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Nairaland Forum / Nairaland / General / Politics / CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi (13946 Views)
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Re: CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi by OfficialAPCNig: 11:54am On Feb 29 |
Even a fool knows that move is utterly foolish. You want to fight inflation by increasing interest rate when over 80% of Nigerian liquidity is outside the banking system. This move is counterproductive. It'll only stifle investment and productivity. No wonder Tinubu wrecked the economy 1 Like |
Re: CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi by NEIGHBOUR(m): 11:55am On Feb 29 |
AmuDimpka: ....and the greatest mistake most Oponuists made is to believe that Obi is an Economic Wizard.😂 2 Likes |
Re: CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi by Mrhonesty: 11:58am On Feb 29 |
Your 3rd class OBI has suddenly become the financial expert dictating what the Central Bank should do. Obi as attention seeker always wants to be in the news. uote author=Ogiame post=128704215] The clown called Cardoso and his master does not have anything upstairs. God will continually bless you your Excellency. [/quote] 1 Like |
Re: CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi by Joconceptbest4(m): 12:00pm On Feb 29 |
Quelme:propaganda can never solve the problem of this country instead it will take it to the relegation level. MIND YOU |
Re: CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi by Willed042(m): 12:00pm On Feb 29 |
Ogiame:Very irresponsible. Someone who just opened an account in nairaland to only defend that actions of the government and castigated a tribe...what a disgrace to the society that made him or her. I wonder why such people still exist on a public platform |
Re: CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi by IamANigerianMan: 12:01pm On Feb 29 |
Ogiame:I talked they insulted me, how can CBN increase MPR again, when these useless where appointed last week, nairaland were busy celebrating their CV... Even the person who have never go to primary school knows it is very wrong to increase MPR... We are clamourring for single digits you busy pushing it . |
Re: CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi by muykem: 12:03pm On Feb 29 |
Says by third class philosophy.. |
Re: CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi by Ngwamankillyou(m): 12:07pm On Feb 29 |
IgbosCriminals: Who is this inferior thing from inferior and backward part of Nigeria. |
Re: CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi by benardtotti(m): 12:07pm On Feb 29 |
Jogs1900: The mere fact Obi doesn't understand that cbn has a job to stabilise the monetary policy of the nation while the executive should tackle insecurity is a BIG red flag , I'm not surprised though , his performance as governor should tell any right thinking person that Obi doesn't have what it takes to run Nigeria . 3 Likes |
Re: CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi by Bfly: 12:07pm On Feb 29 |
Marketman can keep his opinions, work is going on to improve security and all of that. Learn from Atiku on how not to become too cheap |
Re: CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi by Lifemanage: 12:08pm On Feb 29 |
CountinBlessins:The insecurity in the country is the major problem. The economy is robust to make people wealthy but the impact of boko haram, bandits and kidnapping is the major problem....marching orders need to be given. State policing should begin full force 1 Like |
Re: CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi by AdeolaOmoOba(m): 12:09pm On Feb 29 |
The truth is that Peter Obi couldn't have done better. Nigeria's situation cannot be fixed overnight. If things are not done your way, it doesn't mean things are wrong. 2 Likes 1 Share |
Re: CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi by Holluwhakemmy(f): 12:10pm On Feb 29 |
What does third class philosophy graduate know about economics? He sha want to be relevant by all means. 2 Likes |
Re: CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi by Tareq1105: 12:11pm On Feb 29 |
So Obi, a trader and a philosophy graduate is more knowledgeable than those MPC members whose decisions have been applauded by experts like Prof Kingsley Moghalu and others on TV and Radio discussions? Does Obi have access to all the information at the disposal of MPC members? He that thinks he's wise is the most foolish. I rarely respond to this kind of beer parlor advice from a brewer who must have taken some cups before speaking. 5 Likes 1 Share |
Re: CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi by Macphenson: 12:12pm On Feb 29 |
christistruth01: And your empty head doesnt know that most businesses and production take loans from.bank to function. Audu Ogbeh when he was agric minister under Buhari once said that only people pushing cocaine can actually be able to pay back bank loans at the rates then, how much more increasing it now. Well I dont blame ignorant people like yoh who are not into production or trading. You will never understand the implication of this useless pilicy by cardoso. He is invariably stiffling production thus leading to loss of jobs. |
Re: CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi by Victoraguwa: 12:14pm On Feb 29 |
More than your Chicago state university first class accounting graduate 🤫 Quelme: |
Re: CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi by lieNEWS: 12:17pm On Feb 29 |
Quelme:you just open mouth waaa and be saying rubbish. Where you in anambra when he was governor? |
