RillyBA:
I dont know for other region ooo but here in Zamfara price of goods are dropping fast. Though the state govt took it to themselves to solve the issue of using dollar as a means of estorting from the people. As of yesterday a bag of rice is 52250 from 75-80k

How's the insecurity situation there?

I've never been to Zamfara. I don't think I will be visiting soon as well, considering the security reports from there.

ppogba:
Prices go up, propaganda.
Prices refuse to come down propaganda.

Then what is propaganda?

Propaganda is shifting blames instead of tackling the problems at hand head on

pretydiva:
Their excuse is they still have old stocks to sell. But once they hear naira has depreciated, they immediately inflate their price not minding if it’s an old stock.

Na we Dey do ourselves for this country. We too get ojukoko eyes

Good point.

adioolayi:

"The analysts noted that positive exchange rate changes take time to trickle down to the prices of consumer goods"

Nothing like the above...we are just being wicked to ourselves!

When exchange rate shoot up, sellers immediately jack up their prices...even those with old stocks bought at reduced prices..

Now, when exchange rate is coming down, we are saying sellers have old stocks bought at high prices and will take time to come down

Why not the same rule when the exchange rate went up and they increased prices of goods bought at old rate

We never ready.

💯

Abgado economy... dollar can make prices to go up, but cannot make the same prices to come down... Nigeria matter tire me.

They told us things went high due to naira exchange but now dollar is getting low compared to naira I expect things should be getting low too....

This is just human doing human I mean evil mind

bigsmoke2:
It's greed that has kept the prices high. People who made criminally high profits when FX was high don't want to take the loss of market shifts.

Exactly the point ..and people fail to know that even in the so called free markets Govt do go after sellers of essential goods and services not to over price the public,that's what they are always against monopoly,rackeeting ,cartels etc..it's a common thing in some states in the USA and in the UK..one of the major factor of price hike has gone down..what I expect most is for new business men to enter the market buy at the new rate sell the goods at reduced price..that will force other sellers price down..glo did it once ..air peace just did it..that's what government should encourage.. especially with wheat importation and other goods..govt should also go after transporters ..their own price has not gone down too they are one of the major reason of price hikes.

If you buy dollar when it dips to 1,070|$ let me see your hand up.
The bull have started o o

After Beyonce,the enemies of Nigeria have gathered again to float another Cryptocurrency called btBy and why is CBN allowing Cryptocurrency into Nigeria- when other Nations are banning them
Very Shameful Indeed!

The dollar should kukuma go up back

motionarena:

When naira went to 1900 per dollar Did price of fuel increase?

Why did it not increase?

pretydiva:

So if dollar depreciates and you still have old stocks that automatically mean you inflate your price? Oga na you sabi

Shut up and think for once. Read what that guy asked you and pause and think…There is a reason why God have you a brain, don’t reply, just pause and think..

HopeUzodinma:


Shut up and think for once. Read what that guy asked you and pause and think…There is a reason why God have you a brain, don’t reply, just pause and think..

Your brain is paining you. You must be silly to type this thrash. See you wey God give brain. Nosy fellow!

pretydiva:

Your brain is paining you. You must be silly to type this thrash. See you wey God give brain. Nosy fellow!

That’s the problem, you read to reply, not to think. You are wasting your brain.
I can deduce that you have never ever attempted to run a business in your life and instead of you to calm down and try to understand why businesses run the way they run, you are quick to curse and comment on what is beyond your brain ability.
Start thinking, stop talking…

ppogba:


The borders are open.
Stop exhibiting your ignorance openly and publicly.

Why are food stuffs still getting impounded by customs?

Are you telling me I can bring any foodstuff legally into the country?

Trustme2:
Ok. Before na dollar. Now na wetin? Nigeria's situation defies any global economic assumption. Which way naija

..the costs of transportation determines the price of foodstuffs and goods..it's the high costs of fuel and disel that is causing the high costs of food stuffs and goods...the high costs of transportating this foodstuffs and goods to the market is the cause of the high costs of food stuffs and goods

You cannot run away from it . the costs of transportation determines the costs of food stuffs and goods in the market..so it's the high costs of fuel and disel that is making the price of foodstuffs and goods to be expensive..the high cost of transportating this foodstuffs and goods to the market is the cause of the high costs of food stuffs and goods in the market.. simple

Orathird:
The moment I saw government officials going around Super markets to check their prices , I just laugh.

