SoNature:


No, it's not the same thing. If he sells below the current selling price (from his source), he will practically run out of business because he won't have enough money to restock

Sellers sell to buyers and restock later. You can only sell something below its selling price if you don't wish to return to business again.

Really! Evidently there are many cash and carry. Container businessmen in Nigeria

I can opt to sell goods I have on hand which I purchased at an earlier date at a lower price at a "discount"

It may be a discounted rate to the buyer but I may be able to cover my cost from the transaction or break even when I include my overheads or just to stop the loss from holding dead weight.

Holding onto stock is itself a loss because you have limited storage capacity. This is why the Asians make much better business people they understand trade and stock management.

The nature of business is a risk and that must be given due consideration when securing funds, loans, planning bulk purchases and marketing the product.

This is what is called truly knowing your market. That seller is better off selling at 160k than sitting on those doors for another 1 week waiting for another 40k profit to balance restock. There is an overhead cost to keeper dead weight stock.

Before you say nonsense I worked in major consumer electronics retail for an European chain around 2010 we were doing 500k daily, on boxing day Xmas period 2M was normal , I was close to the regional manager nice British bloke and he schooled a few of us on basic stock management and planning.

He would wake up one morning look at a few items left-over from a large shipment that have been sitting for 1 month eg 10 TVs left from a shipment of 600, he'll look at the costs, some overheads and apply a stockroom premium let's say 2cents per day since it's been dead weight and we'll throw them on a discount pile and clear space for more items inbound. Because truly it cost money to keep those items and usually that discount pile would be gone in less than 4hours, a real consumer economy is one that understand impulse purchases and how humans reason when rationalising a purchase

Walmart , Tesco Eurogint, lidl aldi, Asda etc are not daft when they plan reduced prices. The decisions are tactical and not arbitrary and increase in prices are neither too

Daystar7:
The comments here clearly shows that Seun is breeding kids and illiterates on this forum.
This is business. I'm not in business to loose. If my distro calls me to inform me about the hike in price of my consignment,what I'll do is to break it into the ones I have already in stock so I'll have the capital to get new consignment. The profits from the previous consignment has vanished with the hike so what do you expect I do? Some people in business get consignments from their distro on credit esp those that deal on imported consignments. Do you know how many importers Tinubu ruined their lives in the space of 6 months? Imagine running loss on a consignment you got on credit, how do you go about it? Loan is suicidal esp with hike in interest rate.
Una just funny, now if the man has paid already and has collected receipts then I don't and won't consider it my goods anymore but his but if he made part payment then it's still mine and he'll have to either pay or ask for a refund and take his business elsewhere.
I did tomato and Onion business during my youth service and that business is one of the most riskiest business ever. The price fluctuates in hrs, it can make you an overnight success or failure and nobody cares. Business is business. If he's got receipt of his purchase let him go to the nearest police station and it will be resolved but if not he should kindly pay up or ask for a refund and take his business elsewhere

Even if he made a part payment if you have issued a receipt stating the total price to be paid, the deposit paid and the balance to be collected the deal is done, the transaction is sealed and can only be renegotiated with the consent of all parties.

OlujobaSamuel:

I have a buyer, anytime I see him, I know there is hike in price, even if he already pays and I'm not aware, immediately I know he is the one, I will tell my salesgirl to tell him to pay the new price or he gets his fund back.
The seller's profit might just be 100k from that 400k, so he should use his personal fund or borrowing to fill the shortage.
In business, no one comes back to thank you for selling it cheap

It's because that buyer is ignorant, you try that with me you'll be seeing the four walls of a jail

Omoapena:
Reasoning from seller perspective, after receiving money for the goods, he might have placed a call to his own supplier/source and he probably got information from his supplier/source that price of the goods have gone up, with the increment in the price of the goods, he won't be able to restock and thereby leading to total loss for him..

That's why in business, it's very good to be updated about price before selling.



Reasoning from buyer perspective,if he has been issued receipt for the goods, then, he has right to receive the goods but if not, he should just get refund and walk away...

The buyer doesn't need to be issued a receipt for the transaction to be completed, the transfer of funds is enough. Howeve a receipt is proof of transaction and in a legal matter settles the conflict in the favour of the buyer.

