Why Is Foreign Products Cheaper Than Made in Nigeria?

[Irfanali]

Analysis of future consumer analysis ...

Consumption of foreign-made goods increases, which falls within this ... He never saw the need for Nigerian industries to produce ...
[automerge]1613036363[/automerge]
Analysis of future consumer analysis ...

Consumption of foreign-made goods increases, which falls within this ... He never saw the need for Nigerian industries to produce ...

 

[solalal36]

I don't totally agree with you. It doesn't work in all scenarios. There are other foreign products that are more expensive than home produced products.
Examples are:
Colgate toothpaste vs Close up,
Bathing soaps, phones, vehicles and so on. And this can be attributed to a country's conversion rate to other currencies

 

[GIFTMICHAEL]

I have observed that our agricultural products like rice, chicken, turkey, etc or even wears are inexpensive despite transporting them into the country. What could be the reason?

Our country is responsible for the high cost of living- no proper diversification of it's economy. When you look closely you will discover that foreign rice alone is cheaper than our local rice. Well i don't want to give a lecture here.

 

[Frank]

I have observed that our agricultural products like rice, chicken, turkey, etc or even wears are inexpensive despite transporting them into the country. What could be the reason?

What is the major cause of this is the high cost of doing business in Nigeria. If you observe, you will notice that right from transportation cost of taking the we items from the farm to the warehouse and even paying of taxes is always expensive.

 

[Jumoke12]

I have observed that our agricultural products like rice, chicken, turkey, etc or even wears are inexpensive despite transporting them into the country. What could be the reason?

Not only agricultural products, I have always noticed that one problem we have in Nigeria here is that our own home made goods are very costly and yet our government is crying foul that we should keep patronizing home made goods. what a country!

 

[mubinadaddy]

The made in Nigeria products wouldn't have been that much expensive if only the farmers and the marketers are not much greedy. Their greediness made them to put price increment which is really affect the citizen but it will boostt the economy.

 

[eenya001]

One of the major reasons why I believe, made in Nigeria products are more expensive than imported products in my own opinion, is availability of raw materials and the cost of production. In Nigeria they battle with various challenges, like providing electricity for their business, which would increase the cost of production.

 

[Adesuwa]

Well nowadays the rise of product in the country mostly was from cost of living in town many things price has been getting higher due to the fact that they will have to pay money for tax and so on.
In most case people prefer importing product to buy it at cheap price.

 

[Segshowee]

I have observed that our agricultural products like rice, chicken, turkey, etc or even wears are inexpensive despite transporting them into the country. What could be the reason?

The reason why some foreign products are cheaper than Nigerian made products is not far fetched. It has to do with the cost of production. The cost of production of some foreign goods is lower than the cost of producing same product in Nigeria. Thereby prompting differential in price.

 

[Oluwasube]

The cost of production for local farmers in nigeria is high and most of them do there farming on a small scale. To measure up for the energy and resources put into the business, most have to increases prices in other not to run at a loss

 

[EMMANUEL]

I think I will like to bring out my own response from this angle that looking at the exchange rate at which goods or product are purchase, it ring a be to us that some time the cause of this could be the exchange rate, and like wise let look at this also in the area of the kind of economy each country runs, when comparing the kingd of economy I guess you can then see that some country run the following:
1. Socialism economy
2. Capitalism economy
3. Mixed economy

All this economy determine the kind of rate at which things are might to be I each individual country.

 

[Youngdee]

The high rise in local product is as a result of economic crisis. Foreign product are always charged according to the rise and fall in dollar, this controls how the price of the goods will be sold when exported but local products are always very expensive because of what the economic value of the country caused. Poultry birds feeds is very expensive so you don’t expect the farmer to run at loss while selling the birds, Danes applies to livestock.

 

[KvngMurphy]

Foreign products are often cheaper than made in Nigeria products because we don't manufacture every raw material. Alot of raw materials are imported from other countries and even most of the products that are tagged made in Nigeria are not truely made in Nigeria as majority of such products are only brought into the country to be assembled before sales.

 

[tuna89]

Great question and i hope to read more comments on this interesting thread, note that made in Nigeria products may be more expensive all because the raw materials used to finish or build such products are mostly imported thereby increasing the cost of production, as for foreign goods, the foreign nations are totally dependent on themselves most of the time without importing, therefore, production is cheaper and cost of the product remains cheap even after importation.

 

[Maloney22]

It based on manufacturing cost and based on few competitors manufacturing the said product. It just like when phone sim card just came out. There were no competitors only MTN was involved then. So they could sell their product at any price they feel like

 

[mayreeh38]

Nigeria is still developing. With that being said, I can say that its not all the imported goods that are that cheap. Some imported goods are very expensive too. Sometimes and not just Nigerians alone, we want to make the gain or profit as soon as possible, and maybe thats why prices are higher then the other.

 

[Setfragil]

Foreign products are cheaper in Nigeria because foreign companies source for the raw materials they use in producing their products locally. Buying raw material locally makes their products to be more cheaper than what they sell in Nigeria because Nigerian companies source for their material abroad, the cost of shipping and some other unfavorable favorable government policies is affecting production companies in Nigeria.

Another thing that makes foreign products cheaper is that cost of production is totally expensive in Nigeria there is no electricity the means of transportation is also poor all this added to the cost of production making the products to be more expensive than their foreign counterparts.

 

[Joseph555]

Nigerians don't beat themselves then you should not be surprised about search happening the problem is that the government is not ready to take down the pains of the people that is why you will always see things of this manner going on in the country without government intervention
[automerge]1613040964[/automerge]
Nigerians don't beat themselves then you should not be surprised about search happening the problem is that the government is not ready to take down the pains of the people that is why you will always see things of this manner going on in the country without government intervention

 

[Mawome]

Imported product is no longer cheaper like before, I tell you cos our people over some of them are very greedy, they want to make ten times their game at once, thereby making things difficult for people, expecially the Les preaviledged, is too bad people are not happy over and the government is equal contributing to the suffering.

 

[Richard92]

I think the reason why flooring products are much cheaper than made in Nigeria products is because of the tax imposed on product being produced in Nigeria and the cost of raw materials price causes the high price of made in Nigeria products, but the products that are coming from outside which has been exported do not have more tax imposed on them.