Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,215,703 members, 8,026,920 topics. Date: Thursday, 12 December 2024 at 08:57 AM

Alphabyte2's Posts

Nairaland Forum / Alphabyte2's Profile / Alphabyte2's Posts

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (of 10 pages)

Programming / Microsoft Is Working On .NET 9 by Alphabyte2: 6:57pm On Feb 26
Overview of the new features and improvements introduced in .NET 9, the latest version of the popular software development platform from Microsoft. .NET 9 brings a range of enhancements that aim to streamline development workflows, improve performance, and enhance the overall developer experience.

One of the key highlights of .NET 9 is the introduction of new language features and enhancements that make it easier for developers to write clean and efficient code. These include improvements to C# 12, the primary language used in .NET development, as well as updates to F# and Visual Basic. These language enhancements provide developers with more tools and capabilities to work with, allowing them to write code more effectively and expressively.

Additionally, .NET 9 introduces new APIs and libraries that expand the functionality of the platform and empower developers to build a wider range of applications. These new APIs cover a variety of areas, including web development, cloud computing, machine learning, and more, providing developers with the tools they need to create modern, feature-rich applications.

Performance improvements are also a key focus of .NET 9, with optimizations made to the runtime and compiler to enhance the speed and efficiency of .NET applications. These performance enhancements help applications run faster and consume fewer system resources, resulting in a smoother and more responsive user experience.

Furthermore, .NET 9 introduces new tools and capabilities for cross-platform development, enabling developers to target a broader range of platforms and devices with their applications. With support for platforms such as Windows, macOS, and Linux, as well as mobile and cloud environments, developers can build applications that reach a wider audience and deliver a consistent experience across different devices.

Overall, .NET 9 represents a significant step forward for the .NET platform, offering developers a wealth of new features and improvements to enhance their development process and enable them to build more powerful applications. By leveraging the new language features, APIs, and performance optimizations introduced in .NET 9, developers can take their applications to the next level and deliver innovative solutions to users around the world.

Learn more :https://learn.microsoft.com/en-us/dotnet/core/whats-new/dotnet-9/overview

1 Like

Programming / Re: A Need A Good Android Emulator For Windows 7 by Alphabyte2: 8:40am On Feb 26
CyberHustle:
According to the topic, which of these have you used that's good in your fucking opinion, or you are just try to play the multiple user account game that has destroyed this section?

Are u an admin or a moderator ?

2 Likes

Programming / Re: A Need A Good Android Emulator For Windows 7 by Alphabyte2: 2:19pm On Feb 24
CyberHustle:
APK in windows without emulator?
So many nut cases here. I need emulator and never said it is for development of app or anything related to softwares.

Gamers use it to play android games a lot. Development isn't the only use of android emulators.

No sensible answer after thee days.

We are trying to say you laptop or PC don't meet the requirements of android studio emulator we are giving you a quick solution.
https://en.uptodown.com/windows/android-emulators
Programming / Re: OpenAI ChatGPT Conversation AI Shocked The World by Alphabyte2: 5:13pm On Feb 23
For more usage users can insert API endpoints and get notifications of alarm. The architecture will be an enterprise AI alarm.
Programming / Re: OpenAI ChatGPT Conversation AI Shocked The World by Alphabyte2: 5:10pm On Feb 23
Alarm AI technology has revolutionized the way people and investors approach trading decisions, providing a constant stream of information and alerts that can help individuals make informed choices about their investments. These AI-powered alarms are designed to wake people up at any time of day or night to notify them of potential trading opportunities or risks. One of the key benefits of alarm AI technology is its ability to monitor market trends and fluctuations in real-time, allowing investors to stay ahead of the curve and make timely decisions.

By setting up specific criteria and thresholds, individuals can customize their alarms to alert them when certain conditions are met, such as when a stock reaches a certain price point or when a market index experiences a significant change. For investors who are actively involved in trading, these alarms can be a game-changer, providing them with the information they need to react quickly to market movements and capitalize on potential opportunities. Whether it's a sudden spike in a particular stock or a major news event that could impact the market, alarm AI technology ensures that investors are always in the loop and ready to act. However, the use of alarm AI technology to wake people up at night or day to sell or trade also comes with its own set of challenges and considerations. For one, the constant stream of alerts and notifications can be overwhelming for some individuals, leading to information overload and decision fatigue.

