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Bismarck Rewane: Naira Redesign May Cause GDP Fall But Not Increased Inflation - Business (4) - Nairaland

Nairaland Forum / Nairaland / General / Business / Bismarck Rewane: Naira Redesign May Cause GDP Fall But Not Increased Inflation (16319 Views)

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Re: Bismarck Rewane: Naira Redesign May Cause GDP Fall But Not Increased Inflation by Agbegbaorogboye: 8:20pm On Oct 28, 2022
GreyLaw:


Inflation and debt and you burn through over 50bn from which savings? And this for a policy which may not work? Oga, all the times Nigeria changed the Naira, how did it help fight inflation. Please mention a case study.

Thank you in advance.
This one choke o.
Well, the reason for re-denomination is not always to curb inflation. But most times Nigeria have changed the currency, it has actually achieved it's purpose including during the war, which effectively rendered Biafra broke.
You think the cost is too high to fight inflation. Well if it works, I think 50bn will be a cheap price to pay don't you think?

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Re: Bismarck Rewane: Naira Redesign May Cause GDP Fall But Not Increased Inflation by Ijb11: 10:00pm On Oct 28, 2022
Hmmm
Re: Bismarck Rewane: Naira Redesign May Cause GDP Fall But Not Increased Inflation by Horlufemi(m): 7:12am On Oct 29, 2022
jasent:

Why will they buy naira when they can still exchange their dollars to the new naira?

No mind am. Many people can only read and write. They don't have sense, wisdom or any intelligence

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Re: Bismarck Rewane: Naira Redesign May Cause GDP Fall But Not Increased Inflation by Brian47(m): 12:47pm On Oct 29, 2022
Michelle70:
One reason why dollar appreciates is because it is difficult to find and the demand for it is high.

In simple economics, the higher the demand, the higher the price.

In few months now, the demand for the new Naira will be high.


So you're saying that this move would increase our naria value?
Cos I was thinking any 1k that enters my hand I'll be converting them to dollar.
Re: Bismarck Rewane: Naira Redesign May Cause GDP Fall But Not Increased Inflation by AlphaTaikun: 2:38pm On Oct 31, 2022
Agbegbaorogboye:


You're saying the same thing as he is only in another way. The idea behind redesigning the naira is obviously to curb inflation and mop up the excess naira in circulation through CBN's printing policy.

It will definitely lead to fall in inflation as you said and of course fall in GDP as he said. Where I don't see a problem is, the GDP is already fallen so you can't kill a dead man.
Re: Bismarck Rewane: Naira Redesign May Cause GDP Fall But Not Increased Inflation by LilleG(m): 10:53pm On Dec 17, 2022
Is this our problem?

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