PRICE ACTION IN A TYPICAL NIGERIAN(LOCAL) MARKET
Please watch the video with your earpiece or airpods for better hearing.
So, I went to a local market not too far away from where I live, and I was compelled to make a video after pricing a few things. Have you noticed that everything is expensive?(from a Nigerian POV) . At this point, it doesn't seem to matter what you buy, no single item is exempted, not even the razor blades we used to buy for just N5. It’s alarming.
You see, In the past, consumer prices have always risen with inflation. Prices for many goods have gone up in recent times, and many people have adopted a new way of thinking about their spending habits.
While there is no way to keep up with inflation, a few of the tips I recommended because they’ve helped make my market experience even better..
- Take double the money you kept for each item
- Slash your market list by a half
- Only buy what’s necessary
- Buy according according to order of importance
Now, notice how I spend time haggling prices and asking questions, yeah? It’s a Nigerian thing. One trader attributes the price increase to the insecurity issues plaguing northern Nigeria, another blames it on the gap between the US dollar and naira.
When Our very own Nigerian artiste ‘Tems’ sang that ‘crazy things are happening’ song , she must have had this issue in mind as well. Half the time I had to ask the sellers to repeat the prices they already mentioned just so i could be certain i heard correctly.
Meanwhile, the pepper seller actually sold me the N600 pepper I asked for off record.
I’d also like to point out that the Vol. 2 of the ‘Yesterday’s price is not today’s price’ series will be so much more enlightening.
Here’s why; the amazing @josediccus will be joining me on the show. So, guys, I implore you to stay tuned, and watch this space.
Meanwhile, do you think the notable increase in price of food items is a global issue or just a Nigerian thing?
How expensive are food items in a local market around you?
Do you believe that the Naira will gain on the dollar someday?
What do you think is the reason for the incessant increase in the price of food items today?
PS: All the sellers in the video gave me permission to use their videos.
Video edited by yours truly @omosefe
the rate of inflation is sad. But reports suggest that it is a global thing. Although I think Nigeria is ahead of the world in this.
Would it end? I dont think so. But I think this would usher in a new era for all of us... just like 2008 recession ushered in the world of cryptocurrency.
Honestly, I wish I could share in this optimism, I just can't. At this point, I guess we'll just keep our fingers crossed.
As hard as it is to realize, the world ain't coming to an end anytime soon.
But do we need to plummet so low for evolution? I suppose not.
People would rather stay with a stable economy if it means no evolution.
Not everybody, after this kind of declination in Nigeria, will rise with Nigeria so easily when the evolution comes.
It shouldn't be so.
every new era was born from the ashes of the old...
remember the great depression of the 1920s and 30s? Did
you realize the world economy made a great leap after that?
it's like they say, when the night is darkest, daylight is close.
Wise words indeed.
Thank you @drceeyou
I want to believe now that something great is coming our way.
I feel that your video is very centred around Nigerian markets and while I appreciate the effort, I feel that it is possibly better suited in a different community that is more finance focused as you are mostly discussing prices and inflation.
Hi @andrasita. I completely understnad your point. I'll do the needful next time. Thank you for the observation.
I am just coming back from the market. All I can say is the lord will help me. In fact I no longer buy meat again in my house because it seems like Chicken is cheaper than it. If you buy meat of 20k, it won't even be enough for the whole house for the month. It is so crazy.
I can't remember when last I bought saidines because it is very expensive now. #700 for one small thing like that.
It is well o
Sardines are on a completely different level now, I cannot even remember the last time I bought them. The fact that the quantity has also been notably reduced makes matters worse.
This post should be in @dswigle's Market Friday community. Not mine.
My bad. I made the video over the weekend, so I thought this community was a good fit. Thank you for pointing it out.
The community is about weekend content, not about content made on the weekend. This is a perfect post to use in the Market Friday community. Next time maybe huh?
Sure. Next time. Thanks again.
I got 5 pieces of pepper for 100 naira, one egg is now 80 naira.
Inflation in the country has broken the graph. The worst part is price doesn’t decrease it only goes higher from here.
Very nice of you taking your time to make this research. Thanks for sharing.
It is just crazy all around, no single item is spared. Thank you for taking the time to watch the video and leave a comment.
My pleasure. I enjoyed watching
It's the first sellers "no problem" for me. It's not funny, watching how cost-push inflation devours our economy. The daily changes are what's even alarming. It'll be fun talking it with you.
If there's any word worse than 'devour', it would probably still not suffice. I look forward to having a conversation with you as well. Do have a lovely evening.
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I believe that Nigeria would never return to how it was. This thing has eaten deep and would take a lot sweeping to go back to the beginning. SMH..
It is a terrible terrible terrible situation @deraaa
This is not even being pessimistic at all, it's being realistic.
To think Nigeria has a good future for one, must be a joke.
We'll just keep hoping and praying. But then again, what's there to be hopeful for?
It's the "tomorrow, when I no dey do video, I go price am" for me. 😂😂
I remember cutting my hair for ₦50 while I was much younger. Now, it's between ₦500 to ₦1,000 and I am only 13 years older.
It's disheartening to see these prices go up, not annually, but daily.
Thank you for sharing this @omosefe
Tell me about it. Even a bag of sachet water is priced at N300, something that used to be N50 per bag. I wonder what the price would be in 3 years.
It's really really sad.
I stan a Nigerian willing to fight through and stand active above the circumstances.
Thank you 🙂
Before I say anything, I have to say that your video Editing skills is 🔥🔥🔥.. When would I know how to edit videos like this 🥺🥺🥺.
Come and hold tutorial class for me...
For me, I miss buying 70g indomie for 20 naira and 10 naira for an egg. Those days are sweet days that you don't need to spend much to have a full stomach 🥲
Lol, thanks Star. I had help.
Those were good [email protected]
Serious good times 😁... I miss it 🥺
As someone that sells I must say that the increase in market price is alarming. And to say that if you price it today and didn't buy it when you come back tomorrow, you wouldn't see it at that same price.