Omo..as I dy read this thing..water just dy drop commot from my eye..so it means till old age I will still have to work to survive and live the life I lived in my youth days..

sulaak:


Was the PDP any better?

They are the same, just that one is worst.
If PDP had done the right thing, we wouldn't have found ourselves in this mess.

adonainana:
Bro i remember buying 5 naira bread when i was small around 1998 time.

We even used to joke that the bread was pregnant at the time.

I remember my mum charging our tenants 2,000 naira for the year to use of our shops we rent out in front of our house.

Then when subsequent tennats came in and went out since 2006, she forgot and still left the price at 2,000 naira per year until recently.

A 1,000 percent inflation rate is not a good thing to write home about, despite productivty having increased by the same 1,000 percent

Besides the bread that was 5 naira then is what is probably now 70 naira now the cheapest.

I think the only factor you can blame is how productive the country has been since 1985 when naira got introduced.

This country produces nothing, even the crude oil is imported back as refined diesel or petrol, its like growing cashew on a tree but since you dont have the machine to remove the cashew from the nuts, you export it out so someone who has the machine abroad can import it back to you

Its unexplainable economics because what that means is you are simply selling something just to buy it back again

Thus every single thing is imported hence when no forex is coming in or there is a shortage the imported items such as Rice, beans, cars suffer and go up in price

When Nigerians see forex as gone up in price, and rice and common items are expensive, a ripple effect is created, Artisians, bricklayers also increase thier prices for services because food is now expensive

In turn Real estate agents increase thier overpriced houses, Most houses in lagos are not worth up to 6 million naira no matter the house, but when its expensive to import the rod, the wood, everything into the country except Cement which dangote too simply puts the price up cos his own cost of materials too has gone up

You see why Life becomes unbearable for the common Nigeria man and the poverty level grows because the poor can never keep up when that 1 dollar a day he is meant to be living off a day cant simply buy much

Nigeria needs a very wise leader or team of leaders who would elected for 10 years minimum to work a grand strategy out.

Like it will get very bad cos even this current administration for 8 years now hasnt really done much


Nigeria needs a grand plan, a very very good and great textbook plan

Not only is the price high, the quality is also very low

ikorodureporta:


Source: https://www.thecable.ng/food-inflation

All these bad news(projections) and not one solution was proffered.

Slawormir:
Damnnnnn niggarrr
The thing is tiring o......no longer funny...
There should be price control because even our people too greedy....them dey take advantage to increase even if them nor supposed increase am

You go give your sisters money for food stuff
You go shock to see wetin them use such huge amount of money take buy

Venture into agriculture Small you will come and edit your post.

MajorOvakporaye:
will avoid this thread

Certainly, he will..

AkwaIbomMan:
that is obviously why food prices have been so high recently

bandits and Fulani herdsmen terrorizing farmers in Northern Nigeria and restrained them from going to the farm.

Start farming too in your State that is bandit free.

[quote author=AkwaIbomMan post=93103766] that is obviously why food prices have been so high recently

bandits and Fulani herdsmen terrorizing farmers in Northern Nigeria and restrained them from going to the farm.[/quot

Ikorodureporta, you have done very well.

This post is well detailed and articulated. I wish all read this from from beginning to end word-to-word. But these early commenters seem to be interested just i. Fp, or sp, or 3p...

Hmmmm Nigeria is in big trouble financially and useless Nigerians don't even have ideas.

Okuda:


the one the govt would not allow grow?

I disagree .
Not every problem Is caused by the Government.
Change your thinking brother .

Admin after admin, we trivialize issues and make it into stupid APC vs PDP coloration.

A part of what brought Zimbabwe to that point was the insistence on subsidising consumption activity that was not bringing the desired growth and printing local currencies to be able to pay these subsidies. This triggered inflation as the money supply rose without a corresponding rise in productivity.

