fr3do:
Somebody sai baba
somebody sai baba



some people should have put their eggs in one basket o.

Buhari is incapable of running this country, he should resign!

kinmarax:
I am intested in sound and profitable business ideas from smart Nigerians within a decent investment threshold. Please, I will really appreciate if you can send me a detailed plan of the business, the cost implication (office rent inclusive), the profit margin, the partnership terms and expected time to break even to enable me make an informed decision about investing. Am looking at an initial investment of a little over a million Naira and subsequent investment depending on the profitability. Contact me on: sundayjiana@yahoo.com please ensure you drop your phone number should I require further clarification. Thank you
my email: sundayjiana@yahoo.com

berrystunn:
So Buhari study this and approved

Am sure 120*% he did not understand.

Joking with 180m people.

Firefire:


This is no longer an inflation but hyperinflation. => 87.3% increase within 1 Yr ?.

cecegorz:

Nice one bro.
The YoY analysis puts the super increasing inflation into proper tangent.
Looking at just the June headline of 16.% looks mild, in as much as i know it's a conservative figure.

I can imagine with 14% MPR, by the time banks adjust lending rates upwards, many more borrowing businesses will just DIE for failure to meet up with their debt obligations.

This is really the time for people to tighten their belt, it's gonna be a long long rough ride ahead...

danjumakolo:
This simply means CBN will take deposits from banks at 12% then give loan to banks at 16% making CBN to make a spread of +4....on the other side banks will review their lending rates higher to make up for the hight cost of funds from CBN...
This monetary tool sbud bring down the inflation rate as there will be a downtrend in liquidity.But because naija economy is witnessing stagnation and inflation at the same time,this consumer price index may not go down

eddyjibs:
Them go avoid this thread like plague. Olodos. No wonder buhari see dem scam

kinmarax:
I am intested in sound and profitable business ideas from smart Nigerians within a decent investment threshold. Please, I will really appreciate if you can send me a detailed plan of the business, the cost implication (office rent inclusive), the profit margin, the partnership terms and expected time to break even to enable me make an informed decision about investing. Am looking at an initial investment of a little over a million Naira and subsequent investment depending on the profitability. Contact me on: sundayjiana@yahoo.com please ensure you drop your phone number should I require further clarification. Thank you
my email: sundayjiana@yahoo.com

Adesiji77:

http://businessdayonline.com/monetary-policy-committee-raises-mpr-to-14-2/ lalasticlala, dominique, Mynd44, davide470, Truth234

Seun:
Ok, there is no longer any doubt about the fact that these guys are bleeps. What the Bleep is wrong with them? How can you drastically raise the MPR after acknowledging that the country is in a recession? These ppl will wreck the economy completely if something drastic is not done.

waice6571:


What happened to open window policy for trading # as against $?

What is the matter with #50 constitutional backed postage stamp duty policy?

Increment on import duty and export duty.

Increment on Electricity tariff.

Fuel subsidy removal.

More companies and individual inside tax web.

All of these and other unannounced policies in just 1year Yet, life is becoming unbearable for the masses daily.

I see all these measures as a deliberate attempt to KEEP PEOPLE IMPOVERISHED so as to compound their already worse inferiority complex.

Seun:

Ok, there is no longer any doubt about the fact that these guys are bleeps. What the Bleep is wrong with them? How can you drastically raise the MPR after acknowledging that the country is in a recession? These ppl will wreck the economy completely if something drastic is not done.

kafeii123:
Emefiele and Buhari thought macroeconomics cares any hoot about "Body Language" or blind patriotism (Buy naija to grow naira abi how dey been advertise am sef).
http://nairametrics.com/emefiele-needs-to-do-this-one-last-thing-to-attract-foreign-investors/
and rather than to stimulate growth, our CBN governors (Buhari+emefiele+shadow bizmen) decided to go chasing inflation as if the price of anything in Nigeria has ever gone down in recent history.
NDA and their sister avengers on the other hand are just bleeping stupid except if they're stealing oil to go sell abroad in which case one may hope some "unbooked" dollars is entering this country without reaching Abuja for sharing and this, if not for the accompanying environmental damage I wont mind.

JAkpayen:
@Seun & Truth234,
As CBN governor which will you combat first between Higher Inflation and Higher Unemployment? I bet you unemployment will not skyrocket but rather workers pay may be reduced so that unemployment is avoided.


Bolded: the CBN policy to increase MPR to 14% is aimed at stabilizing the economy amidst skyrocketing prices.

JAkpayen:
@Seun & Truth234,
As CBN governor which will you combat first between Higher Inflation and Higher Unemployment? I bet you unemployment will not skyrocket but rather workers pay may be reduced so that unemployment is avoided.

kafeii123:


an MPR increase speaks only in favour of attracting FDI as I see it, yet that alone is just one out of many things that gurantees FDI. Even if I'd gain 100% in six months, I'd think more than twice before sinking my money in a place where I wont find it easy to get my money out whenever I want to, so other fiscal polices must accompany this policy else it may perform far below hopes.

Reducing workers' pay is a rare occurrence in this country if it at all ever happens.
And despite the banning and un-bannings, demand for most of the banned items has hardly abated, the bans have only succeeded in profiting smugglers, corrupt customs officials and others close to power.

I'd support the cbn removing all controls to eliminate arbitrage but the opportunists are hip-joined to those in charge so "over their dead body" and the rich don't die easily

JAkpayen:

Do you know that the US FOMC had planned to increase its rate? Reason was to return core inflation to 2% and they watch improvement in labor market as a criteria. Does this mean they want to attract FDI? NO.

It is the FG that can attract FDI into the economy and create the conducive environment to improve employment but because we have non-existent or weak macroeconomic policy in place, hence the situation of the economy. In its decision, the MPC stated that they want to stabilise price and the financial system thus inflation needs to be controlled. Let's wait until the end of this quarter to see if things improve. I'm sure if the economy improves by their next meeting in September, the tone might change.

The Committee’s Decisions

The MPC, recognizing that the Bank lacked the instruments required to directly jumpstart growth, and being mindful not to calibrate its instruments in such a manner as to undermine its primary mandate and financial system stability, in assessment of the relevant issues, was of the view that the balance of risks remains tilted against price stability.

Consequently, five (5) members voted to raise the Monetary Policy Rate while three (3) voted to hold.

In summary, the MPC voted to:

(i) Increase the MPR by 200 basis points from 12.00 to 14 per cent;
(ii) Retain the CRR at 22.50 per cent;
(iii) Retain the Liquidity Ratio at 30.00 per cent; and
(iv) Retain the Asymmetric Window at +200 and -500 basis points around the MPR