It's important for users to strike a balance between staying informed and avoiding burnout, ensuring that they are able to make clear-headed decisions without being swayed by emotion or impulse. Furthermore, the reliance on AI technology for trading decisions raises questions about the role of human judgment and intuition in the investment process. While AI algorithms can analyze vast amounts of data and identify patterns that humans may overlook, they are not infallible and can sometimes make mistakes or misinterpret information.


It's crucial for investors to use alarm AI technology as a tool to supplement their own knowledge and expertise, rather than relying on it blindly to make all their trading decisions. In conclusion, alarm AI technology has the potential to revolutionize the way people and investors approach trading, providing them with real-time alerts and notifications that can help them stay informed and make timely decisions. By leveraging this technology effectively and thoughtfully, individuals can navigate the complexities of the financial markets with confidence and agility, maximizing their chances of success in an ever-changing landscape.
Programming / Re: A Need A Good Android Emulator For Windows 7 by Alphabyte2: 1:43pm On Feb 23
Then u check logcat for responses
Programming / Re: A Need A Good Android Emulator For Windows 7 by Alphabyte2: 1:40pm On Feb 23
CyberHustle:
how can android phone work in windows as an emulator?
You must be a palmwine tapper or something.
U copy the APK file and send it to your phone then install when you PC has low specifications . Sheriman is giving good advice and the way u answer is a bit off
Programming / Re: A Need A Good Android Emulator For Windows 7 by Alphabyte2: 9:47pm On Feb 22
Put debug and release apk into your phone and test it . Genymotion isn't free
Programming / Re: I Want To Add Mobile Development To Stack. by Alphabyte2: 1:03pm On Feb 21
Lina555:
I also think that starting with Flutter is indeed a good choice. It is gaining popularity and offers a single code base for both Android and iOS apps.

It is a good choice but u can only develop android and flutter web on windows . U will need Mac and xcode for iOS development.
Programming / Re: I Want To Add Mobile Development To Stack. by Alphabyte2: 10:04pm On Feb 20
Sheriman:

I hope you know how much a MAC Mseries cost??

Apple will definitely going to faze out support of xcode older Mac because it will only develop lower version of Mac and iOS . iOS 17.4 and Cocoapod which requires macOS Sonoma 14
Programming / Re: I Want To Add Mobile Development To Stack. by Alphabyte2: 6:52pm On Feb 19
chukwuebuka65:



I have interest in Java not just mobile development but I want to start with cross platform.

Buy Mac M1 or Mac M3 u could even use Kotlin compose with KMP to build cross-platform app for Android and iOS or even spring boot for web In Kotlin.If you don't want to learn Kotlin ; dart and flutter is another option .
Programming / Re: I Want To Add Mobile Development To Stack. by Alphabyte2: 6:25pm On Feb 19
chukwuebuka65:
Which language should I start with. I would love to add Java to my skills but I want to start with cross platform. So I am looking to start with flutter. I hope I am in the right direction.

If you know OOP Java,Kotlin and Dart will be easier
Programming / Tech Proliferation Globally With Greater Possibilities And Progress by Alphabyte2: 6:22pm On Feb 19
The global tech proliferation or acceleration refers to the spread and adoption of technology across different countries and regions worldwide. This phenomenon is driven by advancements in communication networks, digital infrastructure, and increased access to information technology. The proliferation of technology has had far-reaching effects on various aspects of society, including the economy, education, healthcare, and governance. The notable GPT has changed landscape of AI and robotics with more discoveries .


It has enabled greater connectivity and collaboration across borders, making it easier for people and businesses to communicate and work together on a global scale. However, the rapid pace of tech proliferation also raises concerns about digital divide, data privacy, cybersecurity, and the impact of automation on jobs. It is important for policymakers, businesses and individuals to navigate these challenges .


It is a comprehensive overview of the global tech proliferation phenomenon. Technology indeed plays a significant role in shaping our world today, impacting various aspects of our lives. As you mentioned, while there are numerous benefits to the widespread adoption of technology, there are also challenges that need to be addressed. Efforts to bridge the digital divide, protect data privacy, enhance cybersecurity measures, and address the impact of automation on the workforce are crucial in ensuring that the benefits of technology are accessible to all and used responsibly.

