seunmsg:

The idiotic Reno Omokri didn't mention Peter Obi's name today, maybe he missed his period, ewu Gambia, eleribu somebody...

I don't know when this idle man became CBN and Minister of finance spoke person, idleness is a disease, Remote need cure.

so that means naira is ona free fall and would probably reach 1k5 to 2k by December. those abroad, its time to double your hustle.

Revolution2022:
Are you the CBN governor pastor omokri?

Smiles. . .
The imbe.cile man(RENO OMKRI) wan create FOMO so people will panick and buy $USD
Only for cbn to dump on person head
SMH!

manutdrichie:
Idiot that has no single investment here apart from spewing propaganda for a fee

Author of bestseller book that is not found anywhere 😂😂

Can't laugh oooo. That man is useless and senseless

Gajagojo:


You clearly have no clue what you are talking about

Interest rate has no impact on inflation in
Nigeria

We have no consumer credit or mortgage system

If a business is borrowing at 25% how much profit will they make

In short you are say shut down the economy
Because it is mostly businesses that borrow
Inflation in Nigeria is largely a function on dollar exchange rate not interest rate

What you are suggesting is crazy and stupid
We need to target credit at critical sectors
If our industries borrow at 25%_ in a globalised world how can they ever hope to compete against imports from countries with 5% interest or even subsidies like agriculture in the EU, USA,CHINA

WE cannot have any agriculture with 25% interest

Interest rates do have an effect on inflation in Nigeria especially in mopping up excess funds in Nigeria

What I am speaking is pure economics and not what I like.

The CBN knows what to do but I suspect the president is against an increase in interest rates. He has already said he wants low interest rates.

The standard practice globally when inflation is high is to increase the price of treasury bills to a point it brings inflation to the central bank's desired level. Presently, inflation is 26%. The CBN will need to increase interest rates to 26% or higher to achieve that.

This will lead to a massive mop up of money in circulation as people sweep up the bills. It works in Nigeria. You aren't being honest. You're being sentimental.

There's no option. Yes, 26% is higher but there's no option, especially considering there's no forex to act as a buffer.

You don't like high rates but as I have said, there's no option. The rates will eventually come down when inflation is slain.

lol bubu don carry una handicap...f*ing clowns

Lol so you master Tinubu is a co conspirator in destroying Nigeria simple as that if he cant go after those who destroyed the Naira

Reno is already a bastard. Nothing about him is valuable.

Reno maybe crazy oo..

But he might have released some hidden truth..

There's no money from future oil sales, so how will Tinubu govt work.

The man Tinubu can't work magic na..

So if anyone has any idea, on how to bring money to the country legally please share it oo.. I think the government needs those information now than before..

Omokri is now Tinubu Miscreants Hero now.



Wonders shall never end 🤣

bjtinz:
Well we can hate and curse Reno all we want, but he made some points here. Naija is close to being officially broke.

For instance we thought we had about $33b in external reserves but findings from JP is that it's just about 10% of that amt if we take care of all liabilities.

However while we may agree Tinubu is coming at a very difficult time economically, his actions do not portray him as one appreciative of the gravity of the situation, rather ironic given his background as an accountant.

His numerous foreign trips with hordes of followers in tow, lodging the most expensive hotels, purchase of exotic cars, etc. Then add his current 48 member cabinet, one of the largest ever❗Haba!!

You are a realist. Some of these guys supporting Tinubu, Obi and Atiku, trying to defend them with all their cliche are quite annoying!

Here we are as a country going through many problems, and this inflation is no joke.
Reno may be many things, some of us don't even care how he is living his life.

However, here is a man giving Nigerians and journalists an info to do something about it, cos it concerns all of us, especially us the average joes without any government connect.

But these tribal losers would rather trivialize a situation that is very important to many individuals cos of useless support they have for an individual. From all indications, we are headed the zimbabwe and Venezuela ways of hyperinflation. These stupid fvxkz no longer talk about the situations on ground and ways out of it, they only insult and counter insult each other.

