₦airaland Forum

"Rice is becoming cheap. Although we like it but as traders, we are not really happy..."

"Rice is becoming cheap. Although we like it but as traders, we are not really happy..." pic.twitter.com/TuRIpMG2cR

— Ayekooto (@DeeOneAyekooto) November 14, 2025

Why are traders not happy?
You will make your profits and you will sell more

The interviewer should've asked them why they weren't happy because price drop means more sales

Bitter Ones everywhere , very unfortunate people

I always tell people that Nigerians are the most greedy/selfish people on earth but they think I'm joking.

The enemies of better things will say they have been bribed for saying this.

Nigerians now know our enemies

The heart of an average Nigerian businessman is terribly wicked, they value abnormal profit more than the lives and welfare of the general populace

yarimo:
Bitterness Ones everywhere

In English okay??

SmartPolician:
The interviewer should've asked them why they weren't happy because price drop means more sales

Price drop also means that they may not be able to recoop their investments which may lead to losses and even the business's collapse.

For instance you buy a bag of rice at N100, the next day the prevailing market price drops to N80, that means that for every bag you sell,you lose N20, if you took a loan from the bank to buy the bags of rice, you will struggle to repay.

huptin:
Price drop also means that they may not be able to recoop their investments which may lead to losses and even the business's collapse.

For instance you buy a bag of rice at N100, the next day the prevailing market price drops to N80, that means that for every bag you sell,you lose N20, if you took a loan from the bank to buy the bags of rice, you will struggle to repay.

They made insane profit since 2023 when the price has been increasing, they are suppose to prepare for a day like this

Rice is becoming "cheap" as a result of massive importation, not due to any rocket science by this administration. It's a policy that will hurt us in the long run. Just like negotiating with bandits to attain temporary peace until after the elections.

AMINDA:
Rice is becoming "cheap" as a result of massive importation, not due to any rocket science by this administration. It's a policy that will hurt us in the long run. Just like negotiating with bandits to attain temporary peace until after the elections.

Where is anchor borrowers money for rice cultivation

Your northern rice farmers don scam Nigeria, instead of using the money to farm they use it to marry many wives, today they can't compete with imported rice.
.
Tinubu abeg open the border more for rice importation especially

I don't mind the policy that's making rice cheap, local farmers had their opportunities, they misused it, they allowed greed and wickedness to override their sense of patriotism.
Imported rice is now in every market to the chagrin of the local farmers and rice traders.

Ikaeniyan0:
They made insane profit since 2023 when the price has been increasing, they are suppose to prepare for a day like this

Ok I see the point of dissonance, you are talking ideal, I am talking reality.

When you said they made insane profits, you assumed rather hastily that prices of goods and service remained stagnant, so they were able to save.

In reality, whatever profits you believed they made have been swallowed up by cost of living crisis..they had to survive first before saving.

Another reality, businesses dont keep their profits, they plough it back into the business or they expand into other businesses...so clearly your assumptions are too simplistic to make any sound economic sense.

Rice use to be #200 per mudu back in 2015, so what are you talking about?

huptin:
Ok I see the point of dissonance, you are talking ideal, I am talking reality.

When you said they made insane profits, you assumed rather hastily that prices of goods and service remained stagnant, so they were able to save.

In reality, whatever profits you believed they made have been swallowed up by cost of living crisis..they had to survive first before saving.

Another reality, businesses dont keep their profits, they plough it back into the business or they expand into other businesses...so clearly your assumptions are too simplistic to make any sound economic sense.

I am one of the advocate for banning importation of rice, we all taught if enough money is plough into rice cultivation it will boost rice production and eventually crash the price of rice. but today I know better, despite the humongous money pump by Emefiele into rice cultivation, those yahoo farmers just disappear with the money, rice we no see, money we no see.

The way and mean that eventually result to inflation was majorly caused by bad debt that didn't go into production in the economy.