Collaboration among stakeholders, including governments, businesses, and individuals, is essential in navigating these challenges effectively. By promoting responsible and ethical use of technology, we can leverage its potential to drive positive change, foster innovation, and create a more connected and inclusive global society. Thank you for highlighting these important considerations.
Programming / Re: AGI Robots Benchmark For Millions Or Billions Tasks With RAG From LLM by Alphabyte2: 7:12pm On Feb 18
A multitasking AI agent is an artificial intelligence system that is capable of performing multiple tasks simultaneously. This agent can switch between different tasks, prioritize tasks based on urgency, and optimize its performance to complete tasks efficiently and effectively.

This type of agent is commonly used in various applications such as customer service chatbots, virtual assistants, and robotic process automation systems. By multitasking, the AI agent can improve productivity, save time, and enhance the overall user experience.
Programming / Re: Reinforcement Learning Agents In LLM by Alphabyte2: 12:33pm On Feb 17
AI agents learn new skills by using a combination of browsing AI agents and pre-existing knowledge.

When a new task or skill is required, the AI agent can browse pre-existing knowledge to gain a basic understanding of the topic. It can then continue to explore relevant information and resources to further develop its understanding and improve its skills.

Additionally, the AI agent can also adapt and learn from its own experiences and interactions with the environment. By trial and error, the AI agent can learn from its mistakes and successes, continuously improving its skills and expanding its knowledge base.

Overall, the combination of browsing AI agents and pre-existing knowledge allows AI agents to effectively learn new skills and adapt to new challenges in a dynamic environment.
Programming / Reinforcement Learning Agents In LLM by Alphabyte2: 9:33pm On Feb 14
Looking at an AI that scan huge amount of data and arrange them in different forms with specific keywords from prompts.

While reinforcement learning (RL) has shown great potential in achieving artificial general intelligence (AGI), it is important to note that it is not the sole solution and there are several other approaches being explored as well.

Reinforcement learning is a machine learning paradigm in which an agent learns through trial and error by interacting with an environment and receiving feedback in the form of rewards or penalties. RL has been successful in achieving impressive results, such as defeating human experts in complex games like Go and Chess.

One of the key advantages of RL is its ability to handle complex and dynamic environments, making it attractive for developing AGI. RL agents can learn to adapt their behavior based on changing circumstances and optimize their decision-making processes over time.

However, there are also challenges associated with RL. It can be computationally expensive and requires a significant amount of training data to achieve optimal performance. Exploring the state-action space of complex environments can be time-consuming, limiting RL's applicability in real-time scenarios. Additionally, RL methods can be sensitive to the initial conditions and may struggle to generalize to novel situations.

To achieve AGI, researchers are exploring a combination of different approaches, including RL, symbolic reasoning, deep learning, and others. AGI will likely require a holistic solution that incorporates various techniques, as different components of intelligence (e.g., perception, reasoning, learning) have diverse requirements.

In summary, reinforcement learning is a promising approach towards AGI but is not the only path. Developing AGI is a multidisciplinary challenge, and a combination of various techniques is likely to be crucial to create truly intelligent and adaptable systems.
Programming / Re: Has The Tech Bubble Bust? by Alphabyte2: 4:59pm On Feb 08
It is alarming that OpenAI is shifting its focus towards developing software that can operate devices and automate tasks. This move signifies a shift in the AI battleground, indicating that OpenAI is directing its efforts towards creating practical applications for artificial intelligence.

This change in strategy suggests that OpenAI aims to move beyond just developing powerful AI models and instead focus on deploying AI in real-world scenarios. By developing software that can operate devices and automate tasks, OpenAI aims to create AI-powered systems that can assist in various domains, such as healthcare, manufacturing, and more.

This move aligns with OpenAI's mission to ensure that artificial general intelligence (AGI) benefits all of humanity. By building practical AI software, OpenAI can make AI more accessible and useful to a wider range of industries and individuals.

OpenAI's shift towards developing software for operating devices and automating tasks reflects its desire to bring AI out of the research and development phase and into practical use, thereby expanding the impact of AI in everyday life.
Programming / Re: Has The Tech Bubble Bust? by Alphabyte2: 4:54pm On Feb 04
Corporations and the government are investing billions of dollars in AI . AI Jobs are now highest paid in programming and the competition is growing daily . The potential of AI in transforming industries, improving efficiency and delivering personalized experiences has captured the attention of businesses globally. From tech giants like Google, Amazon, and Microsoft to traditional industries like healthcare, finance, and manufacturing, products/services companies across various sectors are investing significant resources into AI technology. If you noticed you will know that researchers are improving findings in different fields.
Programming / Top Ide For Mobile And Web Development For Android Apk by Alphabyte2: 4:15pm On Feb 03
1. AIDE
2. Acode
3. Android ide (GitHub)
4. Sketchware pro (GitHub)
5. C# Shell .NET IDE
6. Code Editor - Compiler & IDE
7. CXstudio C/C++ ide
8. Pycode
9. Jvdriod ide
Programming / Re: Best Bootcamp To Learn Programming In Nigeria? by Alphabyte2: 5:48pm On Feb 01
Davidnilla:
Please,

What's the best bootcamp to learn programming in Nigeria? Physical classes, they still exist?