The Zimbabwe gov' printed money to pay debt, financed the Congo war and imported food. They increased the salaries of Army and govnment officials, looting, didn't curtail other forms of government spending, institutional corruption, poorly structured land reforms caused decline in food production, which raised food prices. If you check, you'd find those zim', Venezuela ,Weimar, Lebanon and other countries where hyperinflation were experienced playing right before us.

Abagworo:
Baseless excuse without meaning. Buhari Government printed money so why did your Tinubu fight Emefiele for trying to reduce liquidity and till this day has refused to implement cashless and deflation policy? The hope for Nigeria lies in Igbo ethnic group and the conspiracy to kill our economy rather than let them lead is the reason for all these "bulabas".

Only the Igbo can save Nigeria.

The North can make a Ghanaian Nigeria president instead of an Igbo man.

kushme:

The Zimbabwe gov' printed money to pay debt, financed the Congo war and imported food. They increased the salaries of Army and govnment officials, looting, didn't curtail other forms of government spending, institutional corruption, poorly structured land reforms caused decline in food production, which raised food prices. If you check, you'd find those zim', Venezuela ,Weimar, Lebanon and other countries where hyperinflation were experienced playing right before us.

But Nigeria is a favored nation. Despite colonialism, civil war, Abacha and other bad Presidents, terrorism and massive corruption, the country is still standing gidigba.

There's a reason why the saying exists, that God is a Nigerian!

Nigeria is a great country, it shall be made manifest.

God is in control!!!

Reno is right on point with this. To be honest, the present situation is extremely ridiculous to exonorate the most recent past administration from gross mismanagement of the economy. Those APC guys really came to sweep and they swept the treasury clean.

This gluttony called Reno is seriously working for d money he collected...No prob,we shall see how far this will take ya...

Ever8090:
Wether they defend d naira or not, one thing I know is, Nigeria is super rich. Nigeria is not one of the richest country in the world, but the richest country in the world. No country can survive the level of corruption Nigeria is withstanding.

Only politicians from one state out of the 36 state in Nigeria will loot China's resources dry in one year.

😁😁

What of civil servants - both retired and the serving ones?

Fathers, mothers, friends, relations, and business partners of most of us?

Terrible thiev.ing thiev.es

Ther are not remorseful. No conscience. They are the ones to first blame leaders.

Whatisurproblem:
you nailed it. God bless you abundantly

He really nailed it.
What a state governor stole under 8 years can build 5 of Sultan Haitman City of Oman and still remain.

Ikaeniyan0:
Even if Naira crash to 250k a Dollar, Tinubu must complete his 8 years.

Even if your family die of hunger because of this bad govt, Tinubu must complete his 8 years.

Who did this to you?

Abagworo:
Baseless excuse without meaning. Buhari Government printed money so why did your Tinubu fight Emefiele for trying to reduce liquidity and till this day has refused to implement cashless and deflation policy? The hope for Nigeria lies in Igbo ethnic group and the conspiracy to kill our economy rather than let them lead is the reason for all these "bulabas".

Which igbo? The same ones hiding under the bed on Monday or the ones selling there kids because of hunger, get sense

Danegun777:
We must continue to educate our people on perculiaruty of Nigerian Macro Economics

Same macro and all economic professors brought us into this mess.

No amount of economic formula will survive amidst corruption

IbeOkehie:


But Nigeria is a favored nation. Despite colonialism, civil war, Abacha and other bad Presidents, terrorism and massive corruption, the country is still standing gidigba.

There's a reason why the saying exists, that God is a Nigerian!

Nigeria is a great country, it shall be made manifest.

God is in control!!!

Favored as how? All these you mentioned about colonialism, civil war and the rest aren't peculiar to Nigeria, so save us the specialty complex of God is a Nigerian! Besides, we are not making oil money like before, again, inflation has eroded the purchasing power of the naira, population is on the raise.. We now import more food than before to feed more mouths in this unemployed era of insecurity with plenty guns around. Charts take a lot of time(months, years) to trend up or down.

