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Local => Nigeria (Naija) => Topic started by: Davidvictorson on November 15, 2023, 01:58:13 PM



Title: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: Davidvictorson on November 15, 2023, 01:58:13 PM

E get anybody here wey still dey budget? For X(formerly Twitter), some Nigerians dey recall the days wey Spaghetti na N100, Peak Milk na 80, small Loaf of bread na N50, a crate of egg na N100 and so on. But now, Golden Penny Spaghettin na N700, Peak Milk na 500, small Loaf of Bread na N350, a crate of egg na N2900.

The crazy tin for all of these things be say e never reach the limit wey be say, the price nor fit increase again. As e be now we fit by next week buy spaghetti at N1000 and even a crate of egg at N5000. Budgetting nor fit work at all because yesterday price nor be today's price at all. Abi e get anybody wey still dey do budget?

My pipo una fit help me with some strategies wey una dey use to take manage una self incase of buying. Even if you suggest bulk buying, where the money dey to take do bulk buying?

Picture source - public domain


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: Agbamoni on November 15, 2023, 02:23:37 PM
One thing about our country be say anything wey go up no they ever come down. Ah no no if nah h something wey they generally for other country. I remember when I buy I carton of indomie last week for 4 thousand naira, the next two weeks nah five thousand naira e con they cost. When they say the cost of living wan kill the living no be say they mean say nah food wahala. E include, cost of transportation ( distance wey be 100 naira nah 200 naira now), cost of internet ( MTN data no they last again), not to talk about cost of health and living. My brother even house rent wey be 150k to 200k for self contain nah 300k to 350k now.

See me wey get big dreams the country wan destroy am for me. E con be like say if person no soil in hand for bad thing him no go fit achieve him dreams.


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: Makus on November 15, 2023, 02:38:10 PM
No so we see life for Nigeria oo, my brother this kind of thing no tire you? Currently Like this 1 bag of rice na about 45k but before 25th of next month e fit don reach 60 or 55k, person wey still dey procrastinate to buy something for naija never still know the danger of wattin em dey do, and the worst part of every thing na be say as the price go up for am to come down no dey easy, e fit no even come down sef see garri bag wey we been dey buy 5000 now e don reach 17,500 for the last 7 months the price never still change from that one and before you go know e go turn the normal price. For Nigeria I no sure say e get any thing like highest price limit because anything price fit change at anytime, for those wey still dey set budget when dem go market the only thing wey u go dey hear na be say "everything don add money so I no fit thing wey I write finish" this talk now no be new thing for our ear because na wattin we dey hear all the time.


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: Gozie51 on November 15, 2023, 02:44:34 PM

My pipo una fit help me with some strategies wey una dey use to take manage una self incase of buying. Even if you suggest bulk buying, where the money dey to take do bulk buying?


Bulk buying Kee.... ;D

Anyway, I don watch some videos online about the way naija people suppose cut down on expenses including the video from psquare (rude boy abi wetin be him name self). Him say na to cut down on unnecessary expenses and people wey dey carry girls wey dey task Dem should dump the babes.

On a serious note, recently I go buy Colgate (toothpaste) and the price na double of what I bought before, I buy am 400 before but dem tell me 800. So the thing wey dey there na to cut our cloth according to the size of material wey we get. If we enter market, there are big sizes and there are lesser price own, so na to just pick the one wey we fit buy and apply economic inside am. Like now even for restaurant people no dey waste food again talkless of for house. We need to economize our money and the thing wey we buy.


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: Zanab247 on November 15, 2023, 02:48:48 PM
Those food items you mentioned here, indomie generation will not know the price, and then when all those price was low many people use to buy in bulk because, the economy was working well then compared to this worst economy we have ever experience in life. Those days cup of garri was #10, exercise Note book was #50, pen #20, but if you go to the market to buy cup of garri now is #100, exercise Note book 40 lives is #200, pen is #100 for you to know that many things has go wrong in our economy, and many people have reduce the way they use to consume food these days. Those days you can eat more than 3 times a day base on the food is surplus in the market and the price is cheap compare to this current economy that made many people to maintain feeding 3 or 2 times a day and many people have reduce the way they use to purchase food items in the market base on the high price.

