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World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises - Business (3) - Nairaland

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Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by Nobody: 6:51am On Jun 16, 2021
Wakanakarue:
Beans used to be one of the cheapest grain per rubber, I remember when it was sold for 350 and later 450 per custard rubber.... Even then we said it was expensive. Now it goes for 1300.if Nigerians were real people, we would have shut down this country.

Still they want to remove subsidy and increase electricity tariffs, how insensitive can these apc guys be?

They want to remove subsidy and increase tarrifs, because the amount of money we are earning from oil is not enough for our large population.

And it is from that money that we pay for subsidy on petrol and partial subsidies on power.

And paying the subsidy is forcing us into more debt.

Either we remove subsides, or we take more loans, or we raise taxes, and tax everyone, including people in the informal sector, to pay for subsides on petrol.

(And yes, I FULLY agree we should cut governance costs, and end corruption, but even then the money raised would not be enough to pay for the subsidy on petrol for one year)

1 Like

Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by landforeast(m): 6:52am On Jun 16, 2021
The Economy get as it be, inflation is going up daily no wonder people are now buying up Landed properties to secure their wealth from the adverse effects of inflation
Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by Eriokanmi: 6:53am On Jun 16, 2021
Image123:


Because we have economists that can play figures to the gallery. Numbers that don't reflect the common man's reality can only get us that far.
Lool...play figures to the gallery, i love that. But that's the reality on ground. Manipulative economists
Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by sulaak(m): 7:03am On Jun 16, 2021
post=102770519:
The central bank should aim for greater flexibility by reestablishing a dollar interbank market, effectively allowing banks to trade currency on their own behalf to increase liquidity and move toward a single rate.


The two Nigerian Minister of Finance, Economic Coordination(Strategy) and Budget(Planning) is Zainab Shamsuna Ahmed appointed on 14 September 2018 in Abuja. Nigerian President Muhammadu Buhari accepted the resignation of his Finance Minister. Both Kemi and Zainab have very limited experience working at this level.

Duties of the Minister

Preparation of annual budgetary estimates of revenue and expenditure for the Federal Government.
Determination of Federal Government fiscal policies.
Mobilization of domestic and external financial resources for national development purposes.
Management of foreign exchange reserves.
Management of Federal Government revenue.
Currency valuation.
Regulation of the insurance industry
Revenue allocation management.
Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by CSTRR: 7:18am On Jun 16, 2021
Lagging behind even africa.

Congratulations Buhari.
Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by ModeXug: 7:23am On Jun 16, 2021
Iz Olite!

BuBu keep breaking records.

What can I say grin
Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by musa234(m): 7:33am On Jun 16, 2021
post=102770519:
The central bank should aim for greater flexibility by reestablishing a dollar interbank market, effectively allowing banks to trade currency on their own behalf to increase liquidity and move toward a single rate.
let Allah judge you and those you support because of monetary gains because your hypocrisy stinks more than anyone can ever imagine.

1 Like

Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by musa234(m): 7:35am On Jun 16, 2021
Beancounter93:


They want to remove subsidy and increase tarrifs, because the amount of money we are earning from oil is not enough for our large population.

And it is from that money that we pay for subsidy on petrol and partial subsidies on power.

And paying the subsidy is forcing us into more debt.

Either we remove subsides, or we take more loans, or we raise taxes, and tax everyone, including people in the informal sector, to pay for subsides on petrol.

(And yes, I FULLY agree we should cut governance costs, and end corruption, but even then the money raised would not be enough to pay for the subsidy on petrol for one year)
Are the leaders honest? Won't the money be looted and relooted?

2 Likes

Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by LagbajaTheBEREAN: 7:54am On Jun 16, 2021
It's high time the FG ban World Bank too....


After all, they are against Nigeria corporate existence..

Na wetin one Ju man for area yarn bi dat juz now juz now...
Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by Harmattan123(m): 7:55am On Jun 16, 2021
Bekermann:
It's a crazy country we live in now.

Meanwhile I have this brief
For Sales:

A newly renovated 4 Nos. of ThreeBedroom Flats sitting on a plot of land measuring 697sqm.

Location: Itunu Ayoade Street off Fasheun Street, Okota, Lagos state.
Title: C of O plus Deed of Assignment.
Price: NGN70m

Also contact us for estate surveying and valuation services.
Check up my profile for other properties I have for sales/rent.
Since you know that
"It's a crazy country we live in now"
Lemme give you
NGN 1.7m
Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by Trueteller0147: 7:59am On Jun 16, 2021
You are one of Nigeria problem. I wish I know you in real life, I would have let you know how stupid you have always being. You are a disgrace to the youth and literate Nigerians.
post=102770519:
The central bank should aim for greater flexibility by reestablishing a dollar interbank market, effectively allowing banks to trade currency on their own behalf to increase liquidity and move toward a single rate.