Although pretty decent with HTML/CSS, wanna learn em in full, plus JavaScript, python, php etc

Decagon, Aptech , Moat Academy and Newhorizons
Programming / Re: Has The Tech Bubble Bust? by Alphabyte2: 7:39pm On Jan 30
tensazangetsu20:


You can learn farming. AI will never take over there.

FarmGPT shows that AI is coming for everyone. Elon warnings was true but he was one of the pioneers of AI.
Programming / Re: Has The Tech Bubble Bust? by Alphabyte2: 5:09pm On Jan 30
AI is helping developers code more effectively and efficiently it does coding including UI/UX design from images of figma or sketch .

The layoff software engineers will be hired by other corporation Some of them with their experience are doing remote jobs and building their own startup to sell millions of dollars at acquire. If you are an experienced developer you will always have many jobs but you need to be full stack. Try to network your yourself and outsource your skill .
Programming / Why Nigerian Startups Needs To Expand Globally by Alphabyte2: 2:03pm On Jan 30
Financing backing for African new startup kept on falling this year. Countries, for example, Nigeria saw probably the greatest drops. The Serious Deal showed that financing has fallen across various measurements, with Nigeria, which used to be a leader, falling far behind its friends.Venture Capital won't partner if you are not planning to expand .There are several reasons why Nigerian startups should consider expanding internationally or globally:


1. Access to Larger Markets: Expanding internationally allows Nigerian startups to tap into larger markets with a greater customer base. This can lead to increased sales and revenue potential.

2. Diversification of Revenue Streams: By expanding internationally, startups can reduce their reliance on a single market. This diversification helps mitigate risks and provides stability in the face of economic fluctuations or local market challenges.

3. Learning and Innovation: International expansion exposes startups to new ideas, technologies, and business practices. This can foster innovation and help them stay competitive in the global market.

4. Access to Talent and Resources: Expanding internationally allows startups to access a broader pool of talent, including skilled professionals and experts in various fields. It also provides access to resources, such as funding opportunities, partnerships, and infrastructure.

5. Brand Recognition and Reputation: Expanding internationally can enhance a startup's brand recognition and reputation. Operating in multiple markets can boost credibility and attract more customers and investors.


6. Scaling Opportunities: Expanding internationally provides startups with the opportunity to scale their operations and grow at a faster pace. This can lead to increased market share and profitability.


7. Strategic Partnerships: International expansion opens doors to potential partnerships with global companies, investors, and organizations. These partnerships can provide access to new markets, technology, expertise, and funding.

8. Competitive Advantage: Expanding internationally can give startups a competitive advantage over domestic competitors. By offering unique products or services in international markets, startups can differentiate themselves and gain a foothold in new territories.

It's important for Nigerian startups to thoroughly research and plan their international expansion strategies. They should consider factors such as market demand, cultural differences, regulatory requirements, and competitive landscape. Seeking guidance from experts, networking with industry peers, and leveraging government initiatives and support programs can also be beneficial in the international expansion process.
Programming / Creating An Operating Systems Using Material And Fluent Design by Alphabyte2: 7:47pm On Jan 29
Creating an operating system with fluent and material design would involve combining the design principles of both these frameworks and developing a user interface that incorporates elements from both styles. Here's a high-level overview of the steps involved in creating such an operating system using a virtual machine and a bootloader:

1. Set up a development environment: Start by setting up a development environment with the necessary tools and software. This would typically involve installing a virtual machine (e.g., VirtualBox) and a bootloader (e.g., GRUB or LILO) that supports developing custom operating systems.

2. Design the user interface: Determine the design elements you want to include from both fluent and material design. Fluent design focuses on subtle animations, depth, and element transitions, while material design emphasizes clean and structured interfaces with consistent color schemes and layout grids. Combine these principles to design a user interface that suits your preferences.

3. Develop the core operating system: Begin developing the core functionality of your operating system, such as file management, memory management, process scheduling, and device management. This would involve writing device drivers, kernel,system libraries, and various operating system components.