I sell and resell local rice in abuja And I know what we go through to buy local rice.

So many factors contribute to the price increase.

The rice farmers paid huge some of money to cultivate and harvest their rice.

Some sellers buy and process the rice. If you goto the engine, you pay high to process it.

They now transfer the high cost to us the whole-sellers.

Whole-sellers like us transfer to the retailer and the retailers to the final consumers.

..and also the transportation costs of transportating the rice to the market and with the high costs of fuel and disel transportation costs will be high to transport the rice to the market which makes the rice to be expensive in the market

HopeUzodinma:


That’s the problem, you read to reply, not to think. You are wasting your brain.
I can deduce that you have never ever attempted to run a business in your life and instead of you to calm down and try to understand why businesses run the way they run, you are quick to curse and comment on what is beyond your brain ability.
Start thinking, stop talking…

Since you’re not wasting your brain, perhaps you could channel it into proper use. This will be my last response to you

bigsmoke2:
It's greed that has kept the prices high. People who made criminally high profits when FX was high don't want to take the loss of market shifts.

..not greed..it's the high costs of fuel and disel causing the prices of foodstuffs and goods to be expensive in the market..the high costs of transportating this food stuffs and goods to the market makes the price of foodstuffs and goods to be expensive

Lol @ Speedy Appreciation.
Artificial solution is only temporal.
Rates are going up again.
Let the FG continue to defend the naira with FX reserves and not find fundamental solutions.
You people will learn.
For those of you who have dollars, better keep it!

ufotunang:
..and also the transportation costs of transportating the rice to the market and with the high costs of fuel and disel transportation costs will be high to transport the rice to the market which makes the rice to be expensive in the market

Exactly oooo

Truth is the average Nigerian is naturally wicked and loves reaping his fellow citizens off. Price rose they pointed to the rise in the dollar now the dollar has fallen they are pointing to other variables. Wicked souls

phransix2:
You don't need to explain anything. The Nigeria market is full of wicked people that thrives because nobody checkmates them.

The period Dollar was on the rise, items on their shelves that was bought when dollar was low they increased the prices right away.

Have you run business before now? So if you sell with the old price, when you when to recouped your stock, where will the money come from since the initial price has increased? I can practically tell you that no businessman is making profit during the period of unstable economy. You buy something today, say #200 and resell @ #220, thinking that you made a profit of #20. You will to go market the next day to recouped your stocked, what you sold @ #220 is being sold #230 at wholesale price, your profit and some external capital will be reinvested in the business, that was the cycle. It's now that prices are stabilizing.

Address the insecurity challenge
Empower Consumer Protection Council
Govt being properly involved in agribusiness (not the CBN anchor borrower program again!)

These steps would help curb the inflation especially in the agric sector.

At this point, I don't understand this entire drama of prices refusing to come down.

Orathird:
The moment I saw government officials going around Super markets to check their prices , I just laugh.

I sell and resell local rice in abuja And I know what we go through to buy local rice.

So many factors contribute to the price increase.

The rice farmers paid huge some of money to cultivate and harvest their rice.

Some sellers buy and process the rice. If you goto the engine, you pay high to process it.

They now transfer the high cost to us the whole-sellers.

Whole-sellers like us transfer to the retailer and the retailers to the final consumers.

And the final consumers transfer to who.....?

This analysis is wrong. When dollar goes up, goods sellers increased their prices immediately, but when prices come down, they feel reluctant to bring down the prices quoting they still have old stocks, can you imagine?

Trustme2:
Ok. Before na dollar. Now na wetin? Nigeria's situation defies any global economic assumption. Which way naija

So you think those trying to manage the the inflation before these fools happened were not smart? How can you people vote people looking for their certificate in courtroom and expect things to go right?

With the reduction in the rate of USD $$$ there should be a reduction in the price of goods and services.....!!! If not, then it is not sustainable; someone is fooling someone !!!! Yeye dey smell