Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 - Politics (2)

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Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 - Politics (2) - Nairaland

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Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by SALLYBERRY01(m): 3:05pm On Feb 23

Unrelated but why is that I can upload pictures from telegram directly to nairaland not until I send it to whatsapp then save.

I started experiencing this since I moved from Iphone to android.

Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by andy244: 3:05pm On Feb 23

Ebin pawa oo

Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by WhizdomXX(m): 3:06pm On Feb 23

tiswell:
'na statistics we go chop"?

Raise am raise am

Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by Cantonese: 3:06pm On Feb 23

In a dollarized economy, what’s the real value please with the daily drop in naira rate?

Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by INTEGRITYA1(m): 3:07pm On Feb 23

Okay

Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by PortHarcourtcit(m): 3:09pm On Feb 23

Yamleg:
Please my libido is dead. How do I revive it?
Thanks all.

engage in a routine exercise with your wife and let her dress romantic at home... Eat alot of vegetables and fruits...

1 Like

Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by Slytiger: 3:13pm On Feb 23

Good news.

Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by Chummynoni(m): 3:16pm On Feb 23

This much in circulation with little or no impact in the lives of the populace, one of the reasons inflation is killing us. It is obvious the Ms is way more than this. Nigeria that doesnt have record.

Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by solacong: 3:20pm On Feb 23

Yamleg:
Please my libido is dead. How do I revive it?
Thanks all.

you dey smoke igbo?

Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by IdowuRufai: 3:20pm On Feb 23

Cantonese:
In a dollarized economy, what’s the real value please with the daily drop in naira rate?

Exactly, compare this vis-a-vis January 2023 in dollar terms.

2 Likes

Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by k2money(m): 3:21pm On Feb 23

Yamleg:
Please my libido is dead. How do I revive it?
Thanks all.

I get one àgbò woman in alakuko let me know if you live close to that place

1 Like

Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by IamAtikulate: 3:22pm On Feb 23

WhiteWood:
Good News!! It's uplifting to see positive developments emerging in Nigeria. Kudos to BAT.

🤣🤣🤣🤣

It seems only illiterates support BAT. Too much money in circulation (money supply) are one of the major causes of inflation.

Too much money supply when Nigeria is already experiencing one of the worst inflations ever shows how clueless the CBN Governor is.

2 Likes

Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by unclejb2(m): 3:24pm On Feb 23

Zimbabwe loading

Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by IamAtikulate: 3:24pm On Feb 23

Chummynoni:
This much in circulation with little or no impact in the lives of the populace, one of the reasons inflation is killing us. It is obvious the Ms is way more than this. Nigeria that doesnt have record.

Some Tinubu supporters are already celebrating that (all-time money supply) without knowing the implications.

When we call them illiterates, they say we are toxic.

🤣🤣🤣

3 Likes

Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by Westerhoffe(m): 3:25pm On Feb 23

Yamleg:
Please my libido is dead. How do I revive it?
Thanks all.

Cut off the log… it's useless now.

Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by Yamleg: 3:26pm On Feb 23

solacong:

you dey smoke igbo?

I no dey smoke

Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by Yamleg: 3:26pm On Feb 23

Westerhoffe:

Cut off the log… it's useless now.

ONkR

Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by Coldie(m): 3:28pm On Feb 23

Propaganda and lies.

That’s how they told us Nigeria unemployment rate has reduced at a time when companies were laying off staffs

Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by goodman023: 3:28pm On Feb 23

merits:

Na so so figured we dey see no impact.

Relocate abroad

Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by Menclothing: 3:31pm On Feb 23

Lolz 😂
Where is the product to back it up

Stop
Production of naira

Although population is increasing and we have more Pos operator
Money outside bank system is more than what is in bank system

An Economist once predict our Pos system will kill our Economy

CBN will just keep printing In Other to supply bank

1 Like

Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by spiSeyi: 3:31pm On Feb 23

This is bad for the economy hence the reason for the inflation. The fiat currency supply outweigh our production output as a country. The CBN should recall the money by increasing the interest rates and stop further printing of Naira.

1 Like 1 Share

Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by arsenal33: 3:32pm On Feb 23

Yamleg:
Please my libido is dead. How do I revive it?
Thanks all.

Get money

Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by gigabyte13: 3:34pm On Feb 23

Yamleg:
Please my libido is dead. How do I revive it?
Thanks all.

Use microwave warm am
E go rise come strong

Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by socialmediaman: 3:43pm On Feb 23

WhiteWood:
Good News!! It's uplifting to see positive developments emerging in Nigeria. Kudos to BAT.