I came to discovered that some of the food items made in Nigeria are still more cheaper than those items made in other countries and, their price is more higher than Nigeria products, and if you check very well you will know that they have the same quality in taste but different price.


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: Churchillvv on November 15, 2023, 03:08:31 PM
As e stands now I no sure say person dey budget to buy things in bulk oo. You go just faint if you budget something come enter market because when Dem tell you price half of the money wey you budget no go buy shit aswr. People like us wey dey school now dey suffer. Dem say let the poor breath but oxygen self no dey for we country. Food 300 now na 1k for inside school.

For the we country dem no dey plan for anything na the country dey plan us.
If you no Sabi manage you go complain tire, now we dey chop 101 or sometimes 011 if not you no fit survive am here. For PH people wey dey sell no wam use ear hear say something add price 2sec Dem do double the price weather dem go new market or not Dem go add price. Na people wey get family dey suffer am pass because children no wan no weytin dey sub oo na just chop be there own.

For me this country na cruise  ;D no thing dey serious just relax enjoy the cruise.


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: Amphenomenon on November 15, 2023, 03:19:28 PM
In all these issues I pity the low salary earners, people are suffering, there are those who haven't salary increase since 3 years ago or more than and they are still working hard trying to feed their family.
Cutting expenses has been what these families has been doing for years and things are still getting worse. My advice is to have an additional job(this may be hard), start a business their capital can work with or start farming if there's an opportunity for you, which is the best, crop farming is not as expensive as animal farming and it will go a long way for the family.


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: DEAstriker on November 15, 2023, 03:42:49 PM
So the thing wey dey there na to cut our cloth according to the size of material wey we get. If we enter market, there are big sizes and there are lesser price own, so na to just pick the one wey we fit buy and apply economic inside am.


Bro waiting you talk na big truth because I no see where human being go dey  raise  shoulda up way be say sheet no comout from e yash .. E go con dey go buy waiting e no say if e buy this particular thing money go finesh for e hand, e no go get sense say if e spend that small moni way dey e hand e life go bend small.. oya just imagine na as price of things high for buhari like this, nah person go see cloth of 5000 way e no say e go fit am well for body e dey go eye the one way fit cut e  neck...Nothing dey to dey raise showda up as our brother talk am say cut your cloth according to your size.


Na true say for the world of economics and finance. The market they always change and yesterday's prices no be waiting we fit predict as day break today. In fact,  to predict the future of market too hard on e own.




Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: Lida93 on November 15, 2023, 04:01:12 PM
E get anybody here wey still dey budget? For X(formerly Twitter), some Nigerians dey recall the days wey Spaghetti na N100, Peak Milk na 80, small Loaf of bread na N50, a crate of egg na N100 and so on. But now, Golden Penny Spaghettin na N700, Peak Milk na 500, small Loaf of Bread na N350, a crate of egg na N2900.
Don't try to remind me about the good old days when we were young and life wasn't as hard as it is today. Back then, the money was to an extent hard to get but with value in the spending  howbeit today it's rocky to make money but easy and fast spending it because of how the value has fallen but the price of goods and services keeps skyping up.

Quote
The crazy tin for all of these things be say e never reach the limit wey be say, the price nor fit increase again. As e be now we fit by next week buy spaghetti at N1000 and even a crate of egg at N5000. Budgetting nor fit work at all because yesterday price nor be today's price at all. Abi e get anybody wey still dey do budget?

My pipo una fit help me with some strategies wey una dey use to take manage una self incase of buying. Even if you suggest bulk buying, where the money dey to take do bulk buying?
A general problem with merchandize in Nigeria is that they are too quick to increase price X2 of the the previous at every simple increment made by producer of a product but when same product price drops they don't act quick in dealing with consumers with the decreased price, and I don't blame them entirely, the government agency saddled with the responsibility of price regulations and control are sleeping on their duty to discharge punishment on offenders by taking bribes while the consumers pay for it all.