Re: CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi by bionixs: 12:17pm On Feb 29 |
IgbosCriminals:oga , are you really cursed |
Re: CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi by Tareq1105: 12:17pm On Feb 29 |
benardtotti: Obi wasn't and he's not an exceptional person. He only came at a time when Nigeria and Nigerians, especially the younger generation were looking for a younger person. 2 Likes |
Re: CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi by Beverlyjean(f): 12:21pm On Feb 29 |
IgbosCriminals: Seun , this person used igbocriminals as his moniker and it was approved by one of ur people ... he goes around throwing about tribal bigotry |
Re: CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi by aribisala0(m): 12:24pm On Feb 29 |
WhiteWood:I believe it.Is a short term but necessary stabilisation move. It should not and cannot last and I expect it to reverse before the end of the year It will.cause problems in the economy no doubt but there are other instruments from places like Bank of industry e.g. Not enough but these are tough times and the immediate priority is to stabilise the Naira .and stop volatility People must have confidence in the Naira as a store of value That is NUMBER ONE Yes we need security but that will take time . The problem did not arise overnight and won't go overnight 1 Like |
Re: CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi by PDPdestroyer(m): 12:29pm On Feb 29 |
I wonder what Seun Osewa has to say about this economic gaffe from his candidate |
Re: CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi by Plut0cracy: 12:32pm On Feb 29 |
IgbosCriminals: Olodo did you even read the article? |
Re: CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi by Kukutenla: 12:33pm On Feb 29 |
The astonishing thing is zombies attacking Obi for speaking up about the negative effect raising rates will have onlocal manufacturing and production A few days back, zombies were telling us how we need to grow and produce more. They told us bread and rice are bad while we should eat yam and garri They told us how we need to "kill importation" They told us the reason the naira was falling lower than my grandma's breasts was because Nigerians are not productive and they love foreign goods too much Now, their god has gone ahead to enact a policy to further kill local production while making importation cheaper with low value of our currency and they are still clapping for ther god Zombies lack common sense |
Re: CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi by Plut0cracy: 12:33pm On Feb 29 |
WhiteWood: With your cheap android phone and 2k data you just called obi a boy judge yourself oh |
Re: CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi by olax02(m): 12:34pm On Feb 29 |
IgbosCriminals:He's claiming the Saint and political guru now. I bet you if this man is given Nigeria to rule for just one day... E go sweat. 1 Like |
Re: CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi by OldSkoolHeadBoy: 12:37pm On Feb 29 |
Re: CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi by Dera1000(m): 12:37pm On Feb 29 |
Izuchukwu70: Tackling insecurity in the country and providing the farmers with aid will improve food production, and inflation and hunger will reduce.. CBN rule can still wait let's tackle insecurity first, that is our major problem now, all hands must be on deck let's move the country forward. |
Re: CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi by DREAMHOMES6970(m): 12:38pm On Feb 29 |
CountinBlessins: How can he when he is the bigger criminal. That Man knows everything going on. The same way he was acting the fool during campaign, dropping gaffes and English blunders but suddenly found himself after he was announced winner in the middle of the night. That Man is the biggest criminal in history of this country. Look at the caliber of people associated with him. It baffling how some people still think He is not responsible for everything happening. People led by this same Emilokan almost asked that Jonathan should be jailed or executed when a bag of rice was still #8k , dollar 180, fuel #65. But somehow same hypocrites thinks he is not the problem today |
Re: CBN’s 22.5% Interest Rate Will Worsen Economic Situation – Peter Obi by yemmit90: 12:38pm On Feb 29 |
Quelme: He is quite right about this one, increasing the interest rate on loans will only kill already dying companies left in Nigeria. Cost of doing business due to lack of energy, insecurity and infrastructure has already put almost all companies into verge of liquidation, not to talk of borrowing at high interest rate to finance dying business. These people only had interest of international communities and elites at hearts and not the masses. The government that threw her citizens into almost total darkness since early January withiout providing any solution to fix the collapsed national grids for good two months is not worth to be call an active government. One thing is certain, this government don't care about the masses but statistics to looks good internationally. It is quite unfortunate and embarrassing that governments in Africa don't focus on individual development of their citizens but keep chasing foreign induced economic statistics they know little or nothing about. Cutting down irrational demands for dollars is good but raising interest rate will do more damage to our economy than they might thought. If this government has distributed tractors, seeds and provide security and land for farm settlements for farmers in every local governments, we should've be expecting significant downfall of food price by now. |
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