₦airaland Forum

Elvictor:
Tinubu 'causing pains and agony to every Nigerian, yesterday two days ago 1450naira, today another price, prices of goods all over the country is going up without looking at the new price of dollar.

But I will still vote him in 2027

MetalJigsaw:
Then why will you still vote for him?

HeadNigga:
$1 to 216 naira is the benchmark. Achieve that and get my kudos.

Please don't quote me to say he doesn't need my kudos

mactoni91:
Lol...

N1550 - N1580 is now an achievement?

This cosmetic approach isn't sustainable.

“Naira would touch N2,000/$ before March ending.”

hopexter:
You already know he doesn’t, so don’t worry about people accusing you

nlfpmod:
https://businessday.ng/business-economy/article/naira-stable-in-parallel-market-after-cbns-7-85m-sale-to-bdcs/

Etinemideri:
Let dollar go back to 700 naira not this type of fake hope

HayTerran:
Retailers and vendors who had the products before hike in dollar will automatically match price with the current dollar. But when naira gains weight, they still sell high, saying they bought high. However, you didn't sell low when you bought low and dollar hiked o. Nigerians are so wicked. God punish all of you doing that. Na salary earning and non-business individuals suffer pass.

But to be honest, it's hard to be a Cardoso right now. That guy is working crazily hard! Kudos to him. I hope everything turn out good eventually.

Mopolchi:
Cardoso dey confused! He no know wetin he dey do. He dey lie give us and dollars still dey grow.

money121:
Ok now


CLAP FOR CARDOSO

RichDad1:
Gradually we’ll get there.

Xox1945:
Useless naria gained what was naria 9 yrs ago APC is demonic party

Otunbakayce:
Nigeria is a crime scene the earlier you realise the better.
Naira was 720 at the parallel market before the drug addicted calamity took over here they are celebrating Naira at 1580.

And the nicompus called it "stable" ... This Agbado media boys are suffering from Stockholm syndrome ahswear... Petty media rats on 30k per month typing rubbish just to deceive gullible Nigerians

HayTerran:
Retailers and vendors who had the products before hike in dollar will automatically match price with the current dollar. But when naira gains weight, they still sell high, saying they bought high. However, you didn't sell low when you bought low and dollar hiked o. Nigerians are so wicked. God punish all of you doing that. Na salary earning and non-business individuals suffer pass.

But to be honest, it's hard to be a Cardoso right now. That guy is working crazily hard! Kudos to him. I hope everything turns out good eventually.

HayTerran:
Retailers and vendors who had the products before hike in dollar will automatically match price with the current dollar. But when naira gains weight, they still sell high, saying they bought high. However, you didn't sell low when you bought low and dollar hiked o. Nigerians are so wicked. God punish all of you doing that. Na salary earning and non-business individuals suffer pass.

But to be honest, it's hard to be a Cardoso right now. That guy is working crazily hard! Kudos to him. I hope everything turns out good eventually.

J3susFr3ak:
Someone mentioned this before....the arbitrary increases by vendors is because the structure of the market is extremely fragmented and unsupervised. More developed economies aggregate their retail outlets to a few dominant players that can buy in bulk and afford to standardize or regulate prices in their large Department stores. Consumers shopping in a Tesco can transparently see the equivalent price in Aldi and easily vote with their wallets to the detriment of the larger store which is now pressurized to reduce their own prices or else lose customers and marketshare.

The unregulated open air African markets have failed in this regard.

Here is a strong challenge to each state and local government in the country. Each state can afford to build a modest Fresh Market Store and buy food items directly from the farms (farmers can even agree to plant a demanded crop and pre-sell the crop to the Regulated market even before their harvest). I am also certain the same Government can also buy wholesale food items from various food manufacturers on a scale the individual vendors cannot. For instance, a Walmart has the pricing power to demand lower prices from various suppliers in Asia and the Asians comply because Walmart buys in massive bulk and everyone wins in the end since it makes more sense to sell more units at lower prices since the profits accumulates and helps stabilize and lower prices all along the production chain in the long run.

Nigeria would need a similar local retailer able to make such a massive bargain and create initial product loss leaders in order to depress local prices in the Long run.

The objective of such a Government owned Fresh markets with a rational and predictable pricing system is to specifically put some pressure on the wild unregulated open air markets to tactically push them to lowering their prices in the long run....since customers would always gravitate to where the same product has a lower price.

But your average local government chairman, councilor or Governor will prefer to pilfer to build personal mansions and estates....and not think of creating structures and systems that help their poor in the long run,