What I can advise is that, try and be doing over budgeting, because the price you bought a product last week would never be same price of the next two weeks there will always be a top up and that's how bad the reality of things in the country has become.


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: EluguHcman on November 15, 2023, 04:04:06 PM
The reality of now be say... Cut your costs and spend with the conciousness say tomorrow fit hard pass today.


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: Spaceman1000$ on November 15, 2023, 04:35:56 PM

E get anybody here wey still dey budget? For X(formerly Twitter), some Nigerians dey recall the days wey Spaghetti na N100, Peak Milk na 80, small Loaf of bread na N50, a crate of egg na N100 and so on. But now, Golden Penny Spaghettin na N700, Peak Milk na 500, small Loaf of Bread na N350, a crate of egg na N2900.

The crazy tin for all of these things be say e never reach the limit wey be say, the price nor fit increase again. As e be now we fit by next week buy spaghetti at N1000 and even a crate of egg at N5000. Budgetting nor fit work at all because yesterday price nor be today's price at all. Abi e get anybody wey still dey do budget?

My pipo una fit help me with some strategies wey una dey use to take manage una self incase of buying. Even if you suggest bulk buying, where the money dey to take do bulk buying?

Picture source - public domain
This is why some of us have been complaining about the high level of inflation in the country, the price and regulations board authorities are not checkmating the unnecessary act of wicked by those retailers and wholesalers making this increase on goods on a daily basis.
Somebody I know in U.S is telling me that, there is a particular bread 🍞 he normally buys in mall in his neighbourhood, he said that the bread hasn't added a single cent on it's price tag for the last 5 years.
In sainer climes, authorities are supposed suppose to be checking this prices, not that today you buy one item for 100naira, in the next two days, it has added price just like, and nobody is raising an eyebrow.


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: Jamestown70 on November 15, 2023, 05:27:11 PM
Every single thing for this country just dey add price for were I dey buy beans sef them no dey sell 200 own again, so things just dey very difficult the worst part be say we no dey gree patronize our locally made goods na why this things dey increase any how, our currency no just get the desired value e suppose get.


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: GiftedMAN on November 15, 2023, 06:37:03 PM
I no go lie the matter wey op bring come table na true talk, the wey price of things take dey go up every day when we wake up tire person and one funny thing be say as the price climb so, e no fit come down to normal again rather e go dey climb higher and higher dey go where we no no.

If you check very well for the few things wey op list, you go see say as the price of those items go up since e never come down again rather everyday the prices dey add and when you ask sellers dem go push the blame on the price of dollars the most annoying part be say even our home made products still dey higher and people still dey say na the price of dollar cause am I just tire for we country naija.

I no even think say buying things in bulk go help to salvage the situation wey we find ourselves but rather I feel say the best option na just to get double stream of income and to dey make surplus budget whenever we wam go market go buy something because for sure the price of things must increase everyday.


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: Jegileman on November 15, 2023, 07:37:10 PM
The crazy tin for all of these things be say e never reach the limit wey be say, the price nor fit increase again. As e be now we fit by next week buy spaghetti at N1000 and even a crate of egg at N5000. Budgetting nor fit work at all because yesterday price nor be today's price at all. Abi e get anybody wey still dey do budget?

I still dey do budget o, but dat one no mean say I no go expect different price if I reach market to buy wetin I budget. If money no reach budget because of prices of goods wey change, na to do scale of preference with am o, I go buy d tins wey dey necessary for now and maybe cut down d cost of some oda tins wey I no go too need. I just dey get believe say tins go better na him make me still dey do my budget for anything wey I dey plan to buy. If he no go well, we adjust budget and we move on. Life no hard pass like dat, anything you no fit afford dat time, we reduce am to d one wey we fit afford and everything go dey move on as we dey pray for better change soon.

Quote
My pipo una fit help me with some strategies wey una dey use to take manage una self incase of buying. Even if you suggest bulk buying, where the money dey to take do bulk buying?

Picture source - public domain

Bulk buying na by money too o, but you fit still run am sha. But e go still depend on d person wey you dey buy your stuffs from. If d person trust you, him fit give you more at d price wey you budget for, so dat you go come pay am back later even if d price don go up by then. Dat one na good way to buy plenty Tina keep but no be everybody go fit help you with am like dat, since no be everybody fit trust you but if you don build better costumer relationship with dem, e go come easier for you.


