₦airaland Forum

Sanchez01:
Nigerians are perhaps the most opportunistic people on earth. With the recent hike in the Dollar against the Naira at the parallel market, One would think "hoarders" and traders have been praying for this moment to happen. They smile when they sell to you under the aegis of "Dollar has gone up" yet groan and blame Buhari when they themselves buy things they need to survive.

The recent hike in "pure water" price, from Lagos to Benin, to Enugu, one would realize after careful analysis that these people have no business increasing the prices of their products just because they intend to make horrible profits. There's a big difference between ripping off and making profits, and the former is what most have resorted to.

Just recently I called a popular sachet water company in Enugu here to supply me with water that would last me for a month, the owner, whom I spoke with on the phone intimated me that the initial selling price of N80 per bag had been abandoned and the new price is N100. His reason? "The Dollar has gone up". I had no choice but to settle for it, asked him to send his boys over after telling him how many I wanted.

With the heat and terrible atmosphere, I had finished every water in the house while still thirsty. I dashed out of the house to get a bag from a retailer around. The one I had ordered for was taking too long and I couldn't stand it; I couldn't bring myself to wait for the pure water vehicle to arrive.

To my amazement, the retailer just close to the house who had stocked even before the price of N100 per bag came into play told me he sells a bag for N150! "Why?" I mustered strength to ask him. "Are you not in this country?", he quizzed. "You no know say Dollar don cost?", he responded. I simply couldn't believe it. Let's pretend and just give it to him that he had bought his water at the rate of N100 per bag just like I confirmed from the man I spoke with on the phone, why wouldn't the retailer sell for N120 or N130? Why sell with a 50% profit just because everyone around him complains of the Dollar

There are virtually goods cum products in the market that had long been stocked before the Dollar rise and then you discover that their prices jump off the roof all of a sudden for no reason.

It is really saddening that we are the ones making life hard for ourselves. Worst of all, we are very much aware of this but would still not bat an eyelid. I find it baffling that we're quick to hike prices of goods and services and at the end of the day, find it hard to revert to the original price before the brouhaha responsible for the hike came into being. No one is saying profits should not be made, but when it becomes rip offs and cheap shots, then it shows that we are the most inconsiderate people ever. It shows that we are our own problems.

erico2k2:
So boycott. Getting on bus or taxi to work or driving ur own car cos they got to Nigeria via forex. If you dont then you r worse than the enemies of Nigeria.

osaslord500:
what the op don't understand is the fact that the pure water seller will also buy other things affected by dollar for a higher price. If the pure water seller is to buy a bag of rice which is now 14k from 9k, he needs to increase the price of pure water

Tycyborg:
I can't believe a Nigerian will utter the statement that other materials are imported for the production of pure water... can you tell me what and what are needed please... for your information nothing is imported unless they are buying new machines everyday. so stop guessing.

porozhniy:
How does me having a scale of preference make me an enemy of the state?

Tycyborg:
I can't believe a Nigerian will utter the statement that other materials are imported for the production of pure water... can you tell me what and what are needed please... for your information nothing is imported unless they are buying new machines everyday. so stop guessing.

NOETHNICITY:
Why shud transport fare increase when d price of fuel has come down?

Mcowubaba:
Of course the Government can control nd regulate this issue.

I didn't do much of Economics, but I remember that there is supposed to be an Agency or Ministry that is Incharge of Price Regulation nd Promotion, just as we have PPPRA nd DPR for Petroleum products...I just can't remember the name of the Agency or whether the are still in active existence

erico2k2:
Cos you are deliberately being ignorant.who told you we ha e a scale of preference in this situation? Can we afford such? We cannot have all we want let alone of what to chose from.

erico2k2:
Cos you are deliberately being ignorant.who told you we ha e a scale of preference in this situation? Can we afford such? We cannot have all we want let alone of what to chose from.

porozhniy:
we? Speak for yourself please. I arrange my lean resources to meet my basic needs and buying a bag of satchet water for N150 is not a basic need for me. 20 ltrs of water sells for N10 in my area & with a water dispenser i'm good to go. Yes, i believe we have alternatives needed to survive this economic downturn, you jst gotta look inwards.

erico2k2:
So what's your alternative? You mention water dispenser. ?would the price not go up as well since its bought with forex? ?so where is your economics of scale?there is no substitute to chose from without forex when it comes to clean and contained water. As U speak right now yoyr phone /laptop was bought via forex so if you where to provide services with it right now the cost of a spare one will add to your overhead.

porozhniy:
Do we buy spare parts every day? Why is the cost nylon bags and it's allied products still the same in the market? Yes,When it comes to clean and contained water, i have an alternative and i use it.

