₦airaland Forum

truthspeaks:
Lo n behold, sarrki, aufbauh, madridguy, hungerbad, dropshot n mrvitalis r all missing in dis thread. Come n do ur paid job oo

Wooo that's an opportunity to start a production company.. Even if it is garri processing

psucc:
The scale they use must be faulty to arrive at a 92% increase.

For example, a 20 litre jar of palm oil was N6k in 2015 but rose to N16k presently.

A bag of rice was about 9k but now sold for 23k.

I think the used average products prices!
Most of the products experienced almost a 100% inflation
Dou some where even close to 400% inflation!!!

psucc:
The scale they use must be faulty to arrive at a 92% increase.

For example, a 20 litre jar of palm oil was N6k in 2015 but rose to N16k presently.

A bag of rice was about 9k but now sold for 23k.

They made use of the aggregate price level. that 96% may be correct. but that's still very ridiculous

mrvitalis:
Wooo that's an opportunity to start a production company.. Even if it is garri processing

That's how you know people who have absolutely ZERO knowledge about business

You hear high prices, you immediately translate it to mean higher profits in your small closed mindedness

SpecialStar:

sorry

kenbee:
Atiku and Obi ticket will make sense

Hope Obi will be the presidential candidate and Atiku his vice.
We're tired of dumb geriatrics.

Sai Baba need to reshuffle his economic recovery team. We need capable team as things is getting out of hand.

The wicked apc government.

greatgod2012:
Please o, what scale or parameter did they use to arrive at that 92%? Because the consumer goods prices we're talking about here increased by more than 150%.

For example

Rice was sold for 9k before but now above 16k.

Spaghetti was between #100 and #110 but now #270.
Palm oil was 7k before but now almost 20k (25 litres keg).

Kings vegetable oil of 5litres was #1200 before but now #3000.

A rubber of sugar was #300 before but now #800.

Even garri price increased by more than 100%


And so on......


Honestly, it has never been this bad
I just wish 2017 will be better, but I'm afraid.

busted!! spagheti sells for 220 and not 270.lol.
btw, that is still way bad. we need rigorous measures to combat this inflanationary situation

psucc:
The scale they use must be faulty to arrive at a 92% increase.

For example, a 20 litre jar of palm oil was N6k in 2015 but rose to N16k presently.

A bag of rice was about 9k but now sold for 23k.

I was even expecting by %150 not this %92 i am seeing

psucc:
The scale they use must be faulty to arrive at a 92% increase.

For example, a 20 litre jar of palm oil was N6k in 2015 but rose to N16k presently.

A bag of rice was about 9k but now sold for 23k.

CPI is measured based on general price level. I'll not curse the womb that gave birth to Bubu, I'll only blame the zombies and changing chanting demons.

Ramanto:
busted!! spagheti sells for 220 and not 270.lol.
btw, that is still way bad. we need rigorous measures to combat this inflanationary situation

Maybe in your area. Just yesterday,, I wanted to buy spaghetti and the seller told me that 3 is #750 but one is #270. So, I had to buy 3 to be able to get the discount.

mrvitalis:
Wooo that's an opportunity to start a production company.. Even if it is garri processing

A zombie will alwz show im self. Do u really knw what inflation is? Do u really knw how a production company works? Have u ever heard of factor prices? What of how prices are determined? Enter Economics class u no gree. Abeg evri bodi no bi zombie.

MrPresident1:
Luke 21:25
25 And there shall be signs in the sun, and in the moon, and in the stars; and upon the earth distress of nations, with perplexity; the sea and the waves roaring;

Nigeria's economic troubles is a sign of end times and the coming of Jesus.

Jesus will come on or before the 20th of January 2017. Please let us all be sober and watchful

See Buhari-induced dementia. Buhari see wat haf cause now. Bro, abeg....

shirt of 6500 in 2015 turn 10k. ayele o

Whatever happened to having an agency that sees to the regulation of prices of commodities in the market, this would go a long way in cutting the excesses of greedy marketers.

Truth234:
The cost of goods in Nigeria rose to a record high in 2016, following the persistent increase in prices of goods across the nation.

The consumer price index, which measures inflation rate surged from 9.62 percent in January to about 92 percent in November.

While the CPI figures for December would be released in January 2017, it is projected by experts to remain within 18 percent.

However, the federal government during its National Economic Recovery Growth Plan (NERGP) said it was targeting a growth rate of about 7 percent between 2017 and 2020. This, experts believed will moderate inflation rate accordingly and boost consumer spending.

Speaking on the matter, prof. Akpan Ekpo, the Director General of the West African Institute for Financial and Economic Management said the government need to embark on structural economic reform to negate some of the challenges facing the nation.

“Our economy only consumes, we do not produce anything that brings foreign exchange. So, what you do is that you direct policies that would encourage people to encourage and manufacture, no matter how little, something that would add value, before you export. What we need now are structural policies. What we have seen is that the central bank has been doing a lot of what it ought not to be doing. The central bank is pushing out a lot of intervention funds. A lot of times, their intervention funds have fiscal coloration. And that is not supposed to be their business.