Let government retain in particular importation of rice and few other vital grains. The North are no longer as active in agriculture as they used to be

Their argument is that the price fell drastically, so the stock they bought at a higher price caused them a ₦5k loss because they now have to sell at the prevailing lower market value.

But this is the real problem: when the price goes up, they happily sell at the new market price and you won’t hear a word from them about how much they gained. It’s only when the price falls that we suddenly start hearing their lamentation.

She even said that last year the bag was about ₦90k+, and now this year it’s selling for ₦50k+. I love that.

AMINDA:
Rice is becoming "cheap" as a result of massive importation, not due to any rocket science by this administration. It's a policy that will hurt us in the long run. Just like negotiating with bandits to attain temporary peace until after the elections.

Is the imported rice subsidised or being sold at market value?

Bahamas95:
I always tell people that Nigerians are the most greedy/selfish people on earth but they think I'm joking.

I totally agree with you

NIGERIANS

Humans are so despicable!

Bruno3000:
I totally agree with you

During the cash scarcity caused by Emefiele I saw pure wickedness. All the shop owners in my street/POS operators started behaving like gods.


You'll buy something of 7k and a shop owner will tell you to transfer 9k, las las you'll negotiate and they'll accept 8k.

The report does not make sense! The lower the price, the more the demand for such a commodity as rice which is a staple food in Nigeria. More demands equals more sales and profits. Everyone should be happy, assuming the report is true sha.

AMINDA:
Rice is becoming "cheap" as a result of massive importation, not due to any rocket science by this administration. It's a policy that will hurt us in the long run. Just like negotiating with bandits to attain temporary peace until after the elections.

If that is true. Then, Nigerians should support importation of rice because these rice farmers are greedy set of Nigerians. I could remember anchor borrower program by last the administration. What came out of it? Greediness and selfishness....

LegendHero:
Their argument is that the price fell drastically, so the stock they bought at a higher price caused them a ₦5k loss because they now have to sell at the prevailing lower market value.

But this is the real problem: when the price goes up, they happily sell at the new market price and you won’t hear a word from them about how much they gained. It’s only when the price falls that we suddenly start hearing their lamentation.

She even said that last year the bag was about ₦90k+, and now this year it’s selling for ₦50k+. I love that.

You got it bro..... Don't mind them...

lawani:
Why are traders not happy?
You will make your profits and you will sell more

Rice is getting cheaper, and that makes many people happy because they can buy more. But for traders, it means they earn less money when the price goes down. So even though cheaper rice is good for buyers, it is not always good for the people who sell it, because they don’t make as much profit as before.

Adblg0610:
Rice is getting cheaper, and that makes many people happy because they can buy more. But for traders, it means they earn less money when the price goes down. So even though cheaper rice is good for buyers, it is not always good for the people who sell it, because they don’t make as much profit as before.

Then they should go and sell beans

Bahamas95:
I always tell people that Nigerians are the most greedy/selfish people on earth but they think I'm joking.

Nigerians are mostly heartless.

lawani:
Why are traders not happy?
You will make your profits and you will sell more

Don't mind them.. Greedy and selfish set of people

Bahamas95:
I always tell people that Nigerians are the most greedy/selfish people on earth but they think I'm joking.

I tell you bro. Na when people live in other countries they'll understand better.

Overseas, mostly as a food trader you dare not increase cost of your goods arbitrarily, Govt will sanction such person..

Most Nigerians are just too greedy!

Cos they majorly HOARD these commodities. I heard such from someone into rice farming.

They hoarded produce such as rice and beans, unfortunately it backfires atimes.

SmartPolician:
The interviewer should've asked them why they weren't happy because price drop means more sales

Bahamas95:
During the cash scarcity caused by Emefiele I saw pure wickedness. All the shop owners in my street/POS operators started behaving like gods.


You'll buy something of 7k and a shop owner will tell you to transfer 9k, las las you'll negotiate and they'll accept 8k.

Very terrible set of people. And they can Sabi pray ehn.. you'd think they are the holiest of people.