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: rachael9385 on November 15, 2023, 08:18:13 PM
This few days I con dey reason am say if price of things go up e no dey easily come down but if in case e drop no be as e been dey before, and na that one be the major Koko for this economy so.
I remember when I some days back way I enter Keke-napep, distance way nah N100 before the aboki man tell me say nah N300 then I con tell am say abi fuel never reduce from N900 to N650? And the guy open mouth tell me say as e done go up em no want make e come down again because nah that time them dey get plenty money.
Now just imagine am say as I go fit afford the extra N200, make we reason those way no go fit afford the N200, how then won take survive? So I go like tell those business pipo them say make them no only think of there selfs alone but others way no get how them win take survive for the country.
The price of things before and now no be the same, I remember when I been dey primary school as if that time I dey buy cooked rice N20 and e dey belle full me but now I now, even food of N800 no dey reach me unless say I buy like N1500 before I go fit eat to my satisfactions, so abeg were you think am say this country dey carry us go? (Otilo)


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: Stable090 on November 15, 2023, 08:19:19 PM
Every single thing for this country just dey add price for were I dey buy beans sef them no dey sell 200 own again,
For dis country now if you price something for market and dem tell you d amount in d morning, no dey suprise say if u go to the same place in d evening they go tell you say e don add price again, even people wey get goods keep since come dey use dollar as opportunity dey add money to things even as they never buy new ones, make we just double our hustle for dis country because e no really easy, make we dey pray make we fit afford d basic things wey we need no matter the amount they are selling it. I no understand ooo which beans you dey buy at 200 naira, na raw beans or na d one wey dem don cook already wey u co buy for buka?

so things just dey very difficult the worst part be say we no dey gree patronize our locally made goods na why this things dey increase any how, our currency no just get the desired value e suppose get.
Sometimes I no dey blame people wey no dey patronize our own local product, make I use farm products as example, d way all those farmers dey take care of there products e no really make sense at all, for my side here, if u buy some local rice, u go just see stone full am, rice wey dem suppose carry go machine wey go remove d stone make dem polish d rice before dem carry am enter market, our people no care, all dey want is how dem go take make money which is not really making sense, things like dis dey among why plenty dey prefer make dem go for foreign things.


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: Odohu on November 15, 2023, 08:58:39 PM
E get anybody here wey still dey budget? For X(formerly Twitter), some Nigerians dey recall the days wey Spaghetti na N100, Peak Milk na 80, small Loaf of bread na N50, a crate of egg na N100 and so on. But now, Golden Penny Spaghettin na N700, Peak Milk na 500, small Loaf of Bread na N350, a crate of egg na N2900.

The crazy tin for all of these things be say e never reach the limit wey be say, the price nor fit increase again. As e be now we fit by next week buy spaghetti at N1000 and even a crate of egg at N5000. Budgetting nor fit work at all because yesterday price nor be today's price at all. Abi e get anybody wey still dey do budget?

My pipo una fit help me with some strategies wey una dey use to take manage una self incase of buying. Even if you suggest bulk buying, where the money dey to take do bulk buying?
This thing no surprise me at all, I know say e go be like that. Many things cause the thing we dey complain about now. First you supposed know say Nigeria no get better price monitoring and control agency, even if we get, them no dey do their work. As e be so for Naija, every oma dey fix their price, as them take buy na so them take dey sell.

The second part be say, our economy no make sense as e be so now. Even people wey dey do business no dey find am funny. Make we no forget say plenty people have been forced out of business because say them no fit cope. People dey adjust themselves, cutting down how them take they buy and use things. This one dey affect the business so much because of low sales. Base on this, any customer them catch wey dey in serious needs must use him eyes see shege untop people wey dey sell.

My advise be say make we dey adjust our spending too to cope and make we also increase the hustle so that money go brekete to take buy things even if them increase the price. Lastly, make we no put hand for illegal because e no dey give peace of mind.