OlujobaSamuel:

One or both of Dem be thief.
Some buyers will go about asking price finding out if there is a seller still ignorant of the current price, when they found one, they won't just buy little, they will mop up the stock because they found it cheaper, if seller should get the current price while he is still having control over the goods, he will use that to hold the buyer to ransom
Those saying he has the stock on ground before, if he is selling for 100k and it's now 120k, where will he get the additional 20k from, not to talk of his markup so he can get profit.
Late last year to early this year, price of poultry feeds was just flying anyhow, morning price is different from evening price, I was selling a bag with 200 margin, it got to a point, I was borrowing to restock, I had to increase my margin to 600, that way I still get my 200 on each bag, why the 400 cater for the new price as it increases by 300 everytime

His markup should be on the restocked items not the ones he himself bought at a lower price.

Your argument is daft at best, imagine you receive a contract to supply 20 bags of feed and you agree the price and you receive the funds and invoice the transaction, only to then tell the buyer the next day when the goods are to be collected that the price has gone up since yesterday and so he should add money to collect the goods you are infact commuting a crime of theft.

ify2016:
High time government start arresting all this guys.
Some Nigerians are naturally wicked.
People are just increasing prices of things anyhow without regulation.

Serious sanction should be imposed on any business man or woman causing more hardship to the citizens

It's the duty if the consumer protection agency. They need to wake up

starpower:
Have seen this happened in my office multiple times, times are really hard for retailers as that 400k might be profit on 30pcs gone like that.

The trader should have applied all this to the transaction before receiving funds. If I an the buyer I'll simply take him to court win the case and demand for reimbursement of my legal fees.

wisestman:

The seller probably got a better offer while the buyer was away. He just wants the buyer to either pay or ask for a refund if the new price is not okay with him. I don't see any wrong doing. Buyer should ask for a refund if not happy

The seller doesn't own the items anymore an exchange has been made the transaction is settled once he received the funds asked for.

Justiceleague1:
U have ya receipt abi? Carry your property and go,simple

Exactly, once an exchange has been made and a receipt available the doors don't belong to the seller anymore.

Jeon:


Rape is rape, be it gang or single raped in a private area. Or its been done by a single man.

So there is no different between Indian and Nigerian rapists.

You can get robbed in your house with the criminals applying caution or you can get assaulter and robbed while sitting in traffic. Do tell which would be give you pause about how you live your life. A situation where a woman can't have confidence of traveling from work to home etc without the worry of being sexually assaulted is a very serious societal issue that should give one pause.

Do you understand the severity of the matte , an individual has been casually assaulted and raped in public without any fear of consequence by the perpetrators.

Johnjustice:

Not negotiate with them, give security agents information, don't welcome them in your midst, expose them, use your men to target them, rather than giving them honors and regards, all because of the religious affinity. The people, Northern oligarchy, and politicians, have not yet decided to rid themselves from the bandits and terrorists.

You think villagers in Katsina and Zamfara are sheltering kidnappers and bandits willingly and refusing to give information to the army.

What sort of delusion or ignorance is this that has befallen you.

Banditry is a profitable business now in Nigeria because we have succumbed into paying kidnappers a kingly ransom and have not visited them with the correct amount of violence they deserve.

Northern oligarchs and elites are themselves victims no different to any other part of Nigeria where crime has become entrenched.

Do we use same rational for the SS and militancy, because there we have communities who have not done enough, their sons are either pirates , involved in oil bunkering, illegal refinery. They've driven away business, contaminated their rivers and rendered their region into poverty and underdevelopment, in fact the SS is by far the least developed section of Nigeria and by percentile the least educated.


Or do we adapt your rational to the SE and ESN, we've seen people hail the ESN convoys as they drive past major towns on the way to their murderous adventures. Yet we are made to believe the people are victims.

It's the duty of the government to apply violence to unrepentant terrorist wherever they may find them and in whatever way they present themselves and also bring justice and fury to deter other from contemplating such.

The issue of banditry was born from the response of the previous governments to militancy, everyone is just stepping up to collect their portion of the national cake and some have opted to use violence to get to tye front of the line.

It's time that government serve naughty children in the language their understand.

May God save Nigeria.

omniwater:


You are right sir!
But the driver failed to use the brakes.

Using the brakes would have save the trouble he got himself into and that dead boy would still be alive.

Do you drive a motor vehicle sir, I always pray to God that I don't come across an unfortunate pedestrian or cyclist.

Some months back this stupid boy saw me coming down the road and I saw him, he didn't have right of way he was attempting to cycle past the main road from standstill and as soon as I was within a few feet of him he started his poorly considered push and I had to jam on the brakes and turn the car away as I came to a halt within a few inches of him, I thought I was about to hit him but thank God because no matter what no one would give enough consideration to the driver.

There are pedestrian crossing and cycle lanes for a good reason people should learn to use them, I cycle as well and I give motorists the respect they deserve.

Abagworo:


None of them suggested absolute floating of Naira.

