices.

What is the government doing to control these prices? Hopefully someone would ask Mr president and the appropriate authorities on my behalf.

There's no price control in Nigeria.
Simply because at the board of every big companies in Nigeria is a seat for a politician or some one of means of Nigeria descent.

Unilever, nestle, Cadbury name it. They have a political seat for this kind of activities.

The Indian are worst.

In the fishing Importation business. They're cartel that dictate price at will.

Nigeria is a mad zone to leave.

1 Like

Re: Inflation, Why Do Traders Do These Things? by King125007(m): 1:08pm On Jan 27, 2022
Thank you my brother, finally someone said this exact thing that have be bothering me,
u see this country eh... We just too wicked

After corona virus all the prices of goods, food items, even transportation that they charge high because they were carrying less passengers then refuse to revert

Like i always ask them, so if government remove subsidy today what we happen to us? People will die o.. Cos food items will double again, transportation that one will just triple

My ibo brothers, and fellow Nigerians traders let us try to be considerate sometimes, we are only doing ourselves o

If you sell high for me today and think you won, me selling fish in the market will increase my fish price nd your wife may have to pay high for it... It's simple economics...

8 Likes

Re: Inflation, Why Do Traders Do These Things? by mrvitalis(m): 1:10pm On Jan 27, 2022
Authoreety:
Mad.... Apart from buhari being a huge disappointment, Nigerians are the problems of nigeria... Especially anyi bu ndi Igbo.... Agaghim ezobe onu.... Ndi Igbo na emeyeiri too much
Start the business sale cheaper

2 Likes

Re: Inflation, Why Do Traders Do These Things? by nike4love: 1:11pm On Jan 27, 2022
How can local producers manage the high cost of diesel,if u want to import the dollars increased from 189 to almost 550....clearing duty u pay to the govt for imported goods also tripled by the greedy govt.....
No electricity
No aid in forex
No encouragement for local producers.
Yet paid urchines comes here to rant how buhari is doing wonders with a country still in darkness....

Ndi ara

5 Likes

Re: Inflation, Why Do Traders Do These Things? by nisai: 1:11pm On Jan 27, 2022
Weathered:
Igbos corrupt the micro economic environment.

Yorubas corrupt the corporate and macro environment in Nigeria.
Gbam!
Re: Inflation, Why Do Traders Do These Things? by joyandfaith: 1:15pm On Jan 27, 2022
Moneyboyz:
This has been going on for a while now and it's very annoying and criminal.

I went to the market to buy an ox standing fan, a friend of mine bought his 39,000 naira a few weeks ago but he didn't disclose the price cause I didn't ask.

I went to the market to get mine about a week ago and bought same fan for 44,000 naira.
I felt embarrassed and cheated and I'm sure I'm not the only one who has felt this way.

I'm very angry right now that whenever I go to the market to buy something and they start calling figures I ask them what is the price that even if I go elsewhere I will get it for that excat price.

This is a common trend among Igbo boys but now Yoruba and Hausa people have followed suit..

Right now I don't even know the price of fish and other food stuff cause they will first try to extort you by calling some big numbers, it's only through strict negotiation and perseverance that you will get something in the marketplace for the actual price that won't hurt both parties.

I think inflation in Nigeria today is what we made it and not what the government did, I can remember when pepsi and other soft drinks are being sold for 100 naira, some people started selling theirs 120 cause it's extra cold/frozen.

Before we know what's happening pepsi and others increased the prices of their drinks because they realised we are still buying even though it's being sold at enormous prices.

What is the government doing to control these prices? Hopefully someone would ask Mr president and the appropriate authorities on my behalf.

I prefer to buy things in supermarkets with fixed prices. For other things like food stuffs, my wife handles that. It is good to know market prices before shopping.
Things to be more expensive in Nigeria whenever there is economic depression. Atypical economy.

3 Likes

Re: Inflation, Why Do Traders Do These Things? by mployer(m): 1:17pm On Jan 27, 2022
The price of goods increased the moment dollar increased to 580.

The reason for the everyday increament is because the traders are gradual in implementing the price increament to avoid shock response from customers.

The increament will continue until equilibrium price is attained.

The traders bear part of the burden just to keep you as a customer but y'all won't know.

3 Likes

Re: Inflation, Why Do Traders Do These Things? by Authoreety: 1:21pm On Jan 27, 2022
mrvitalis:

Start the business sale cheaper

My family has a minimart biz in Nigeria and I believe I taught my broda enough to handle it moderately.

Its still working for us..

1 Like

Re: Inflation, Why Do Traders Do These Things? by Brokeloser: 1:21pm On Jan 27, 2022
Majority of Nigerians are criminally minded.I wanted to buy something recently.The woman said 500 last,I checked another store and I got it for 350.