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: sokani on November 15, 2023, 10:07:54 PM
Don't try to remind me about the good old days when we were young and life wasn't as hard as it is today. Back then, the money was to an extent hard to get but with value in the spending  howbeit today it's rocky to make money but easy and fast spending it because of how the value has fallen but the price of goods and services keeps skyping up.
Omo... Life been sweet that time. For primary school those days if you carry N10 go school as pocket money you be big boy, you go flex yourself and your men join. You go buy agidi, sweet, ice cream, all with that shekini money but right now everything don cast. Money no get value again, you go buy something today, tomorrow when you want go buy the same thing, them don add price. Even as things dey on the high side already, I still dey expect market people to add their own price because of Christmas.


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: Justbillywitt on November 15, 2023, 10:12:59 PM
The way this country dey go dey tire true true, the thing touch me till I come say if na like this e been dey before some of our parents for no fit raise us to this age wey we dey. Just imagine ice fish that was considered as poor man or middle class fish in the past, today na big shot for market. With the way things dey go like this I dey fear for for this country. Many young men wey don reach to marry dey fear to do so now because of how things don be for we country. Imagine how much be pampers for market and baby food. One  thing wey I just notice be say the rate of child birth has really dropped since this country economy don dey like this. I don’t really know if I will say na good thing for we country or na bad thing but the truth be say suffer dey the country. Na who get money self dey budget, any day I go to market to buy something I dey carry my atm card go and not cash because the money wey you withdraw go finish. So I just buy and whatever them calculate come out I give the person card to collect the money. If account balance no reach I reduce things or go for alternative using the economic principles.


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: Cryptomultiplier on November 15, 2023, 11:07:04 PM
Infact, the case of dwindling prices of goods and most services is much these days. I don't think even the bulk buying amounts to much these days if same budget of expenses on items is still used and unadjusted.

Some marketers claim it's because of the increase in exchange rate of dollars and since the retail stores buy according to the dollar prices, the consumer will have to bear the brunt of sudden price increment too.
Afterall,  who wan make loss?
I have been thinking that perhaps we adopt an alternative to our fiat, since the current situation can't be remedied anytime soon.

Also, to buy in bulk will continue with ease, more finance will be available to afford some good investments and the satisfaction of not being limited by the current Naira/economic situation and to live better will be fulfilled.


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: Agbe on November 15, 2023, 11:33:05 PM
Naija wahala e dey tire person. Present President Tinubu said he go make things better for Nigerian to enjoy and come scattered the economy without a modality (any good structure) to address the issue first. The present situation in the country is caused by the present Political party in the country. If really Tinubu wants to do something to help the inflation or the citizens, he would have done something to address this matter for im 100 days in office. Tinubu 100 days in office are di worst in Nigeria president in history. Buhari initiated Npower to doused the tension within his 100 days in office. Tinubu is depending on the unrealistic refineries which will disappoint him again. The president can do everything to reduce the prices of things. Sometimes ordinary proclamation can do the trick. But they can't do that because they are the origin of the problem. They tax the manufacturers, wholesalers and other big businesses so the retailers who went to buy the goods from the wholesale have to pay for the tax fee by the wholesalers so they retailers have to sell their goods in a higher price to cover their prices from the wholesalers. The cost of living in Nigeria in the hand of APC is something else. Before if you take 5k to the market, your kitchen go full with food stuff but today if you take 5k enter Market na only one or two things na you go buy come house. APC government never plan anything good for the country. Most of will say, weti concern APC with what is happening in di country or inflation. My brothers and sisters, na dem be di konkon. Tom Tom in my area now is #30 and some place na #40. Really I no wan tok again on dis matter dem. But I believe say dis year our governor go hear my voice. Di former governor of the state heard my voice and I was to be the president of PDP social media committee in 2014 but I rejected it because I ma advocate for all and not for myself. And dis has been my ambition because I am a philosopher king. According to Marxism, the solution to this problem is revolution and this would have started in 2020. There are some things we need physical action and not only prayers. Nigerian Labour is fighting for themselves and not for the public. Right now they on strike because their member was beaten in Imo State. The citizens should come together to change the present narrative in the country. We are standing alone in this country. All di key ACTORS are supporting the government. The price of goods have sent many to early grave.  Di Lord is out strength.