Now, let me highlight the few traits Reno mentioned and those same traits happened in Zimbabwe and Weimar that led to hyperinflation. There is a principle which states the present is the key to past.

The points Reno is making:

- $1.5 billion monthly to defend the naira! He is asking, where will the money come from?

- Remember he said, there is no income coming in right now, except diaspora remittance.

He Also said, the previous regime printed trillions of Naira(money that has no backing beyond just paper).

See below, the similarities of what caused the inflation (hyper) in Weinar republic and Zimbabwe and other affected countries.
1. Limited money to buy imported goods(Naija is import base)
2. Losing colonies/allies and couldn't rely on them for cheap raw materials.( no trust for your currency).
3. Billions of local currency hoarded during war/economic crisis suddenly came back into circulation (many are currently hoarding the Buhari printed trillions).
4. Printed vast amount of money to pay debt,finance military war and import food(financing boko war, bandits and ipob)
5. A wheelbarrow full of money couldn't buy a Newspaper.
6. Farmers refused to sell their produce for worthless money( remember, herdsmen no even dey give farmers peace, already)
7. Food riot broke out, and people marched into the country side to loot the farms.
8. Institutional corruption
9. Policy mismanagement
10. Law and order broke down
11. Hyperinflation enabled Adolf Hitler to gain power.

We need to be practical in our dealings. Tell us if we have not been experiencing some of these things above.

When did this guy becomes Tinubu's spokes man I noticed that every topic that related to Atiku he will not say piiim I don't even know who's league he belongs to

kushme:


We need to be practical in our dealings. Tell us if we have not been experiencing some of these things above.

Your practicality can't supplant the power of God. Nigeria - Great People, Great Nation. God is a Nigerian, He has decreed our greatness and all detractors will regret their inchoate denigrations. If not for God Nigeria would have ceased to exist a looooong time ago, the continued existence of this country is evidence of His divine favor. It's a spiritual thing that your practicalities can't take into account.

Believe it, own it, stand on it, Nigeria is a great nation!

We stand, we go on!

IbeOkehie:


This attitude is one of the reasons Nigeria has become a Zoo. Nigerians have a deep disdain for systematic, applied knowledge.

It's not just economics, whether construction of buildings and roads or fixing cars, electing good governments or performing surgical or medical procedures, it's difficult to find a Nigerian who will take the time to learn and apply proper technique. They just want the OUTCOME and BENEFIT without any stress on HOW it's done. So we get low quality output everywhere, it's so bad Nigerians will look at a PROVEN METHOD of accomplishing something and find it fit to argue why it's wrong. Their argument is always "na book we go chop? No be class we dey do here".

When they're lucky enough to get a good result from a flawed method, they just hold onto that path and claim it as God's work, that they're favored.

The basic reason Nigeria has descended into a state of anomie is very clear. It's THE PEOPLE.

Good Luck to Nigeria.

Oga, Nigeria has enough educated people. We have more professors than Israel and Norway.
You clearly don't know the cause of our problems.
Now let me teach you.
Our biggest problem is a corrupt leadership and not that our people don't understand some economy theory.
If you really think that a lesson in economics would put food on the people's tables then clearly you are naive and but a child.
No county is great because it had the best economics professors.
Anambra state has a very brilliant economics as governor yet as long as corruption is not tackled your theories would remain just that.

tctrills:

Oga, Nigeria has enough educated people. We have more professors than Israel and Norway.
You clearly don't know the cause of our problems.
Now let me teach you.
Our biggest problem is a corrupt leadership and not that our people don't understand some economy theory.

My friend the PEOPLE of Nigeria voted for a President Buhari & APC in 2015. Anyone can dispute anything, but we all know that particular election result reflected the will of the Nigerian people.