5 Likes

Re: Inflation, Why Do Traders Do These Things? by KCNATH(m): 1:21pm On Jan 27, 2022
Moneyboyz:


Yes I do, the rate at which things go up fast is depressing.
There is this chandelier I bought for my house for 50k, another person bought it in alaba for 27k.
Before she sold it for me at 50k sef na war, she said something about prices of things expensive in the market whereas they are the one inflating it.

Most times what happen to u guys is as a result of fake life.
Most sellers will weigh your looks and dress sense to know how and where dem go bill u.
I remember buying a mattress for #43k and a friend of mine got same stuff for #67k. When I tell am how much I buy my own, him come dey cry.

Re: Inflation, Why Do Traders Do These Things? by rajiedreez: 1:22pm On Jan 27, 2022
Bad, but as bad as it is if the government steps in to regulate price we'll all still cry foul of them. My brother na individual person supposed stop the greed tendencies they have in them before government steps in. We're too greedy here

1 Like

Re: Inflation, Why Do Traders Do These Things? by Nobody: 1:27pm On Jan 27, 2022
You poeple in Lagos are complaining of price increase in everything...
Others in another state buys stuffs double the Lagos price must especailly Enugu poeple, prices here tie wrapper

What can I say than sai Buhari 4x4x4= D.I.E
Remember Tinubu is warming up oo.
Re: Inflation, Why Do Traders Do These Things? by mrvitalis(m): 1:28pm On Jan 27, 2022
Authoreety:


My family has a minimart biz in Nigeria and I believe I taught my broda enough to handle it moderately.

Its still working for us..
How do u define moderate profit ? People just talk as if their is manual to business

Nestle by less than 2 billion dollars worth of cocoa make over 30 billion in sales of chocolate have u called them out ,?

As long as the person agrees on the price u are willing to sale it's not a bad thing ok

Starbucks sales a cup of coffe how much ? Would u call them greedy ? Make your coffee at home

7 Likes

Re: Inflation, Why Do Traders Do These Things? by Dreytonisback(m): 1:29pm On Jan 27, 2022
That's Nigeria for you

A friend of mine bought a big fireman generator just 4days ago
Showed me the receipt and it was exactly 475k

I went to the same shop yesterday to get one for my younger bro , they said it's now 490k last no reduction

Man no get choice than to buy , else it might get increased again cheesy

Lights up my kpoli in peace

7 Likes

Re: Inflation, Why Do Traders Do These Things? by HEBEI: 1:30pm On Jan 27, 2022
If you mention Igbo boys again, embarassed lipsrsealed lipsrsealed lipsrsealed lipsrsealed


Nigerian buyers prefer to price whatever item that they want to buy before payment. Some even make noise when you give them the last price as the first price.

1 Like

Re: Inflation, Why Do Traders Do These Things? by derbykol(f): 1:43pm On Jan 27, 2022
Weathered:
Igbos corrupt the micro economic environment.

Yorubas corrupt the corporate and macro environment in Nigeria.
And Hausa did which one?

1 Like

Re: Inflation, Why Do Traders Do These Things? by Thinktwicemybro: 1:44pm On Jan 27, 2022
BlackfyreRebell:
That was how one useless fvcker almost cheated me.
I wanted to buy a teatree facial scrub,the price tag on it says 1400 only for the woman to tear it out and said it's 2400 cos it's now expensive in the market.

Wtf! I changed it for her that moment. Imagine selling something old you bought cheap for a price of new cos it's now expensive.
Read what you wrote again and ask yourself if you have sense. She bought laptop in January for 30k, and now that laptop is 50k. You expect her to still sell it for 30k? Are you alright atall ?
If she sell it for 30k what will be her profit and how will she buy another stock. Learn to think abeg.
The problem is your government policies and not the seller. Your government subsidized petrol but leave the dollar floating without regulation. Prices for goods were stable under GEJ government because dollar was subsidized and fixed at #199. It's no rocket science, enjoy your buhari that does not even have the balls to remove fuel subsidy.

6 Likes

Re: Inflation, Why Do Traders Do These Things? by BabaIbo: 1:46pm On Jan 27, 2022
Offpoint1:
That's why you need street sense and bargaining skill...

If an igbo man gives you 15k starting price... kindly respond with "You no collect 5k" from their you 2k max, don't go above 7k.
If an Hausa man gives you 10k starting price... respond with "you no collect 6k"? add 1k to it as last price.
If a Yoruba gives you 10k starting price, respond with "you collect 4k" add 2k it as final price....

Don't pronounce the "Collect" correctly, pronounce it as "Ke-lect"


Your name is offpoint, so you're off point.
Re: Inflation, Why Do Traders Do These Things? by Military0001: 1:47pm On Jan 27, 2022
Price varies from customer to customer, it’s not a Nigerian thing but universal business standard in open market

1 Like

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