Productivity is what gives values to money, once govt decides to start subsidizing(encouraging consumption at expense of production), inflation is inevitable. In the Bible, when God interrupted the production cycle by withholding rain, production of basic needs ceased and inflation kicked in. It i s commonsense that production is far preferable to consumption for economics.

u will not see many good news in this buhari fg. what u will see is 1 scandal after d other. d boarder closure has cause inflation & fall in d value of naira

Nigeria is not just about food inflation. It's also about currency inflation, lenders' mandated/triggered devaluation and pure mismanagement of import monopolies

Of course point out that the inflation ballooned drastically under buhari than at any other time in Nigerian history

Past NYSC DG'S response to the financial complaints of Nigerian youths

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       Thus, Youth Corpers have been sensitised on the common reality of serving at a place lower than expectation and how they can tackle the dilemma. Public activists and Youth empowerment institutions have further encouraged Corpers to engage in convenient side hustles, preferably online based, if they are too displeased with the events at hand, because the Nigerian government has proved incompetent over the years, hence, cannot be relied upon.
          Certain business Organisations have further displayed interests in the idea and given their full support through investment incentives and convenient online jobs offered on a platter of gold. Recharge And get Paid VTU Agency, Cryptocurrency institutions, and WordPress are prominent examples of companies bidding aspiring youths to invest in them with minimal funds and get rewards of incentives, job offers and international trips. A very notable effort at remedying the prospective damages of the Federal Government's laxity towards it's youth.
         Thousands of Nigerian youths have enjoyed, and are still enjoying these incentives offered by online institutions such as the aforementioned.
National Youth Service Corpers and Nigerian youths in General are advised to invest in online companies of these nature with minimal funds, get registered and start up online based ventures, hence becoming their own enterpreneurs while making sure to always remember that they are truly the leaders of tommorow.
         Miss. Ochem Ifeoma, the Team leader of Gift Sketches RAGP group gives words of wisdom to Nigerian Youths...
    ..... in quote; " To climb up the pedestal of wealth, place the first foot..

THIS MESSAGE IS NOT DIRECTED TO ONLY SERVICE CORPS MEMBERS, BUT NIGERIAN YOUTHS IN GENERAL.

TO LEARN MORE CONNECT WITH US AT:
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Thanks for this detailed analysis.

I thought I was the only one who noticed this.

Prices of food, even provisions has been and is still going up at an alarming rate.

The most important thing is most Nigerians don't notice this.

If you check prices of foods before this pandemic and now, you would be seriously concerned.

Some prices have remained same but quality dropped.

God help us all. Amen.

AkwaIbomMan:
that is obviously why food prices have been so high recently

bandits and Fulani herdsmen terrorizing farmers in Northern Nigeria and restrained them from going to the farm.

Food stuffs are gonna be super expensive next year..everybody save for the rainy days..now oh...

sulaak:
Adesina will not address the true impact of Buhari hopeless leadership, the failure to support local industries and agriculture. Closing the border was a stupid decision by this government.

A country with 12% inflation and weak currency at N560 to $1 needs help

Instead of help they closed border.

Slawormir:
Damnnnnn niggarrr
The thing is tiring o......no longer funny...
There should be price control because even our people too greedy....them dey take advantage to increase even if them nor supposed increase am

You go give your sisters money for food stuff
You go shock to see wetin them use such huge amount of money take buy

things are real expensive this period. Don't blame them. I bought a bag of Rice 3 days ago in PH for #32000. It got wondering how people survive.

AkwaIbomMan:
that is obviously why food prices have been so high recently

bandits and Fulani herdsmen terrorizing farmers in Northern Nigeria and restrained them from going to the farm.

You call it Northern Nigeria while they don't see themselves as North. Stop using Fulani narrative.


The Core North(East & West are desert, the Sahel is unproductive.

Most of Nigeria's food comes from the Middle Belt. The Middle Belt is a fertile region that's why migrant Fulani jihadist herdsmen are trying to take over it.

They have renamed hundreds of communities.

Slawormir:
Damnnnnn niggarrr
The thing is tiring o......no longer funny...
There should be price control because even our people too greedy....them dey take advantage to increase even if them nor supposed increase am

You go give your sisters money for food stuff
You go shock to see wetin them use such huge amount of money take buy

Price control will go a long way but the thing is the enforcement agency will collect bribe and at the end the price won't be controlled

adonainana:
Bro i remember buying 5 naira bread when i was small around 1998 time.

We even used to joke that the bread was pregnant at the time.

I remember my mum charging our tenants 2,000 naira for the year to use of our shops we rent out in front of our house.

Then when subsequent tennats came in and went out since 2006, she forgot and still left the price at 2,000 naira per year until recently.

A 1,000 percent inflation rate is not a good thing to write home about, despite productivty having increased by the same 1,000 percent

Besides the bread that was 5 naira then is what is probably now 70 naira now the cheapest.

I think the only factor you can blame is how productive the country has been since 1985 when naira got introduced.

