Yeah, that's what happens when gamblers make decisions.

Emekamex:
It is time we start mining other mineral resources asides oil that we have a comparative advantage, this is the only short term way to improve forex reserve and it will equally act as a catalyst for other economic activities.

Even at dat, if we don't solve the issue of good road network such as railway to transport goods to different part of the country at low cost, and also, the issue of raw material being gotten at a high exchange rate enable the producers to put the burden on the consumer wic leads to cost push inflation. With this, those that also prosuce goods locally will also increase the price of their commodity just to meet basic needs.

Producing goods that we have comparative advantage over will only solve problem in the long run, not in d short run bcuz its is a capital project. With this on ground, the ministry of finance should employ fiscal measures to curb inflation by spending more on capital project such as good road network, repairing of refinery so as to refine our own oil rather than importing it at a high cost wic put pressure on the naira.

If a country like UK can afford to employ a foreigner from Canada as head of their central bank...I see no reason why we continue to employ Nigerian idiots who do no have any economic sense to run our CBN.

Buhari should go out into the global market and headhunt people that understand economics to come and help him get out of this mess he has plunged the country into.

His children are not feeling the impact of this CHIANJI!!!

Lautechgossip:
Olusegun Omisakin, the Head of Research, Nigerian Economic Summit Group (NESG), says rising inflation rate in the country has gone beyond the control of Central Bank of Nigeria (CBN).

Omisakin made the observation in an interview with the News Agency of Nigeria (NAN) on Monday in Lagos.

NAN reports that data released by the National Bureau of Statistics (NBS) on Jan.13 showed that December 2016 inflation rate stood at 18.55 per cent from 18.48 per cent in November.

Inflation targeting is a major economic policy objective of CBN and this has been the focus of its Monetary Policy Committee (MPC).

The apex bank, on July 26, 2016, increased the Monetary Policy Rate (MPR) by 200 basis points from 12 per cent to 14 per cent to check inflation.

The CBN retained all key indicators at its September and November MPC meetings to keep MPR at 14 per cent, Cash Reserve Ratio at 22.50 per cent and the Liquidity Ratio at 30 per cent, all aimed at controlling inflation.

Omisakin said that the rising inflation had defied CBN’s monetary policy measures, adding that policy tools adopted by the apex bank were only effective in taming inflation arising from demand-supply imbalances.

“In this case, inflation is cost-push. Production cost is high because producers who want to import intermediate goods for production do not have access to foreign exchange.

“Most of them go to the black market and definitely the product from this would be expensive, thereby increasing inflation.

“The CBN cannot do anything through the monetary policy rate to arrest this inflation even if CBN increases the MPR to 20 per cent. Inflation would not come down.

“The inflation we are experiencing now is out of the control of CBN. CBN can only address issues that have to do with availability and circulation of money and credit control.

“CBN cannot address cost-push inflation because it cannot provide energy, roads, transport. There are fiscal issues,” Omisakin said.

The economist urged the CBN to formulate policies that would boost industrial production and economic growth in view of the current economic recession.

Omisakin called for coordination of fiscal and monetary policies to check the rising inflationary trend in the country.

“The rising cost of food, transport and energy will reduce if the Federal Government creates concrete fiscal policies with effective implementation to address the situation through increased investment in infrastructure and agriculture,” he said.

The expert said that speedy passage and effective implementation of the 2017 budget would stimulate economic activities.

http://www.kikiotolu.com/2017/01/expert-says-inflation-is-out-of-cbns.html

sorry didn't bother to read because CBN frigging Caused the bloody inflation by devaluing the naira severally for their benefit

They claimed it was for foreign investors but the investors didn't come instead the CBN staffs, families, friends and government officials are benefiting from the CBN policies

Anyways to curb the Inflation All They need Do is Reverse all they've Done do far

Wait ooo. . . If it is out of their hand, then is it in my hand otherwise where is it. . . Lol

Expert your answer plzzzzz

pinkcottoncandy:
If a country like UK can afford to employ a foreigner from Canada as head of their central bank...I see no reason why we continue to employ Nigerian idiots who do no have any economic sense to run our CBN.

Buhari should go out into the global market and headhunt people that understand economics to come and help him get out of this mess he has plunged the country into.

His children are not feeling the impact of this CHIANJI!!!

They cannot accept the truths and facts a non partisan, non cultural, non traditional person will tell them. Have they and their minions not been running down the advice and advances of western and international monetary and financial houses. Do they think they are run by robots. They say 1 plus 1 equals 2. Nigerians have been fighting since 2015 to ensure it equals 3 while their public purse decays.

Ekakamba:
I hope I didn't take anyone's space....
They way folks write 'First to comment' ehn.. ..
I thought FTC is better than orgasm but.. ........ Mtcheeew .

after forwarding your account number!! If u don't get alert, notify us! We will follow it up

gocac:
An illiterate (BUHARI) and two semi-literates (CBN GOV & Minister of FIN) have ruined my country....

it is buhari that didn't build roads and power infrastructure ba