Smart Buys and Regrets: Navigating Price Hikes in Nigeria

I live in a country where the naira currency experiences constant devaluation, and because of this, the prices of goods and items keep getting expensive. This is why the phrase "You can't buy it twice; don't buy it at all" doesn't work here in Nigeria. What works here is "If you can buy it now, then buy it, or else you would pay twice the price for the same item."

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I have been lucky enough to get some products before they got really expensive, but at the same time, there have been products that I have bought that did not really last. I would be talking about some of the products that I have bought that I am very happy about and some that I have not.

An example of an item I bought almost 3 years ago was my generator, which I bought for about 90,000 naira and is now being sold for 200,000 naira. This generator has served me without problems, making it one of the items that I was happy to buy at that time. It has saved me from situations where there have been issues with electricity in my area.



Another product that I bought last year was my earpods. I can't say if I am really happy with it or not, as it is a bit of a mixed feeling. This is because it is not performing at the full capacity I bought it for while I have been making use of it for quite a while.

The sound quality of these earpods is nice, but the microphone quality pisses me off. I cannot use my earpods during calls because of how bad the microphone quality is. I would have to switch to phone mode in this case. I bought this earpod for 21,000 naira, but now it is being sold for 30,500 naira.



Another product that I am happy about is my laptop, which I bought in 2021 for 210,000 naira. It is the most expensive item I have bought with my money, and till now, I have not spent money on something that would make me spend more than 200k.

My laptop has helped me in a lot of ways. I have been using it to blog on Hive, learn video editing, and learn a tech skill. I have also been helpful with things related to my schoolwork. I don't even know how I would have survived without my laptop because almost every task I do requires my laptop, and without it, I would be feeling useless.



Another purchase that I would call a bad one is my wristwatch. I bought that watch for about 10,000 naira, and the watch didn't last up to a year before some of its control knobs got missing. I don't know how it was removed, but I was surprised to check my wristwatch, only knowing that I could not change the time to the correct time. Ever since then, I have been wearing my watch only for fashion and not being able to change the time to the correct time.

So these are my good and bad purchases. What about you, What purchases have you made that have been great and worth it, and which ones have been a disppointment?



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10 comments
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Same problem here in the Philippines. currency value gets lower as the price of goods continue to increase so it was really a godsend to know Hive and save HBD on my account that remains to be stable and not hard to withdraw in case of emergency.

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yeah true.. I don't know where my life would be if not for hive. Being able to make some money in dollars and also have the option to save in dollars.

Yeah, I know that other countries face the same problem. Just that, I didn't know that the Philippines is part of those countries. I know very much about Venezuela.

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Omo the hike I’m price no be for here ooh
Imagine that you now want to buy that generator, you’ll be getting it for 200k
Omo things are really expensive
Everything is now looking like an investment

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Yeah, true. Everything is an investment now. But the best way to invest your money is by saving in dollars. Maybe that way you would be able to buy it when inflation comes in.

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Hmm the way the price of things are sky rocking ehh. If you don't buy today, you'll definitely regret it

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It's just really funny on how this happen in Nigeria 😂Cause I mean, one would be scared to ask for the price of what you once bought cause of the big change in the price tags 😂 may God come through for us I pray.

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Omoor yeah... The way the naira is devaluing ehn, and it is in an alarming rate.

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