This country produces nothing, even the crude oil is imported back as refined diesel or petrol, its like growing cashew on a tree but since you dont have the machine to remove the cashew from the nuts, you export it out so someone who has the machine abroad can import it back to you

Its unexplainable economics because what that means is you are simply selling something just to buy it back again

Thus every single thing is imported hence when no forex is coming in or there is a shortage the imported items such as Rice, beans, cars suffer and go up in price

When Nigerians see forex as gone up in price, and rice and common items are expensive, a ripple effect is created, Artisians, bricklayers also increase thier prices for services because food is now expensive

In turn Real estate agents increase thier overpriced houses, Most houses in lagos are not worth up to 6 million naira no matter the house, but when its expensive to import the rod, the wood, everything into the country except Cement which dangote too simply puts the price up cos his own cost of materials too has gone up

You see why Life becomes unbearable for the common Nigeria man and the poverty level grows because the poor can never keep up when that 1 dollar a day he is meant to be living off a day cant simply buy much

Nigeria needs a very wise leader or team of leaders who would elected for 10 years minimum to work a grand strategy out.

Like it will get very bad cos even this current administration for 8 years now hasnt really done much

Nigeria needs a grand plan, a very very good and great textbook plan

It's a very wonderful analysis.

Nicepoker:
Start farming too in your State that is bandit free.

environmental pollution due to oil spillage.
Our land isn't arable neither is it fertile.
Crude oil has become a curse to us.
I'm from Ibeno LGA, Akwa Ibom state

The situation in Nigeria is very pathetic. The government is not properly monitoring the economic driven policies and measures in the country, to curtail food price inflation. As long as we have briefcase and political farmers, as well as greedy middle men, food commodities price will continue to increase.

Nigeria at the moment is a rice producer, hence the people should feel this impact. However, if a G. Crony with money bags buy off the entire monthly rice production of a rice producing company, hoard the rice to create scarcity and then resell at an unimaginable amount, continuous price increases is inevitable.

Since some States are rice producers, there supposed to be regulated prices for which the commodity is sold to the public. In some cases, accredited states selling points, add other unofficial charges, thus making the product more expensive than expected.
Regulated price control is of great essence, without which exploitation is imminent.

Petroleum products pricing is a good example for us. Very soon, when the downstream operation is deregulated, the reality of the time will be starring at consumers.

The Consumer Protection Agency has been rendered redundant.

AkwaIbomMan:
environmental pollution due to oil spillage.
Our land isn't arable neither is it fertile.
Crude oil has become a curse to us.
I'm from Ibeno LGA, Akwa Ibom state

There are other LGA there like Ikono, Ini, Nsit ibom, Etinan, Abak, Etim ekpo, Ukanafun. free from oil spillage. No excuses, start something.

AkwaIbomMan:
environmental pollution due to oil spillage.
Our land isn't arable neither is it fertile.
Crude oil has become a curse to us.
I'm from Ibeno LGA, Akwa Ibom state

Hahahahahahahahaha....
Which place in Ibeno are you from?

I’ll always say this, with the current arrangement of things in Naija, you only need to see 4 different faces serve two terms each as President (and governors at state level) and before you know it, 32 years of your life is gone.

Infact the OP has done a great job painting the long term picture of what Nigeria is getting into.

Data like this shows clearly why we are the Poverty Capital of the World. A 1000% increase in food costs within a generation is a level of poverty that will break a people. Pensioners entered into 1000% inflation with income from a time when a bag of rice cost ₦2,500. That has definitely broken millions of people.
What are the social costs? This 1000% increase in food prices is reflected in our economic and security situation and makes you understand why we have these levels of insecurity, kidnapping, and unrest all around Nigeria. My organisation’s consumer price measure, the Jollof Index, has consistently shown a close correlation between pockets of the country with elevated insecurity and high food prices.


this increase inflation and selfish altitude of some leaders in their countries had caused them their position but here in Nigeria everyone of us fold our hands,most specially,we the youths of the country,as if all is not well.Youth time to wake up and safe your destiny

Isinweke:



You call it Northern Nigeria while they don't see themselves as North. Stop using Fulani narrative.


The Core North(East & West are desert, the Sahel is unproductive.

Most of Nigeria's food comes from the Middle Belt. The Middle Belt is a fertile region that's why migrant Fulani jihadist herdsmen are trying to take over it.

They have renamed hundreds of communities.

bross Northeast and northwest people are predominant farmers more dan the entire southern part of d country. dat land u Called Desert is good for some crops. if u r talking about tubers crop na north Central get am but for cereals, onions.,tomatoes and groundnut don't try core north, north Central dey learn.