Stop this nonsense of "absolutely float the Naira" or absolutely remove subsidy.

These are difficult decisions and I'm glad Tinubu had the strength of will to do what was a necessary decision.

All the three major candidates agreed that a parallel FX market and the act of defending the Naira with borrowings was not proper and it was only kicking the can down the road.

What the CBN and FG have done is to let the market determine the value of the Naira, what they need to do as regulators is to with the EFCC and other law enforcement agencies go after rampant speculators.

It's only in Nigeria that speculators go unchecked, try that in USA and you might be looking at a long jail term. Financial crimes of that nature are frowned at and rightly so.

It's time that CBN continue to implement conventional monetary policies that guarantee the confidence of our currency while the FG need to cut cost all these jamboree flights to Qatar has to stop, the reckless spending of the legislative has to be curtailed.
The only big items in the budget across board should be infrastructure development, healthcare and education. Should be wage cuts across board for all political appointees.

That is the least Nigerians should seek

ImmaculateJOE:

PO was specially invited by the celebrant, you can see it from the settings arrangement.

He's OBJs newest pawn so yes he was definitely invited.

omniwater:
There is a pedestrian bridge at Palm grove bus stop,which the victims failed to use.


The stupid cow of a mother tried to cross the highway with two toddlers who could barely walk.


But the blame would still go to the reckless driver who failed to drive properly.

If he's on the brt lane and driving at or below the speed limit with caution he can not be accused of driving recklessly.

No one should be crossing the road with kids. Not one but two toddlers how daft can you be

Namaster:
Rubbish dressed in jargons is still RUBBISH!

He trained his bandit-identifying ai with AI generated images and says he has a solution. MAD man!

The guy is trying to scam investors.

Some of this "tech bros" need to be jailed.

Stop the nonsense, you're only saying this because he's not from your region.

The NAF have been deploying drones lately in their fight against insurgency and one of tye major issues is the amount of square kilometres they have to cover while doing recon, if they can integrate AI into the imaging system they can deploy a recon drone which can linger for long periods over a large area they can even start to look into autonomous drones which they can plan a large coverage and rely on increasingly accurate detection.

Because any human can easily miss a small indicator if he/she is staring at not much after 5-6 hours.

ZaRuleOfLaw:


Mr. Yunusa Jibrin, the terrorists aren't anonymous. That's why two army chief of staff (azazi & the other guy) were killed via air crash & nobody was held accountable. APC will do their best to kill you if this terrorism business is casted.

Azazi died in an helicopter crash returning from somewhere in the SS. He wasn't the only person of note within there was also a governor.

Azazi had his enemies whi would have lost no sleep on hearing he died, but terrorists are way down on that list his political enemies many from his state and region are top on the list

Johnjustice:
Hausaa and fulanis in the north need to decide that they want an end to banditry...these bandits live among you.

You mean the same ones I'm Katsina and Zamfara that have been killed in their thousands over the last few years. Just a few days ago we heard reports three major villages were sacked in Katsina. Zamfara is an almost lost cause.

But alas you still insist the victims must negotiate with the criminals to end their suffering. Rather absurd

The FG and the security apparatus of state and judicial system must wake up to it's responsibilities to secure the citizens as the constitution requires only then can they ask the victims to contribute as per the civic duty

Jeon:

Ehn, look at the hypocrites commenting.
As if Nigerian Men are way better than Indian Men.

Women don't get gang raped in public as it happens in India. Surely 90 gang rape cases don't occur casually in Nigeria as we have in India.

Women are assaulted and raped so casually in India, mobs of men just swamp a woman rape her and walk away like it's nothing.

It's a serious societal issue

Lumarstone:
This bill will not see light of the day.

The basic premise of the freedom to vote abd be voted for would expel nonsense bill quickly

Parrot69:
Someone should tag those Ghana bloggers.
Later they will say they are not gaining anything from Nigeria.
Ordinary crude oil, their government cannot buy. Since they've removed subsidy, they have resolved to stealing. Including Cameroun and Benin.

Petrol is now 2000 naira in Ghana, everyone of them along the western coast was enjoying subsided Nigerian PMS.

socialmediaman:


So in summary, FG pushed out some propaganda, you believed it, then you're explaining it to others, after having done zero research on the topic?

What are you going to do next? Call Obidients names because you have been told to?

Are you done foaming at the mouth like a rabid dog. What propaganda did the FG push that I'm extending. Was it not The Guardian which reported this arrest, it wasn't even the FG which made it public.

Obidients can try inject themselves into all conversations but this one has nothing to do with their deranged postulations.