Bankitee:
You have made good point, but technically if he still sell at the old price knowing fully well that the cost is now higher than usual, he's already running at loss, coz by the time he goes back to the market to replace his stock, he won't be able to with d money at hand. That's why at the end of the day most business men end up buying not as much as they use to buy.

erico2k2:
Come on man you can do better than this,why does the cost of a piece of land go up with time even though nothing is added to the land?
Answer, there is development around it.This is how world market works, when you are not in control of production from A-Z,certain things will add to your overhead at some point,cos if you sell at same price, you wont be able to buy bulk of new stock of same product.

dsquare33:
It is glaring that Nigerians are their own worst enemies.Even the pepper and meat seller are using Dollars as an excuse to hike their products, no wonder the country is not moving forward.

osaslord500:
what the op don't understand is the fact that the pure water seller will also buy other things affected by dollar for a higher price. If the pure water seller is to buy a bag of rice which is now 14k from 9k, he needs to increase the price of pure water

Sanchez01:
Nigerians are perhaps the most opportunistic people on earth. With the recent hike in the Dollar against the Naira at the parallel market, One would think "hoarders" and traders have been praying for this moment to happen. They smile when they sell to you under the aegis of "Dollar has gone up" yet groan and blame Buhari when they themselves buy things they need to survive.

The recent hike in "pure water" price, from Lagos to Benin, to Enugu, one would realize after careful analysis that these people have no business increasing the prices of their products just because they intend to make horrible profits. There's a big difference between ripping off and making profits, and the former is what most have resorted to.

Just recently I called a popular sachet water company in Enugu here to supply me with water that would last me for a month, the owner, whom I spoke with on the phone intimated me that the initial selling price of N80 per bag had been abandoned and the new price is N100. His reason? "The Dollar has gone up". I had no choice but to settle for it, asked him to send his boys over after telling him how many I wanted.

With the heat and terrible atmosphere, I had finished every water in the house while still thirsty. I dashed out of the house to get a bag from a retailer around. The one I had ordered for was taking too long and I couldn't stand it; I couldn't bring myself to wait for the pure water vehicle to arrive.

To my amazement, the retailer just close to the house who had stocked even before the price of N100 per bag came into play told me he sells a bag for N150! "Why?" I mustered strength to ask him. "Are you not in this country?", he quizzed. "You no know say Dollar don cost?", he responded. I simply couldn't believe it. Let's pretend and just give it to him that he had bought his water at the rate of N100 per bag just like I confirmed from the man I spoke with on the phone, why wouldn't the retailer sell for N120 or N130? Why sell with a 50% profit just because everyone around him complains of the Dollar

There are virtually goods cum products in the market that had long been stocked before the Dollar rise and then you discover that their prices jump off the roof all of a sudden for no reason.

It is really saddening that we are the ones making life hard for ourselves. Worst of all, we are very much aware of this but would still not bat an eyelid. I find it baffling that we're quick to hike prices of goods and services and at the end of the day, find it hard to revert to the original price before the brouhaha responsible for the hike came into being. No one is saying profits should not be made, but when it becomes rip offs and cheap shots, then it shows that we are the most inconsiderate people ever. It shows that we are our own problems.

porozhniy:
I understand where you're coming from. All i'm trying to say is i can do without satchet water & so can a lot of people in my present location. As a matter fact, it still sells for N10 per satchet. The producers here may not be able to deal with reduced sales that comes with price hike.

Sanchez01:
Nigerians are perhaps the most opportunistic people on earth. With the recent hike in the Dollar against the Naira at the parallel market, One would think "hoarders" and traders have been praying for this moment to happen. They smile when they sell to you under the aegis of "Dollar has gone up" yet groan and blame Buhari when they themselves buy things they need to survive.

The recent hike in "pure water" price, from Lagos to Benin, to Enugu, one would realize after careful analysis that these people have no business increasing the prices of their products just because they intend to make horrible profits. There's a big difference between ripping off and making profits, and the former is what most have resorted to.

Just recently I called a popular sachet water company in Enugu here to supply me with water that would last me for a month, the owner, whom I spoke with on the phone intimated me that the initial selling price of N80 per bag had been abandoned and the new price is N100. His reason? "The Dollar has gone up". I had no choice but to settle for it, asked him to send his boys over after telling him how many I wanted.

With the heat and terrible atmosphere, I had finished every water in the house while still thirsty. I dashed out of the house to get a bag from a retailer around. The one I had ordered for was taking too long and I couldn't stand it; I couldn't bring myself to wait for the pure water vehicle to arrive.

To my amazement, the retailer just close to the house who had stocked even before the price of N100 per bag came into play told me he sells a bag for N150! "Why?" I mustered strength to ask him. "Are you not in this country?", he quizzed. "You no know say Dollar don cost?", he responded. I simply couldn't believe it. Let's pretend and just give it to him that he had bought his water at the rate of N100 per bag just like I confirmed from the man I spoke with on the phone, why wouldn't the retailer sell for N120 or N130? Why sell with a 50% profit just because everyone around him complains of the Dollar

There are virtually goods cum products in the market that had long been stocked before the Dollar rise and then you discover that their prices jump off the roof all of a sudden for no reason.

It is really saddening that we are the ones making life hard for ourselves. Worst of all, we are very much aware of this but would still not bat an eyelid. I find it baffling that we're quick to hike prices of goods and services and at the end of the day, find it hard to revert to the original price before the brouhaha responsible for the hike came into being. No one is saying profits should not be made, but when it becomes rip offs and cheap shots, then it shows that we are the most inconsiderate people ever. It shows that we are our own problems.

osaslord500:
what the op don't understand is the fact that the pure water seller will also buy other things affected by dollar for a higher price. If the pure water seller is to buy a bag of rice which is now 14k from 9k, he needs to increase the price of pure water