So the argument that local production and competition will drive down prices does not really hold in Nigeria. I think you mentioned one time that of the so called competition in the telecoms industry, their prices for voice and data are really not that different from each other.

Nigerian economics are not solvable with MIT and Cambridge solutions, only customized solutions can work like what Soludo did with the consolidation formula of Nigerian banks many years ago. Not many young people know that not too long ago, one bank owner could just literary make his bank bankrupt and take all the funds for himself.

We are a perculiar people, foreign solutions without factoring in the people involved cannot work here and this is a fact.

ahiboilandgas:
oligopoly.....3 cement cabal selling over 1.5 trillion yearly

Theconglomerate:
I know you don't have enough brainpower to answer the things I asked you so I honestly wasn't expecting a reply.
I am shocked to even see a quote from you,even though it was quite empty but you did what your fragile brain could do anyway.
You can't give what you don't have.

Listen up child.

Mr tomato seller, if the price of tomatoes goes down via devaluation, will that incentivise you to produce more?

Think!


Now let's say you decide to produce more being a dullard, at what cost?

To increase production you might need heavy duty machinery which is now more expensive because the currency is devalued.


I don't have to answer your questions because it's fraught with idiocy..

You probably won't understand my answer because you're a buffoon who thinks he's smart.

ojesymsym:
Sir, I did factor it in. Like I mentioned to one of my friend who raised same objection. 30M will still be a lot of money even in 30 years time. It may not just have the same value as we have not.

Don't also forget the amount we are talking about here just 10k leading to 30m and as to it being invested, we already mentioned 10% per annum.
Don't forget as time go on, even the 10k will look too small and the person may decide to increase it if their condition of living improves.
Even business people can decide to also do somethng like this on the side as a retirement plan.

The right question will be how much value did 10,000 naira hold 30 years ago(1990) and how much value does it hold now. When you figure this out then you would know if you are right or wrong.

Nothing to figure out bros. Nobody is bound to follow through with this analysis, each man is free to do what he likes.
I only put that out there for someone who may think it useful not to go back and forth with anyone.

AnthonyAnderson:


The right question will be how much value did 10,000 naira hold 30 years ago(1990) and how much value does it hold now. When you figure this out then you would know if you are right or wrong.

Focusingmore:


Listen up child.

Mr tomato seller, if the price of tomatoes goes down via devaluation, will that incentivise you to produce more?

Think!


Now let's say you decide to produce more being a dullard, at what cost?

To increase production you might need heavy duty machinery which is now more expensive because the currency is devalued.


I don't have to answer your questions because it's fraught with idiocy..

You probably won't understand my answer because you're a buffoon who thinks he's smart.

How will the price of tomato go down via devaluation?Is it not suppose to go up instead?
If it is imported,when you devalue its price goes up.
If it is produced locally,it price will still go up too but slightly or a negligible increase compared to its imported counterpart.
So you see you even gave a wrong answer and a very stupid example.

Secondly dumbfùck,machinery are one off investments,industries don't buy machineries everyday so devaluation has never stopped any serious person from buying machinery because when he buys one today,he might be buying another in 5 years.so why should that bother the person?
What you might say is imported raw material will be more expensive to import,but they'll make cover for it by completing the production process in naira bases.
So what stops them from getting extra funds and buying 5he machine knowing that they will make the borrowed money in a jiffy as a result of demand for cheaper alternative.
Bros leave matters,you no get sense.

ojesymsym:
So the argument that local production and competition will drive down prices does not really hold in Nigeria. I think you mentioned one time that of the so called competition in the telecoms industry, their prices for voice and data are really not that different from each other.

Nigerian economics are not solvable with MIT and Cambridge solutions, only customized solutions can work like what Soludo did with the consolidation formula of Nigerian banks many years ago. Not many young people know that not too long ago, one bank owner could just literary make his bank bankrupt and take all the funds for himself.

We are a perculiar people, foreign solutions without factoring in the people involved cannot work here and this is a fact.