I've been very clear many don't even understand the role of speculation on the FX in Nigeria. Beyond fiscal & monetary politicies of FG and CBN there is a less understood issue of Insidious demand for dollar it's become a second means of payment if that doesn't bother folls like yourself then I don't know what will.

Xscape1993:
He has conscience. He does not want to associate with agberos, touts, certificate forgers, drug masters, killers, terrorist sponsors, kidnappers and evil party.

It's nothing to do with conscience but why would he take what is a pay cut to come work for CBN. Given he can loose that job if the president wakes up on the wrong side of the bed one morning.

It's also a thankless job, where everyone suspects you of being corrupt and you'll get hassled endlessly by politicians and the influential who want a favour or two.

Pizza. Never quite got it

socialmediaman:


Is it the same Binance that warned its investors about money laundering investigations, and pled guilty to money laundering charges? Or there's another secret Binance you know that we don't?

Didn't know they've gone that far. I've always stayed away from crypto conversations. You mention crypto around me and you loose me. It's just like another pyramid scheme to me.

And many of the adherents don't even understand basics of economic and tade.

I have experience trading Fx which I've left behind it's juts not worth the effort I just focus on the legacy stuff stocks and bonds now, an European friends tried to introduce me to bitcoin in 2011 when it was popular on 4chan anr all these dark web sites for purchasing prescriptions medicine, maryJ, valium etcc online, and my opinion of it has been formed since then as only useful for illicit trade wven when it was 60k that never changed.

OVB123:
Please board the next available flight to Nigeria. I can see your village people has reason your matter.

It's nothing to do with relocate back to Nigeria, but it is ridiculous the cost of living in Canada. I mean if you are putting more than 50% of your wages into accommodation you are statistically poor. I was in Philadelphia last year and I found the cost of food to be ridiculously high. A bag of doritos which would be £1.50 max here was like $4, milk eggs the basic stuff I found to be relatively expensive I couldn't get my head around it. And the quality wasn't better I'd say it was worse.

We have friends in Canada and I've been told it's just crazy and the wages are not particularly more than you'd see in Europe.

If you want to japa pls do if you have a proper plan but don't have it in mind it would be easier than Nigeria because for many people it really ain't, it's frustrating, tough and can be outright impossible for many new arrivals I've come across. Having someone a family friend to help you while you get going can be the difference.

cremedelacreme:
If only Shettima knows Chief Priest was just catching cruise.

He's not catching cruise , he's trying to enrich himself. He's a lick ass who has made money simply by ass kissing. Do tell what is his business accumen

In that picture you see Seyi Vodi who is Shettima guy because Seyi has strong links to Maiduguri when Kashim was governor and that was how Seyi became big-time. Cubanna is trying to ass kiss so he'll be thrown some crumbs to promote APC Tinubu government on SE. Remember he's a special assistant to imo governor Uzodima.

It's all stomach infrastructure and he's so daft he has no grace to his ass licking

Nbote:
Binance Executives in Nigeria Hahahaha Abeg na lie jare. It's just like claiming they arrested twitter or Facebook execs in Nigeria
First things first they claim we are not earning enough from exports that's why naira is falling, so why the attacks on

I'm sure they have VPs who handle the Africa/M.east regions. This was apparently reported by guardian UK who have strong connection. Remember this is not the mirror

socialmediaman:
You arrested who? On what charges? Mention their names and portfolios let's check something. Those details are usually leaked to the press.

This news is trash unless Binance confirms it

If you have to go to the point of stealing someone else's mandate, at least do what the mandate requires

Binance are not going to go public and publish that two of their execs are under investigation, what would they gain from that they'll only unsettle investors and risk loosing subscriptions.

They'll play like they are lock in step helping the regulators and claim they've played according to the rules.

EreluRoz:
If I say my mind now they'll come for me but in reality I'm saying the truth.

Just very few people doing this thing called binance in a clean way

It seems to me to be a money laundering tool. I already know all these yahoo boys move their money through digital money and crypto.
And there now seems to be some people who speculate there too.

It seems to be where looted money in Nigeria and questionable funds trying to enter Nigeria meet.

MichaelSokoto:
protest wit no single impact.

Na vawulence govt dey respect pass!

Launch ENDSARS 2.0 & see wehda emilokan no go quickly announce fuel reduction back to even #65 sef!

Your agenda no fit agend. Una been think say SW would allow themselves to be used as a tool to destroy a government lead by a SW man.

Any attempt to try that end sars wouldn't even fly this time.

riverbird:
To get Yorubas just offer them something to eat and shikena the rest will be history

Una people agenda no work