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: Samlucky O on November 16, 2023, 02:58:04 AM
Na only my country 9ja wey I see say e dey above the law of gravity. That is to say wetting go up no go come down again. I no fit dey make budget for this kind economic recession. If you no want get problem atol just get am for mind say you dey go market go buy food stuff, just carry money buy wetting theomey reach come back house because if you budget before you go market you ft reach market they think say person don rub you. Because wetting you go buy with #10k go just dey for one small nylon.

Sometimes I dey wounder how we carry find ourselve for this kind situation. The worst part be say as goods/commodity price dey high the more the goods dey reduce. You don buy gala recently? Nigeria Gala wey I know before If you finish 2 you don belefull but now e be like wetting return from prison. Spaghetti wey you talk so e been dey thick like about 2mm but now e don reduce to nidle size and the price don high. Another one na Titus when Titus be Titus na 5fish and plenty oil dey dey am but now them don reduce the fish to 2 and the name come even change to Estus and the price still dey go $1 men I no fit explain wetting dey happen o because wetting you dey see we too dey see am o. Yesterday I say make I buy biscuits, fish cake when dem bring am for me I ague say no be am because the slim fit am to shegge. Abeg 9ja don tire me.


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: Youngkhngdiddy on November 16, 2023, 09:14:27 AM
Na only my country 9ja wey I see say e dey above the law of gravity. That is to say wetting go up no go come down again. I no fit dey make budget for this kind economic recession. If you no want get problem atol just get am for mind say you dey go market go buy food stuff, just carry money buy wetting theomey reach come back house because if you budget before you go market you ft reach market they think say person don rub you. Because wetting you go buy with #10k go just dey for one small nylon.

Sometimes I dey wounder how we carry find ourselve for this kind situation. The worst part be say as goods/commodity price dey high the more the goods dey reduce. You don buy gala recently? Nigeria Gala wey I know before If you finish 2 you don belefull but now e be like wetting return from prison. Spaghetti wey you talk so e been dey thick like about 2mm but now e don reduce to nidle size and the price don high. Another one na Titus when Titus be Titus na 5fish and plenty oil dey dey am but now them don reduce the fish to 2 and the name come even change to Estus and the price still dey go $1 men I no fit explain wetting dey happen o because wetting you dey see we too dey see am o. Yesterday I say make I buy biscuits, fish cake when dem bring am for me I ague say no be am because the slim fit am to shegge. Abeg 9ja don tire me.
  Naija economy don emanciate reach point wey e fit dey hard to ever normalize again. On a steady, person budget jus dey scatter at point of business transaction. Person go write budget to enter market, he reach market, next thing na say him budget dey short changed, now he gats withdraw extra money on top to complete market expenses or even in worst cases, he go jus go back house with incomplete items, then jus find way to make do with the things wey him fit buy as no extra money anywhere. The situation dey sad no cap and omor deliverance is greatly needed no cap.
   Naija which way? How would we get out of this? Omor I no even know solution to prefer again because from head to toe, we no even know who fit help this economy pass God. Few days ago, retired economics professor for OAU been go one interview and there him talk say him no sabi where the economy dey go...that is to say, we don reach point of no return. In layiwasabi's voice, "we are in soup". Make we just prepare for the worst sha.


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: Doan9269 on November 16, 2023, 09:59:55 AM

E get anybody here wey still dey budget? For X(formerly Twitter), some Nigerians dey recall the days wey Spaghetti na N100, Peak Milk na 80, small Loaf of bread na N50, a crate of egg na N100 and so on. But now, Golden Penny Spaghettin na N700, Peak Milk na 500, small Loaf of Bread na N350, a crate of egg na N2900.

The crazy tin for all of these things be say e never reach the limit wey be say, the price nor fit increase again. As e be now we fit by next week buy spaghetti at N1000 and even a crate of egg at N5000. Budgetting nor fit work at all because yesterday price nor be today's price at all. Abi e get anybody wey still dey do budget?