..a small basket of irish patatos is around 1200...then suddenly Islamic fasting start price jumps to 3000 ...not because of demand and outpace supply nooo....i was with the union chairman of perishable markets and he explain to me how they spike up prices ...all trucks coming from jos to the state is only allowed to discharge in that market ...so the products owners are not allow to retail to the end users but through a complex chain run by the union ..so they discharge only 1 truck daily will over 30 trucks filled with irish patatos are awating ....the hike prices (200 percents) sell to desperate customers ,maintain daily price stabilty all through the fasting period.....this a local cartel ...

Theconglomerate:
How will the price of tomato go down via devaluation?Is it not suppose to go up instead?
If it is imported,when you devalue its price goes up.
If it is produced locally,it price will still go up too but slightly or a negligible increase compared to its imported counterpart.
So you see you even gave a wrong answer and a very stupid example.

Secondly dumbfùck,machinery are one off investments,industries don't buy machineries everyday so devaluation has never stopped any serious person from buying machinery because when he buys one today,he might be buying another in 5 years.so why should that bother the person?
What you might say is imported raw material will be more expensive to import,but they'll make cover for it by completing the production process in naira bases.
So what stops them from getting extra funds and buying 5he machine knowing that they will make the borrowed money in a jiffy as a result of demand for cheaper alternative.
Bros leave matters,you no get sense.

says who ....naira was devalued tailand rice jumped from 7500 to 30k while local rice jump from 5k to almost 20k ....are u in Nigeria

You can imagine...
If someone does not know some of these challenges, you will just sit down in your Geneva Ova office and think that the solution to the problem is to increase the number of farms without knowing that the scarcity is an artificial one.
Harvard Textbook solution different from real life solution abeg.

ahiboilandgas:
..a small basket of irish patatos is around 1200...then suddenly Islamic fasting start price jumps to 3000 ...not because of demand and outpace supply nooo....i was with the union chairman of perishable markets and he explain to me how they spike up prices ...all trucks coming from jos to the state is only allowed to discharge in that market ...so the products owners are not allow to retail to the end users but through a complex chain run by the union ..so they discharge only 1 truck daily will over 30 trucks filled with irish patatos are awating ....the hike prices (200 percents) sell to desperate customers ,maintain daily price stabilty all through the fasting period.....this a local cartel ...

ahiboilandgas:
says who ....naira was devalued tailand rice jumped from 7500 to 30k while local rice jump from 5k to almost 20k ....are u in Nigeria

What year of devaluation did this happen?

ojesymsym:
You can imagine...
If someone does not know some of these challenges, you will just sit down in your Geneva Ova office and think that the solution to the problem is to increase the number of farms without knowing that the scarcity is an artificial one.
Harvard Textbook solution different from real life solution abeg.

the union chairman of this particular markets brought a filling station from rackets last time ...meanwhile the rural farmer in jos is poor while the union executive that have never been to the farm ..are busy building houses ....cos they SELL TO THE RICH....without been in the farms

Theconglomerate:
How will the price of tomato go down via devaluation?Is it not suppose to go up instead?
If it is imported,when you devalue its price goes up.
If it is produced locally,it price will still go up too but slightly or a negligible increase compared to its imported counterpart.
So you see you even gave a wrong answer and a very stupid example.

Secondly dumbfùck,machinery are one off investments,industries don't buy machineries everyday.
So what stops them from getting extra funds and buying 5he machine knowing that they will make the borrowed money in a jiffy as a result of demand for cheaper alternative.
Bros leave matters,you no get sense.

You clearly can't read.

Hint. Relate it to import and exports.

Interpretation is key.

You have an agbero mentality. Not worth my time .

Theconglomerate:
What year of devaluation did this happen?

2016 na ....u are more of theory your proposal are like academic thesis to me .....not reality....

