CreekCommando:

That's voodoo economics. All countries' external reserve are in the US dollars. So, they can print more and its inflationary effect will be absorbed by many countries'. That's why Sanusi advocated for us to save 10% of our reserve in Chinese Yuan. But who can trust China?

NwaNimo1:
lol.....mad man.

Inflation nko?

Tumbulum:
have you heard of cash repatriation? Apply manufactures and assembles its phone in china,sell to the rest of the world including US and repatriate the cash to the united states.

TheStarsAlign:


See, there is already an X amount nof money in the economy (this icludes Tinubus, Dangote, Otedolas etc money). ie TMS1, the total money supply needs to move to TSM2 to have wider reach/impact.

TSM = Total Money Supply ie the total amount of money in an economy at any particular time.

iCauseTrouble:
This Corona Virus dey funny I swear. One woman wey dey sell hand sanitiser for my area don test positive

Herdsmen:
A thief will always be a thief

No be his mates Dey donate salaries cash materials
This crook na to loot Dey his mind.

Print more naira notes ... while your bullion van keep increasing fro 3 to 10.

Corona locate you.

rusher14:
Why is it that the badly educated are the first to air their opinion on issues beyond their comprehension on this forum?

America has implemented quantitative easing- printing of more dollars to absorb the effect of Coronavirus on their economy.

If the US can do that, and Nigeria itself bases a lot of its commodities on the value of the dollar, why shouldn't we print more Naira representative of the volume printed of the dollar?

neoclassical:
It does not make economic sense even in the case of US. But remember, in economics, there are variables you have to factor in before drawing your conclusions, though some may be stochastic.
First, US has a higher Special Drawing Right (SDR) from International Monetary Organizations than a less developed nation like Nigeria and therefore can absorb external economic shocks because of its advantage in purchasing power parity. Nigeria's external reserves cannot be compared to that of US which can be used to offset balance of payment disequilibrium.

MT:


You cannot just repatriate cash from an economy. MTN tried it with Nigeria and they faced a serious backslash from Nigeria. There are laws and policies that need to be followed. You cannot tell me the US will just repatriate cash from a US-owned company based in China without following standard procedures and policies in China.

Tumbulum:
There is a procedure for cash reparation. Why go to another mans land to make wealth when you cannot take some of it back to your home ?

SaintChukz:


Oga stop taking that weed, it is too strong for you eh!.

What's the relationship between TMS1 and TSM2?

rusher14:


The word was not invented this year but It was further truggered as soon as the effect of Coronavirus began to take its toll on the economy.

Funny enough, the rest of the world would be printing money too.
How much quantitative easing have we done in the UK?

Following the programme of QE announced in March 2020, our purchases of government bonds will total £645 billion.

Rounds of QE have been announced in response to the economic conditions at the time. This graphic shows how bond purchases have built up over the years:




So do we keep our currency at same level whilst the rest of the world "prospers"?


Many of you like to argue just for the sake of it.

CreekCommando:

Your opinion is voodoo economics! All countries' external reserve depends on the US dollars. Whatever inflationary mess the USA creates could be shared and absorbed offshore. And their PMI is very robust when it comes to export. But here, any inflation created will badly affect the economy further because you import everything.

fyneguy:


Are you an economic expert? Why is it right for the US and wrong for us?

MT:
I really need to know as this is not my turf. Why does the the US get away with printing more dollars to save her economy?. Do the laws of micro economic not applicable to US in this case? . Please I will need to be genuinely educated in this area.

1x2x3:


Ka ogbe ibu?

Mutemenot:


Ada ogwashi, how you dey prepare for shut down for delta so ?

Precious4real50:
Azungwu

MT:


While i wont dismiss what you wrote because like I said , it's not my turf, but your submission raises more questions than it answers. Are you implying that the entire world financial institutions and regulatory bodies have accepted that the US could just print money arbitrarily to save her economy anytime there is a crisis just because the dollars is the defacto global currency. If this is acceptable, then there is no need for the US to want to industrialise the country as they can just snap their fingers and ask the central bank to print more dollars. Infact they should not be in competition with China as they can easily print more dollars. Please I will like you or any other economists here to shed more lights. Thanks for your contributions as I just want to learn something very new.

Wasky101:

Same applies to me how, I didn't wish u anything now,
I am only saying u have more economic sense than a former accountant with Deloitte, Arthur Andersen and Mobil. Emekaaaaaa I know say one day u go make us proud

Oshigun:


Bruv, read three pages of this thread and I am still shocked and shaking head at how it is terribly ignorant posters hurling the most vitriolic insults. The lack of humility of Nigerians on show here is amazing and scary because it indicates we have a nation full of hateful and 'lynch mob' ignoramuses rather than solutions providers.

What Tinubu is suggesting is a form of financial easing available to Central banks, as one of the last resorts for situation like this, called "Helicopter money".

Even a minute of research would have cured many of there ignorance. Yet once Tinubu speaks many, especially from the SE, just rush blindly to say the opposite and insult Asiwaju.

Many should put aside hate and objectively read the summarized article below specifically about economic stimulus options that can ease the havoc Covid-19 is capable of wreaking.

It will become immediately clear why Asiwaju, far ahead of his peers, should be President and that it is only hate preventing some from seeeing/accepting this. I pity Nigeria and Nigerians sha.


https://www.google.com/amp/s/www.cnbc.com/amp/2020/03/17/coronavirus-how-much-firepower-central-banks-have.html



https://www.ig.com/en/glossary-trading-terms/helicopter-money-definition.... they are not ignorant as you claim. You are also ignorant of the consequences of helicopter money or just printing money.

Oshigun:


You are the one who is not wise. Tinubu is suggesting that this is a legitimate option. World class economists happen to agree with him and not you isale Eko experts. Are you talking of inflation when we are discussing a pandemic that could render money worthless and people scavenging in the streets for food if the worst happens?

When all is lost, printing money is an option because it directly puts money, as legal tender , in the hands of people to acquire what they need urgently.

At that stage, protecting the value of money is pointless because if people do not get it to spend then they would simple get into beast mode and take to the streets to violently and forcefully commandeer what they need.

Let us see what will happen if area boys have no food and no money to buy their way out of hunger. We will see what your focus on inflation will be worth then.