My pipo una fit help me with some strategies wey una dey use to take manage una self incase of buying. Even if you suggest bulk buying, where the money dey to take do bulk buying?

Picture source - public domain

This is the kind of funny situation we have all found ourselves in with the way the value of the Nigerian naira is depreciating each day and inflation on market price keep increasing each day, it has bow appears that you will discover having daily increment on price of market items, if you had bought an item a year or two years ago, you would have realized how it would have appreciated in value for a second hand sale instead of depreciating over time.

This is how bad the economy is going, but when the exchange rate comes down, buying market commodities does not have the experience of deflation, instead everyone lock up with the way they make their exorbitant profits.


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: Majestic-milf on November 16, 2023, 10:25:19 AM
 For naija, gravity no dey work where price dey becos as e go up do nah there e dey and if you wan know how you go take survive as budgeting no dey help, to me I go suggest you cut on excesses. Eh, nah true say you only live once and you can't kill yourself so you gats enjoy am, but think am before you spend. These days if not for say some of us dey campaign wey dey pay weekly, the country for choke and before we release the least 10k, we go think am but campaign or not, nothing better pass wen you dey buy according to wetin you need and not just wants.
 During the old days, you fit carry 5h prepare beta pot of soup and garri and you go eat am with your family but now to take that moni dash Pikin sef, e go look the moni you give am two times. We no fit go back to the old days, nah just wish and reminisce we go do but how we go take push forward in this hard economy nah to focus more on buying the one you need, if necessary like two or three of it, provided e no go spoil quick, so that before you go exhaust am, you fit don prepare to buy am.


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: Miles2006 on November 16, 2023, 02:33:17 PM
This inflation for Nigeria na the major problem, everytime wey person wan buy something the price keeps increasing and the most funniest part na things with zero value na price dey increase, even common things for market like onion, now my question is should we blame government for the inflation. I observe something this inflation no dey for only Nigeria most African countries dey suffer from inflation. Everyone keeps talking about the price of things in the market but no solution yet, the more we complain the more price dey increase, for me I don't really know what's causing this inflation even if I wan start to dey mention solutions the inflation go still dey for example promoting and supporting Agriculture in the country will also help but still yet no promotion, and if we observe foreign goods no too dey expensive reach the planting food like the price of onion now na hot cake, pepper, tomatoes etc but people dey plant all this things and price still dey increase.


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: Perfectbaby on November 16, 2023, 03:06:22 PM
Of everything wey you talk the one wey dey make me vex pass na wen something go up and e no go gree go down again, I no know this kind kontry wey we come from self everytime na so things dey add money the worst tin be say government sslf no dey increase salary for workers but every oda tins dey increase money. Na how people wan carry survive this our obodo naija self because since nothing gree come down and hungry dey increase every day by day for dis we nation.


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: Hewlet on November 16, 2023, 05:55:39 PM
My pipo una fit help me with some strategies wey una dey use to take manage una self incase of buying. Even if you suggest bulk buying, where the money dey to take do bulk buying?
the strategy when i go give you na tested and trusted and I done use am see say na him work pass. The strategy na make you make more money. The reality be say price of things for this country go continue to increase with time and the people when I de pity seriously na those salary earners when government no de gree top-up there money as price of this de go up. For the average business person, as una increase una fuel, them too go increase the price of their product and that way them no go get shaking at all. E get some see product when I been de carry go sell for market by this time last year na just 4k we de sell and we been de happy with the profit when de come out that time but as I de talk to you like eh, the prise don rise enter 7k this month and around December I de pray make e increase reach like 9k so e go help my market like this. As you de complain of price so, others de when de benefit from am. If you de receive your payment for dollars you go agree say whenever price of dollar to naira favour naira, you no go too like am. Don't play comr


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: Odohu on November 16, 2023, 07:25:35 PM
Infact, the case of dwindling prices of goods and most services is much these days. I don't think even the bulk buying amounts to much these days if same budget of expenses on items is still used and unadjusted.
You must know that it is only in Nigeria that prices of things goes only in one direction which is upward, with the marketers always ready to provide cogent reason for that. If they don't blame dollar exchange rate, they will blame cost of fuel or just anything... they must find something to say is the reason for the hyke in price.