In the campaign leading up to that 2015 election, the APC leaders were Muhammadu Buhari & Bola Tinubu. Those two told the people of Nigeria that fuel subsidy didn't exist. That claim was a MAJOR plank of their campaign. It's on video. That claim was a LIE and the people of Nigeria still voted for them and their APC.

Go tell that leadership crap to your fellow "EDUCATED" Nigerians.

Have a good night.

IbeOkehie:


My friend the PEOPLE of Nigeria voted for a President Buhari & APC in 2015. Anyone can dispute anything, but we all know that particular election result reflected the will of the Nigerian people.

In the campaign leading up to that 2015 election, the APC leaders were Muhammadu Buhari & Bola Tinubu. Those two told the people of Nigeria that fuel subsidy didn't exist. That claim was a MAJOR plank of their campaign. It's on video. That claim was a LIE and the people of Nigeria still voted for them and their APC.

Go tell that leadership crap to your fellow "EDUCATED" Nigerians.

Have a good night.

Oga neither Buhari non his opposition was a remarkable economics. And I really don't know the point you are making here so like you say, good night and hopefully good bye.

IbeOkehie:


Your practicality can't supplant the power of God. Nigeria - Great People, Great Nation. God is a Nigerian, He has decreed our greatness and all detractors will regret their inchoate denigrations. If not for God Nigeria would have ceased to exist a looooong time ago, the continued existence of this country is evidence of His divine favor. It's a spiritual thing that your practicalities can't take into account.

Believe it, own it, stand on it, Nigeria is a great nation!

We stand, we go on!

it will divide before or within 2026 and u will witness it becos it's economy is crashing everyday without improvement since 2015 u can research how Eritrea broke away 4rm Ethiopia they achieved it by guerrilla warfare even s/sudan too

Theweekend:
it will divide before or within 2026 and u will witness it becos it's economy is crashing everyday without improvement since 2015 u can research how Eritrea broke away 4rm Ethiopia they achieved it by guerrilla warfare even s/sudan too

Nobody in Nigeria wants to break up or even change anything about the country, not even those we all BELIEVE want to secede. The vast majority of Nigerians like their country exactly the way it is. What everyone wants is for their own tribe to control Nigeria so they can enjoy the benefits of the system as it is.

If there was any Nigeria wanting to break the country, you would know. You mentioned Sudan, their Civil War lasted 30 years. How long did the Nigerian Civil War last?

Nobody wants to go anywhere.

tctrills:

Oga neither Buhari non his opposition was a remarkable economics. And I really don't know the point you are making here so like you say, good night and hopefully good bye.

You rubbished your own argument. Ngozi Okonjo Iweala that helped OBJ pay off Nigeria's foreign debt isn't a good economist? The same woman was part of Jonathan's economic team that begged Nigerians to accept the withdrawal of fuel subsidies when the economy was stronger. Why do you Nigerians like making blatantly false arguments?

Good night indeed.

IbeOkehie:


Nobody in Nigeria wants to break up or even change anything about the country, not even those we all BELIEVE want to secede. The vast majority of Nigerians like their country exactly the way it is. What everyone wants is for their own tribe to control Nigeria so they can enjoy the benefits of the system as it is.

If there was any Nigeria wanting to break the country, you would know. You mentioned Sudan, their Civil War lasted 30 years. How long did the Nigerian Civil War last?

Nobody wants to go anywhere.

ok y is opc,arewa,ipob existing fully and even making rules if nobody wants to exit.

@YouandiAllofus

Na where law of vicarious liability hold tinubu. Because na him send buhari. Na him bring am come as president. In short, na him make am president.
And tinubu has boasted about this severally in public before. He can't deny this.

Reno's statement therefore means that tinubu conspired with buhari to ruin the naira and economy!

@me
Vicarious liability ko. Na tinubu vote alone make buhari president. Another party was in government, conducted election and lost to buhari. Na tinubu force millions of Nigerians to in Buhari abi?

Why is he saying we