Lol.... As soon as I saw this I knew you don enter conglomenrate trap and true to type he asked the very question I knew he would ask

ahiboilandgas:
says who ....naira was devalued tailand rice jumped from 7500 to 30k while local rice jump from 5k to almost 20k ....are u in Nigeria

For the records, it was not devaluation that pushed the price of rice up.

Theconglomerate:
What year of devaluation did this happen?

I do pity farmers a lot, I wish there was a system in place for them to also earn some form of pension at the end of their farming years. Like a contributory pension fund where whatever amount they put in government adds the same amount, that hopefully will encourage them to save for the future and make their last days a lot easier when the strength to lift their cutlass is no longer there.

ahiboilandgas:
the union chairman of this particular markets brought a filling station from rackets last time ...meanwhile the rural farmer in jos is poor while the union executive that have never been to the farm ..are busy building houses ....cos they SELL TO THE RICH....without been in the farms

ahiboilandgas:
..a small basket of irish patatos is around 1200...then suddenly Islamic fasting start price jumps to 3000 ...not because of demand and outpace supply nooo....i was with the union chairman of perishable markets and he explain to me how they spike up prices ...all trucks coming from jos to the state is only allowed to discharge in that market ...so the products owners are not allow to retail to the end users but through a complex chain run by the union ..so they discharge only 1 truck daily will over 30 trucks filled with irish patatos are awating ....the hike prices (200 percents) sell to desperate customers ,maintain daily price stabilty all through the fasting period.....this a local cartel ...

That chairman is a liar.
Who will have his truck of perishable goods such as irish potato stand in line to wait for you in the market in a queue because you are doing cartel nonsense,especially in high demand season such as fasting?
Cartels will purchase all the products and hoard it,not instruct middlemen to wait.
Irish potato is very movable and must not be sold in a market,especially during fasting when people are looking for it.
So what stops a middleman to move his truck from union controlled market to a good corner and start selling from the truck?
In my time as an importer,I use to bring apples and grapes from France,egypt(grape) and SA to sell in Ikeja Arena market.
During fasting,apple becomes very scarce because muslims worldwide rush it and products get scarce from the source.
When product leave Apapa to Arena,in that traffic from Oshodi clients start buying apple in traffic and trans load to small buses.
Before truck reach Arena goods don finish,all paid cash.
So how does union cartel stop control this,especially for desperate periods as fasting?

ojesymsym:
Lol.... As soon as I saw this I knew you don enter conglomenrate trap and true to type he asked the very question I knew he would ask

For the records, it was not devaluation that pushed the price of rice up.

why wont it ....u dont import rice with naira from thailand but dollars so foe it to move from 200 to 520...price must change....Nb rice through port was and is not banned...superggeti was 120 per pack b4 devalutions now 240 ..

Focusingmore:


You clearly can't read.

Hint. Relate it to import and exports.

Interpretation is key.

You have an agbero mentality. Not worth my time .

How do I interpret nonsense for God's sake.
You should face your asylum quietly,you clearly have no brains.

I am preempting conglomenrate, he will tell you that the movement of price of the dollar from 200 to 520 was not as a result of devaluation but scarcity of the dollar, I think that is the point he is trying to make. He wants government to hands off USD totally like subsidy removal.

Rice increase was mostly because they asked importers to always use the port and stop the cotonou route.

ahiboilandgas:
why wont it ....u dont import rice with naira from thailand but dollars so foe it to move from 200 to 520...price must change....Nb rice through port was and is not banned...superggeti was 120 per pack b4 devalutions now 240 ..