Also, to buy in bulk will continue with ease, more finance will be available to afford some good investments and the satisfaction of not being limited by the current Naira/economic situation and to live better will be fulfilled.
Before bulk purchase was helping but now it's almost the same thing. For instance, buying rice, beans and garri in bag is the same thing as buying in rubbers. Buying groundnut oil in gallon is almost the same as buying in bottles.  The stuff is really biting hard. The only way out now is to make more money because the prices are not coming down again.


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: Mate2237 on November 16, 2023, 08:11:27 PM
This matter don tire me. Op you really talk di main thing. Person no fit go market with peaceful mind again because when enter Market you go first think and calculate how much you carry come market and when you price one thing as see say the price high then you come dey buy dem half half and to make sure say you buy all di necessary things in the house before di money go finished.

And di bad part be say dem no dey increase salary for di civil servants to meet up with the inflation. Lolz. In Nigeria like this we no get any poor person again because if everyone dey survive at this time then nobody is poor. The prices of things are higher than a poor so if the poor man dey buy then im no be poor man buy na rich man Al of us be.


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: rachael9385 on November 16, 2023, 08:12:17 PM
This inflation for Nigeria na the major problem, everytime wey person wan buy something the price keeps increasing and the most funniest part na things with zero value na price dey increase, even common things for market like onion, now my question is should we blame government for the inflation. I observe something this inflation no dey for only Nigeria most African countries dey suffer from inflation. Everyone keeps talking about the price of things in the market but no solution yet, the more we complain the more price dey increase, for me I don't really know what's causing this inflation even if I wan start to dey mention solutions the inflation go still dey for example promoting and supporting Agriculture in the country will also help but still yet no promotion, and if we observe foreign goods no too dey expensive reach the planting food like the price of onion now na hot cake, pepper, tomatoes etc but people dey plant all this things and price still dey increase.
Hmm,, I no been won talk again but nah when you mention onion you just draw my attention, mostly this onion of a thing I no Badu am at all sha I go say no be the retailers them fault but the producers of the onions (like the onions famers).
Me and you know say nah just North nai most of all this food things they from they come because nah for there them dey farm them, and still the transportation to carry those things come from the North to Niger-Delta no be here, nah thousands of naira, so some time I no dey really blame the retailers too much but the only part I dey they vex for them most nah when me and you know say fuel price done come down and some people they sell their things normal but other no gree reduce the price of their goods to normal, nah that one dey make me vex pass, if you check my previous comment for this same thread you go see when I mention keke-napep driver way talk watin make me vex but how I go do? (Nothing), nai make I say after the government for this our country, nah the business people they follow scatter everything for this same country.


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: Stepstowealth on November 16, 2023, 10:39:53 PM
My pipo una fit help me with some strategies wey una dey use to take manage una self incase of buying. Even if you suggest bulk buying, where the money dey to take do bulk buying?
Going to the market everytime is always surprising because the price of things dey change on a steady and mercy nor even dey for the poor man and e family for inside. Forget strategy oooo, Strategy nor dey too work for this our country again,, the matter na just to dey manage yourself dey go because anyhow you take plan abi na strategy you form, government dey dey wait for you to pour sand sand inside your garri. If you also nor like the receiving end of everything, you can start the business yourself and because a direct seller to other consumers.


Title: Re: [ECONOMICS] Yesterday's Price Nor Be Today's Price
Post by: Obari on November 16, 2023, 10:54:20 PM
I no go lie give you, no specific strategy Dey work now at least no be for this very regime and at some point, I come Dey miss buhari because this whole thing coke be like the story of from fry pan to fire and get them no Dey get any single remorse for their victims wey be the common citizen like me and you.
Make e no be like I no share you update, one of the safest way to survive for this era na to find one person wey Dey sell most of the things you Dey frequently need just loyal the person so that you no go Dey bothered with the price increase because you believe say your loyalist gats deliver you at all time but try Dey pay in time make the person fit sty loyal.