Is it that you didn’t read the post or you didn’t understand what you read?

ArewaNorth:

The uptick in the money supply portends a potential surge in inflation, posing a significant threat to the purchasing power of Nigerians. Moreover, an inflated money stock typically correlates with a decline in interest rates, particularly in environments characterised by a dearth of viable investment prospects.

This dynamic may render Nigerian investment vehicles less attractive to global investors, a matter of grave concern considering Nigeria’s imperative for sustained dollar inflows.

1 Like

Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by Kingmadiba2(m): 3:55pm On Feb 23

Pls ooh is there anyone using our e-naira?

Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by Putinofrussia: 3:57pm On Feb 23

WhiteWood:
Good News!! It's uplifting to see positive developments emerging in Nigeria. Kudos to BAT.

It has been back to back good news as Nigeria starts its real positive growth.

Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by Konquest: 3:58pm On Feb 23

ArewaNorth:

Nigeria’s broad money supply surged to a historic high of N93.72 trillion as of January 2024, marking a remarkable ascent.

This figure represents a staggering 76% surge from the N53.14 trillion recorded in January 2023, showcasing a substantial year-on-year growth of N40.48 trillion.

Moreover, compared to the preceding month of December 2023, which stood at N78.74 trillion, this represents a robust 19% increase, equivalent to N14.98 trillion.

The latest insights from the Central Bank of Nigeria (CBN) unveil these profound shifts in the nation’s monetary landscape, as detailed in its comprehensive money and credit statistics.

Why does this matter?
Recent trends underscore a pronounced expansion in Nigeria’s money stock, a trend that intersects with an array of economic challenges. Foremost among these challenges are the surging inflation rates, mounting pressures on the naira’s exchange rate, and a downward trajectory in interest rates.

The uptick in the money supply portends a potential surge in inflation, posing a significant threat to the purchasing power of Nigerians. Moreover, an inflated money stock typically correlates with a decline in interest rates, particularly in environments characterised by a dearth of viable investment prospects.

This dynamic may render Nigerian investment vehicles less attractive to global investors, a matter of grave concern considering Nigeria’s imperative for sustained dollar inflows.

https://nairametrics.com/2024/02/22/nigerias-money-supply-hits-new-all-time-high-of-n93-72-trillion-in-january-2024/

@naptu2,

Thanks for the mention on your thread leading to this insightful thread link.

Indeed, I mentioned CNG being a far cheaper alternative to petrol (PMS) on that your 2023 thread, but I'm fully aware that there is a confluence of are many economic variables at play that have to be tackled to reduce the current hyperinflation just like you correctly stated... "domestic production, imports, subsidy, security, demand for dollars, spending, hoarding, excess money in supply, etc."

I referenced the CNG issue because on the street level, the vast majority of folks in Nigeria usually associate hyperinflation with the high costs of transportation and haulage of foodstuffs due to the increases in fuel cost. The other variable they know is the high Naira to USD rates from the official CBN rates or the illegal currency black markets... Lol.

All the best.

1 Like 1 Share

Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by merits(m): 4:06pm On Feb 23

goodman023:

Relocate abroad

Am there already.You are the one need to step up your game.

Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by ElSudani: 4:08pm On Feb 23

Bad news for Obidients grin

How dare you publish any good news regarding Nigeria?

Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by coputa(m): 4:11pm On Feb 23

obinna58:
What was the expectation when they released both the new and old notes to the public, soon we go start eating money

Buhari destroyed Nigeria, now tinubu is on the brutal finishing just like the mortal combat

With the excessive money we had printed tinubu/FG doesn’t fancy shitty naira anymore they are always on loan request bcoz thay want to be spending in dollars

We better beg the Americans so that they can allow CBN to start printing our own dollars, this way we all can ditch stupid stubborn naira and comfortably continue our lazy government ruling without any repercussions

This government is really clueless, they are only good in propaganda.

All these are the results of careless printing of naira notes and then changing them to dollars,these are some of the things that are weakening the naira and causing hyper inflation.

What is the CBN governor waiting for to mop up these excess liquidity in the system

This CBN governor is not active at all

Re: Nigeria’s Money Supply Hits New All-Time High Of ₦93.72 Trillion In January 2024 by goodman023: 4:12pm On Feb 23

merits:

Am there already.You are the one need to step up your game.

Congratulations. Anyone that successfully made it abroad has made it. Before you know it, you’ll be able to save 1billion dollars in 2 months. Nigeria is a mess. Please don’t come home o

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