Theconglomerate:
That chairman is a liar.
Who will have his truck of perishable goods such as irish potato stand in line to wait for you in the market in a queue because you are doing cartel nonsense,especially in high demand season such as fasting?
Cartels will purchase all the products and hoard it,not instruct middlemen to wait.
Irish potato is very movable and must not be sold in a market,especially during fasting when people are looking for it.
So what stops a middleman to move his truck from union controlled market to a good corner and start selling from the truck?
In my time as an importer,I use to bring apples and grapes from France,egypt(grape) and SA to sell in Ikeja Arena market.
During fasting,apple becomes very scarce because muslims worldwide rush it and products get scarce from the source.
When product leave Apapa to Arena,in that traffic from Oshodi clients start buying apple in traffic and trans load to small buses.
Before truck reach Arena goods don finish,all paid cash.
So how does union cartel stop control this,especially for desperate periods as fasting?

i know get strengths to type ...u dont know the state or markets...and i will not tell u...really people buy thing on truck in Lagos from Apapa to oshodi ....how old are u ? ...i been around those location for 14 years....u must be a clown ...even plantain cartels in boundary markets olodi apapa will not allow truck discharge....only via market union arrangmeents

ahiboilandgas:
2016 na ....u are more of theory your proposal are like academic thesis to me .....not reality....

Local produce definitely will be expensive too because of devaluation because the people producing locally need to also buy imported things so they raise their price.
The issue is the degree of inflation.
Now in 2016,foreign,smuggled rice rose to 33k a bag whereas local was 15k,I don't know where you got 20k from and people were switching to it upon stones.
2016 was the reason why Nigerians got a taste of local rice and know it is good too and today see where we are.
By your own example,you clearly see the difference between local and imported during devaluation.
So if you were on minimum wage,what rice will you buy?20k or 33k?
I have been in international trade worldwide long enough to school a lot of you on the benefits of devaluation.

Theconglomerate:
Local produce definitely will be expensive too because of devaluation because the people producing locally need to also buy imported things so they raise their price.
The issue is the degree of inflation.
Now in 2016,foreign,smuggled rice rose to 33k a bag whereas local was 15k,I don't know where you got 20k from and people were switching to it upon stones.
2016 was the reason why Nigerians got a taste of local rice and know it is good too and today see where we are.
By your own example,you clearly see the difference between local and imported during devaluation.
So if you were on minimum wage,what rice will you buy?20k or 33k?
I have been in international trade worldwide long enough to school a lot of you on the benefits of devaluation.

school un false imaginative non working theories ....am old enough to give practical example of terrible effect of devaluations....u are baby that why u know only foriegn rice which started in the early 1990....if u dont know rice was not eating daily in Nigeria in 70 and 80 ...only during patties and sundays ...in those day it mainly local rice in Nigeria and uncle ben rice ...

ahiboilandgas:
i know get strengths to type ...u dont know the state or markets...and i will not tell u...really people buy thing on truck in Lagos from Apapa to oshodi ....how old are u ? ...i been around those location for 14 years....u must be a clown ...even plantain cartels in boundary markets olodi apapa will not allow truck discharge....only via market union arrangmeents

Who told you this one?
If truck dey come from Apapa and I align with my clients and branch to sell to them inside Ajao estate,I'm sure the union chairman will consult the oracles to know what I am doing at ajao right?
You think I will come and stand in front of the market and start offloading where they'll see me?
You really don't have to tell me about markets because apparently I know more than you on it.

Men, na true o. I think foreign rice actually became popular in 1998/99 after that minimum wage increment. Like you said it was mostly local rice and Uncle Bens Rice

ahiboilandgas:
school un false imaginative non working theories ....am old enough to give practical example of terrible effect of devaluations....u are baby that why u know only foriegn rice which started in the early 1990....if u dont know rice was not eating daily in Nigeria in 70 and 80 ...only during patties and sundays ...in those day it mainly local rice in Nigeria and uncle ben rice ...

Theconglomerate:
How do I interpret nonsense for God's sake.
You should face your asylum quietly,you clearly have no brains.

Ok slowspoke , if fx becomes 700/1 dollar
, will the price of tomatoes not become cheaper in naira relative to dollars?

Can you see how your replies are daft.