1 Like

Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by AerialMapper: 8:19am On Jun 16, 2021
The Presidency bans World Bank
Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by obinna58(m): 8:22am On Jun 16, 2021
The problem is the government but not just the government



Africa is ruined with anger and aggressiveness, minors can not even ask a simple question without being bashed
Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by Wakanakarue: 8:23am On Jun 16, 2021
Beancounter93:


They want to remove subsidy and increase tarrifs, because the amount of money we are earning from oil is not enough for our large population.

And it is from that money that we pay for subsidy on petrol and partial subsidies on power.

And paying the subsidy is forcing us into more debt.

Either we remove subsides, or we take more loans, or we raise taxes, and tax everyone, including people in the informal sector, to pay for subsides on petrol.

(And yes, I FULLY agree we should cut governance costs, and end corruption, but even then the money raised would not be enough to pay for the subsidy on petrol for one year)


They only interested in the areas that affects the citizens the most. A serious government should lead by example, when you say revenue is shrinking but you still want to keep your allowances and huge salaries, expensive pecks, exorbitant pensions to politicians, spending on frivolities then, you re obviously not ready. They still want to maintain their frivolous lifestyle, keep corruption but cut subsidies.... It clearly shows that they are not ready yet.
Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by Bekermann(m): 8:28am On Jun 16, 2021
Harmattan123:

Since you know that
"It's a crazy country we live in now"
Lemme give you
NGN 1.7m

Lol. I can give you that amount as rental value. Not sale price. wink wink wink
Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by Patfavour: 8:30am On Jun 16, 2021
Buhari, d only President to have plunge Nigeria into two recession.
Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by Yankee101: 8:38am On Jun 16, 2021
No

Corruption and insecurity are the root causes of everything
Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by Ipisi(m): 8:40am On Jun 16, 2021
Bekermann:
It's a crazy country we live in now. Wow. FTC for the first time. I dedicate this to hustling young people trying to make ends meet despite the odds against us in the harshest economic realities in the country since independence. E go be.

Meanwhile I have this brief
For Sales:

A newly renovated 4 Nos. of ThreeBedroom Flats sitting on a plot of land measuring 697sqm.

Location: Itunu Ayoade Street off Fasheun Street, Okota, Lagos state.
Title: C of O plus Deed of Assignment.
Price: NGN70m

Also contact us for estate surveying and valuation services.
Check up my profile for other properties I have for sales/rent.

Wow... I'm interested in this deal
Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by Chinnems(m): 8:41am On Jun 16, 2021
post=102770519:
The central bank should aim for greater flexibility by reestablishing a dollar interbank market, effectively allowing banks to trade currency on their own behalf to increase liquidity and move toward a single rate.

Unbelievable!
����
Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by NewDawn2O21: 8:50am On Jun 16, 2021
benweezy:
Buhari and APC keep setting on unwanted record shocked
but un go still vote am again during the next election
Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by omohayek: 9:43am On Jun 16, 2021
Beancounter93:
So basically, the suggestion for CBN is



In other words...the CBN should , in essence , end the official rate, and allow banks and everyone get dollars on their own terms.

The downside, IMhO, is possibly the value of the naira would fall vs the dollar.

They, in essence, want us to float the naira freely.
Don't blame any fall in the Naira's strength on whether it's allowed to float or not - that is simply a matter of recognizing it's true value (and putting a stop to the subsidization of dollars for a lucky few). To say allowing the Naira to float would see its value continuously drop is like saying allowing the price of rice to be determined by the market would see it become more expensive than gold - either claim would only be true if both the demand for Dollars/rice and the supply of Naira to pay for them were limitless.

It's that second point that gets to the heart of Nigeria's problem: the FG, with the connivance of Emefiele's "independent" (in name only) CBN, is recklessly printing money to cover the hole in its finances which can't be met through even more borrowing, so ever more paper is chasing a stagnant supply of goods and services, leading to runaway inflation. That inflation is the true cause of the Naira's never-ending decline, not allowing the market to set its value. If the market were really to blame, wouldn't inflation and the Naira's rate of decline have been better under Emefiele, who has never allowed the "official" rate to track the "black market" rate, than it was under his predecessors? Yet precisely the opposite is true.

3 Likes 1 Share

Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by omohayek: 9:49am On Jun 16, 2021
sulaak:



The two Nigerian Minister of Finance, Economic Coordination(Strategy) and Budget(Planning) is Zainab Shamsuna Ahmed appointed on 14 September 2018 in Abuja. Nigerian President Muhammadu Buhari accepted the resignation of his Finance Minister. Both Kemi and Zainab have very limited experience working at this level.

