Eastactivist:
Why should ignorant folks be granted interviews by some foolish medias.
This man vituperations is reeked with sheer ignorance.
So many flaws.

Seenyo:
Instant resignation of the dumb nomad n crew 'll be the best panacea to rectify the status quo!
Nig is fast heading south!!

bettercreature:

This man is just clueless.I have never heard of higher oil price having negative effect on oil producing country since i was born

AK284:


SERIOUSLY you called this ignorant, then you a clueless ignoramus.

Icon4s:


It is "bell".

To topic. As rightly said by Henry Boyo, the current CBN monetary policy is what is killing our economy.

hisgrace090:
Which way naija? Who will bail the cat.
CBN what is wrong with you.

CuteTj:

@ FerdinandChime1

Let me explain what he meant by the statement of yours I quoted.

You and I both know that Nigeria does not refine the oil we consume but now import all we use despite being an oil producing country. When oil dropped to 50 something dollars, obviously the landing cost and other associated costs of also dropped that was why Jonathan was able to reduce oil price from N97 to N87. When Buhari took over, he increased fuel price to N145 as he removed subsidy as Nigeria was wasting money on a few nigerians at the expense of millions of other Nigerians. Now that Oil price has risen back to 50 something dollars, the landing cost and other associated cost obviously has definitely increased (when converted to Naira).

What Henry is now saying is that since oil price is now 50 something, it is either government reintroduces subsidy because if they don't, petrol price in naira will increase and you and I know that petrol is the major determining factor of prices of other commodities in Nigeria.

What do you think is a major contributing factor of inflation in Nigeria? Petrol because we use petrol to move around, move goods around and also power our generators because of no light.

So as oil prices continue to increase, and we continue to import all our needs and not refine any, the increase will have a negative effect on Nigerians as the cost burden will be passed on to Nigerians since there is no more subsidy.

I believe with my explanation, you should understand what he's saying.

castel428:

It is 'bail' Mr Sabinus.

TheSpellChecker:


It's bell, not bail.

Icon4s:


It is 'Who can Bell the cat' and not 'Who can bail the cat'. Take this correction now and thank me later.

This expression originated in one of Aesop's fables as retold by William Langland in Piers Ploughman (1377), in which the mice decide to put a bell around the cat's neck as a warning device but then can find none among them who will actually do it.

https://www.google.com.ng/#q=who+can+bell+the+cat

Eastactivist:
Why should ignorant folks be granted interviews by some foolish medias.
This man vituperations is reeked with sheer ignorance.
So many flaws.

bettercreature:
You are both wrong! the landing cost has nothing to do with price of oil! swap deal does not change either price increase or decrease.The problem here is the exchange rate.NAIRA/$ exchange is the major problem if you ask oil marketers
We are not buying refined oil anymore we are swapping it
When GEJ was there it was selling and buying back but that is not the case at the moment

kaeforum:


Listen to yourself, what he said is true.

I don't know why your brain is in your stomach, what is your Cbn governor doing about the economy.?

Central Banks all over the world control inflation, but ours is fueling it, wait till the end of the 1st quarter we shall see who is right.

Eastactivist:


By now you should have known that the onus of economy revival lies on the shoulders of Finance minister, I guess I was wrong with my conviction. The zombiness has really upgraded as against downgrading as a result of hunger...
Now in your Phantom world central bank don't take orders from finance ministers right?? Keep deceiving yourself. Mpama

kaeforum:


Central bank governors don't take orders from the Finance Minister,they re autonomous.

FYI we don't have a Finance minister.

I agree they ought to be autonomous but in Nigeria executive and legislatures usually interfere or better still can prefer policies that mandates CBN to implement...
Besides I thought kemi is the minister of Finance?

Icon4s:


Tell them o.
I think the native tongue of pronouncing 'bell' as 'bail' (igbotic) affected them.

cc: Caskel428

bettercreature:
You are both wrong! the landing cost has nothing to do with price of oil! swap deal does not change either price increase or decrease.The problem here is the exchange rate.NAIRA/$ exchange is the major problem if you ask oil marketers
We are not buying refined oil anymore we are swapping it
When GEJ was there it was selling and buying back but that is not the case at the moment

Eastactivist:

I agree they ought to be autonomous but in Nigeria executive and legislatures usually interfere or better still can prefer policies that mandates CBN to implement...
Besides I thought kemi is the minister of Finance?

kaeforum:

This Didnt Happem During Sanusi's Time. Kemi's Just A House Help.

CuteTj:

@ FerdinandChime1

Let me explain what he meant by the statement of yours I quoted.

You and I both know that Nigeria does not refine the oil we consume but now import all we use despite being an oil producing country. When oil dropped to 50 something dollars, obviously the landing cost and other associated costs of also dropped that was why Jonathan was able to reduce oil price from N97 to N87. When Buhari took over, he increased fuel price to N145 as he removed subsidy as Nigeria was wasting money on a few nigerians at the expense of millions of other Nigerians. Now that Oil price has risen back to 50 something dollars, the landing cost and other associated cost obviously has definitely increased (when converted to Naira).

What Henry is now saying is that since oil price is now 50 something, it is either government reintroduces subsidy because if they don't, petrol price in naira will increase and you and I know that petrol is the major determining factor of prices of other commodities in Nigeria.

What do you think is a major contributing factor of inflation in Nigeria? Petrol because we use petrol to move around, move goods around and also power our generators because of no light.

So as oil prices continue to increase, and we continue to import all our needs and not refine any, the increase will have a negative effect on Nigerians as the cost burden will be passed on to Nigerians since there is no more subsidy.

I believe with my explanation, you should understand what he's saying.