Theconglomerate:
Who told you this one?
If truck dey come from Apapa and I align with my clients and branch to sell to them inside Ajao estate,I'm sure the union chairman will consult the oracles to know what I am doing at ajao right?
You think I will come and stand in front of the market and start offloading where they'll see me?
You really don't have to tell me about markets because apparently I know more than you on it.

i now know u dont have any idea about Lagos ..branch ko ...fly ni....if u like carry trailer of tomatos pass mile 12 and branch parkveiw estates Osborne....and sell there ....better stop embarrasing urself ....

ahiboilandgas:
school un false imaginative non working theories ....am old enough to give practical example of terrible effect of devaluations....u are baby that why u know only foriegn rice which started in the early 1990....if u dont know rice was not eating daily in Nigeria in 70 and 80 ...only during patties and sundays ...in those day it mainly local rice in Nigeria and uncle ben rice ...

Devaluation will increase shelf prices,but atleast we will own the industries,the jobs and the distribution.
I know a lot of people today who are naira billionaires because of golden penny distributorship that are developing their various places and giving jobs to people.
So enough of all your artificial naira strength stories.

ojesymsym:
Men, na true o. I think foreign rice actually became popular in 1998/99 after that minimum wage increment. Like you said it was mostly local rice and Uncle Bens Rice

leave that indomie people ....they didnt know why rice became party food in Nigeria ....

Reading through these nuggets of wisdom are so beautiful, but having to sift through the insults, makes it counterintuitive. Men and women, all of your opinions are worthy of note, but the name-calling can do no good whatsoever. So please, elders and youngsters, continue to share your wealth of knowledge with us, but quit the insults. Good evening.

ahiboilandgas:
i now know u dont have any idea about Lagos ..branch ko ...fly ni....if u like carry trailer of tomatos pass mile 12 and branch parkveiw estates Osborne....and sell there ....better stop embarrasing urself ....

What will happen?
You and who dey talk about tomatoes?
I say Apple inside reefer containers.
So the market union are now working with Nigeria customs and port authority to give them info on the content of every container weh dey commot apapa right?

Focusingmore:


Ok slowspoke , if fx becomes 700/1 dollar
, will the price of tomatoes not become cheaper in naira relative to dollars?

Can you see how your replies are daft.

It will become cheaper for anyone holding dollars that want to buy Nigeria tomatoes.
So how is this bad for a person growing tomato in Nigeria that will make more sales because of more patronage from foreign clients?
What's your point?

Theconglomerate:
Local produce definitely will be expensive too because of devaluation because the people producing locally need to also buy imported things so they raise their price.
The issue is the degree of inflation.
Now in 2016,foreign,smuggled rice rose to 33k a bag whereas local was 15k,I don't know where you got 20k from and people were switching to it upon stones.
2016 was the reason why Nigerians got a taste of local rice and know it is good too and today see where we are.
By your own example,you clearly see the difference between local and imported during devaluation.
So if you were on minimum wage,what rice will you buy?20k or 33k?
I have been in international trade worldwide long enough to school a lot of you on the benefits of devaluation.

i said u be false theory guy...u dont rice is sold in cups in Nigeria ..a man on 33 k will buy 3 cups for 600 naira and manage ....how many Nigerians dey buy bags ....that why firms are producing sachet milk ,toothpaste etc to target this group of low income earners

ahiboilandgas:
i said u be false theory guy...u dont rice is sold in cups in Nigeria ..a man on 33 k will buy 3 cups for 600 naira and manage ....how many Nigerians dey buy bags ....that why firms are producing sachet milk ,toothpaste etc to target this group of low income earners

He will buy in cups if he will even see the cups to buy.
Retailers are driven by profits,not emotions.
90% of retailers will buy 15k local rice to retail than to buy 33k foreign rice to retail because they will make more profits on the local one of 15k.
Retailers will go to market and buy the cheap one to sell because of the margin they will make,not caring which is imported or not.
If 90% of petty traders are buying the cheaper one to retail,where will the poor masses now see the foreign one to buy in cups when it is barely available in the market?
Is it not what you see that you will buy?
You see say you are the one saying what you don't know now na.
It is better to keep shut and listen and learn from trade expert than argue what you don't know.