Duties of the Minister

Preparation of annual budgetary estimates of revenue and expenditure for the Federal Government.
Determination of Federal Government fiscal policies.
Mobilization of domestic and external financial resources for national development purposes.
Management of foreign exchange reserves.
Management of Federal Government revenue.
Currency valuation.
Regulation of the insurance industry
Revenue allocation management.
Yet another example of "reasoning" motivated by tribalism. The ultimate arbiter of money-supply, exchange-rate and interest-rate policy in Nigeria is Godwin Emefiele, who you've conveniently chosen to overlook in allocating blame. Worse yet for you, Emefiele is by statute independent of control by Buhari, so in principle he could choose to implement sensible policies to crush inflation and stabilize the Naira's value, yet he prefers to act like an errand boy for Aso Rock anyway, indicating a truly disturbing weakness of character alongside his long manifest incompetence. But you and your tribalistic ilk will never accord him the blame he's due, seeing as in your eyes your "kinsmen" can never do wrong, while everyone else must be to blame at all times.

2 Likes 1 Share

Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by pacespot(m): 11:06am On Jun 16, 2021
As we are debating minimum wage, but why can't the government control the maximum prices which certain essential goods are sold in the market. Most of this inflation are caused by Nigerian greed. Some people have used the rising cost of dollars to inflate their prices by 2X or even 4X of what they bought. How can you justify the selling of ordinary bread-burn burger for N9k in Lagos?
Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by orriyomi33(m): 11:19am On Jun 16, 2021
Population growth at 2.6 percent/year nmeans we have an additional 5.2 million increase in the polpulation of the country. We are in for long thing if the gov't doesn't adopt population control measures.

1 Like

Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by dederocs(m): 11:56am On Jun 16, 2021
Wakanakarue:



Nah, this current government and their ineffective and body language inspired policies are our biggest enemies
Stop talking nonsense, WTO, World bank and IMF has never been about Nigeria or Africa's interest...ever since we joined IMF and took loans, our economy started crumbling cos of the trade conditions you must sign. These conditions seeks to take from us, always.
Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by Bekermann(m): 11:59am On Jun 16, 2021
Ipisi:


Wow... I'm interested in this deal

Pls kindly drop a message on WhatsApp via the number at signature. Thanks.
Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by beyondPen(m): 12:14pm On Jun 16, 2021
post=102770519:
The central bank should aim for greater flexibility by reestablishing a dollar interbank market, effectively allowing banks to trade currency on their own behalf to increase liquidity and move toward a single rate.

Funny enough they won't allow it. Their way of attaining power.
Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by Wakanakarue: 12:14pm On Jun 16, 2021
dederocs:

Stop talking nonsense, WTO, World bank and IMF has never been about Nigeria or Africa's interest...ever since we joined IMF and took loans, our economy started crumbling cos of the trade conditions you must sign. These conditions seeks to take from us, always.

And your stupidity didn't allow you see that our government too have been about too many bad policies. Square pegs in round holes won't get us out, maybe we should then remain backward in perpetuity because of world Bank, imf trade conditions. Need ị remind that there are many other countries even in Africa who are deliberate about economic growth of their nation and who took loans too.
Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by gheekhone: 12:30pm On Jun 16, 2021
Even Buhari, himself, is blaming Goodluck Jonathan. Go figure.


general111:
Nigeria is retrogressing, but buhari's supporters are still blaming Goodluck jonathan..
Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by dederocs(m): 2:08pm On Jun 16, 2021
Wakanakarue:


And your stupidity didn't allow you see that our government too have been about too many bad policies. Square pegs in round holes won't get us out, maybe we should then remain backward in perpetuity because of world Bank, imf trade conditions. Need ị remind that there are many other countries even in Africa who are deliberate about economic growth of their nation and who took loans too.
You very stupid if your bigoted brain can not tell you that Buhari is there for a short time, but IMF policies will be here for long, if we don't fight them. Bloody Ipobian
Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by Wakanakarue: 3:12pm On Jun 16, 2021
dederocs:

You very stupid if your bigoted brain can not tell you that Buhari is there for a short time, but IMF policies will be here for long, if we don't fight them. Bloody Ipobian

Now you have shown your foolishness hope it gives the much needed erection. So anyone who's talks about governance failure is ipob. A tribalist calling someone a tribalist, how convinent. Keep massaging your foolishness while telling pathing yourself. Maybe you should tell me what effort this current administration have made to get Nigerians out of acute poverty, you should also blame IMF and World Bank for insecurity nationwide. Since you ve made up your mind to die stup.idity, enjoy your dea.th then.

1 Like

Re: World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises by Gfskw: 5:01pm On Jun 16, 2021
Really

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