“So for me, recessions are recurrent in the market system. It comes and goes, but it gives you an opportunity to make sure that you manage the economy properly. No two recessions are alike. Also, they need experts to help them manage the economy. It is not a tea party.

“They need technocrats to advise them. And in our system, no government has a long-run luxury. Every government has four years, so they have to move fast. My worry for Nigeria is more than the economic recession. Let me ask you as question. If for example, the next quarter Gross Domestic Product (GDP) growth becomes positive marginally, that means the economy may be out of recession. But has the problem of unemployment been solved? Has that solved the problem of inflation? Has that solved the poverty problem? It has not! So, we need to carry out long-term structural reforms and be serious about what we are doing,” Ekpo stressed.

http://investorsking.com/consumer-prices-nigeria-rise-92-2016/

Nigeria Consumers are docile and ineffective, in other climes prices would have fall with people's apathy to high price

Suprnov3r:
Soon the paid trolls of Apc will arrive to spew their ignorant trash on how their god, buhari is so wise and perfect.

The height of zombie-ism displayed by the likes of sarki is nauseating

You will never see sarrki and co here, never

qleap2all:
Nigeria Consumers are docile and ineffective, in other climes prices would have fall with people's apathy to high price

Apathy to limited necessities? That method is applicable to only demand pull inflation and not cost push.

madridguy:
Sai Baba need to reshuffle his economic recovery team. We need capable team as things is getting out of hand.

So it's now you people realize things are getting out of hand? Anyway, that's a first step.

EzeNri:
A zombie will alwz show im self. Do u really knw what inflation is? Do u really knw how a production company works? Have u ever heard of factor prices? What of how prices are determined? Enter Economics class u no gree. Abeg evri bodi no bi zombie.

Name the number one advantage of inflation and explain how this an advantage... Lets see who actually entered economics class

MrPresident1:
Luke 21:25
25 And there shall be signs in the sun, and in the moon, and in the stars; and upon the earth distress of nations, with perplexity; the sea and the waves roaring;

Nigeria's economic troubles is a sign of end times and the coming of Jesus.

Jesus will come on or before the 20th of January 2017. Please let us all be sober and watchful

because of the trump prophecy right?

mrvitalis:
Name the number one advantage of inflation and explain how this an advantage... Lets see who actually entered economics class

If you are talking abt Philip's Curve, sorry you are on a long thing. This is because this only happens in the SR, but in the LR when the economy starts adjusting fully to the inflationary pressure more jobs will be lost than created in the SR.

If you are talking abt debtors being advantaged as a result of much money in circulation, increase in wages, value of stocks, money deposited in the bank, sorry, you are also on a long thing. We are not only suffering from inflation, but also deep into recession and uncertainty in the FX market. There is no money or FX to make this inflation advantageous to any section.

If you are thinking higher prices translate to higher profits, sorry again, inflation pushes factor prices up as well (cost of production) and this will push selling price up and a rational firm will want to maintain a relatively stable price, so as not to lose customers (as a result of higher price), they will absorb some of the costs. To remain competitive in the mkt, they will cut wages, retrench nd cut down on production and in xtreme, suspend production.

Inflation creates uncertainty in the system and planning in an environment of uncertainty is an exercise in futility.

How do u intend to benefit with ur garri processing in this inflation?

mayberry1:
Whatever happened to having an agency that sees to the regulation of prices of commodities in the market, this would go a long way in cutting the excesses of greedy marketers.

You will destroy the economy that way. That is why the market forces are allowed to determine prices.

The market is only doing its best to find a balance bw buyers and sellers, should u disrupt that, there will be problem. The only way is to put measures that will bring down inflation, stabilize FX and bring back confidence in the system.

It beats my imagination to see the victims of this government's failure blindly support the same government that has impoverished them

qleap2all:
Nigeria Consumers are docile and ineffective, in other climes prices would have fall with people's apathy to high price

Yes, that is, if there is money to increase production (supply). We are also in recession. This is not a demand pulled inflation as a shrink in our GDP suggests. Blame uncertainty in the external sector, TSA and certain utterances which created panic in the capital Market which caused foreign investors to flee shortly after May 29th.

redcliff:
because of the trump prophecy right?

My brother please enlighten me on the Trump prophecy

DavidEsq:
See Buhari-induced dementia. Buhari see wat haf cause now. Bro, abeg....

My brother, you better be watchful and prayerful all this you big big grammar na inside your pocket you dey blow am

MrPresident1:
My brother, you better be watchful and prayerful all this you big big grammar na inside your pocket you dey blow am

Don't go an plant ugu and cassava to sell and survive o. Dey dere dey watch and pray.

DavidEsq:
Don't go an plant ugu and cassava to sell and survive o. Dey dere dey watch and pray.

My brother, I will plant yam too

elneyo:
[color=#770077][/color]

Ah mean am o