4. Implement the user interface: Use a programming language suitable for system-level development (e.g., C or C++) to implement the user interface using the design elements you defined. Consider using a graphical library or a framework that supports both fluent and material design principles.

5. Integrate with the bootloader: Modify the bootloader's configuration to load your custom operating system when the virtual machine starts. This typically involves configuring the bootloader to point to the virtual disk where your operating system is stored.

6. Test and debug: Test your operating system inside the virtual machine, identify any bugs or issues, and debug them to ensure proper functionality. Iterate on the design and implementation if necessary.

7. Package and distribute: Once satisfied with the operating system's functionality and design, package it into a bootable image that can be distributed to other users or machines.

Please note that creating a custom operating system is a complex task that requires extensive knowledge of systems programming and low-level software development. It would also require familiarity with virtualization technologies and bootloader customization.


Google >>awesome operating system GitHub

https://github.com/wichtounet/thor-os

https://github.com/Awesome-HarmonyOS/HarmonyOS


https://github.com/redox-os/redox


https://github.com/reactos/reactos


https://github.com/ravynsoft/ravynos


https://android.googlesource.com/kernel/x86_64/+/refs/heads/android-x86_64-cuttlefish-4.4-oreo-mr1

https://github.com/SerenityOS/serenity

https://github.com/Sphere-Systems/SphereOS



Source: AI
Programming / Re: Successful Deployment Of Machine Learning Models In C# For Tennis Analytics by Alphabyte2: 1:54pm On Jan 29
Hello bot do u have API like sport radar or iSport API
Programming / Re: Successful Deployment Of Machine Learning Models In C# For Tennis Analytics by Alphabyte2: 1:53pm On Jan 29
Hello bot do u have API like sport radar or iSport API
Programming / Re: Kotlin Developers by Alphabyte2: 5:01pm On Jan 28
aigohior:
Hello all kotlin Developers, have you ever thought of building apps for Android, iOS, desktop, website. With KMM you can build them all.
Many tutorial you watch, you will find them using Mac PC, but in this my tutorial, I will explain on how to set up your project on windows and build for all platform.
it took me a while (month ) to finally get it to work .

I explained two ways
* The hard way, this will help you migrate your former kotlin project to multiplatform .
* The easy way. for brand new project

https://youtu.be/8f37MIptcow?si=8tgxA8AUXYr6eo1a

I suggest you do a comprehensive course on Udemy as an instructor. Good one bro I enjoy the desktop part. It means you can build for Mac

1 Like

Programming / Re: OpenAI ChatGPT Conversation AI Shocked The World by Alphabyte2: 6:57pm On Jan 26
The idea of video to chat generation transcription with AI involves using artificial intelligence technology to convert or transcribe the content of a video into a text-based chat format. This innovation allows users to easily access and interact with video content through text-based chat interfaces, providing a more convenient and accessible alternative to traditional video viewing.

By utilizing AI algorithms and machine learning techniques, the technology can analyze the audio content of a video, convert it into written text, and organize it into a conversational format. This transcription can include not only the dialogue spoken in the video but also any relevant on-screen text or captions displayed.

The generated chat format offers several benefits. First, it allows users to consume video content in situations where they may not be able to watch or listen to it, such as in noisy environments or during times when audio playback is inconvenient. Additionally, individuals with hearing impairments can more easily access video content by reading the text-based chat instead of relying solely on audio.

Furthermore, video to chat transcription enhances accessibility by enabling users to search, skim, and navigate through the content in a more efficient manner. Users can quickly find specific information by searching for keywords or phrases within the chat, making it easier to locate specific moments or topics of interest.

Additionally, the chat format allows for interactive engagement with the video content. Users can ask questions, request more information, or seek clarification directly within the chat interface. The AI system can then provide responses based on the content of the video or redirect users to relevant sections of the transcript. This interactive element enhances the learning experience and provides a more personalized and engaging way to interact with video content.Imagine transcription of video to chat of any social media or video app .

Furthermore, the transcription can be translated into multiple languages, expanding the reach of the video content to a global audience. Users who may not understand the original language spoken in the video can benefit from reading the translated chat transcript in their preferred language.

Overall, the concept of video to chat generation transcription with AI opens up new possibilities for accessing and interacting with video content. It combines the convenience and accessibility of text-based communication with the rich and engaging experience of video. This innovation has the potential to revolutionize the way we consume, engage with, and learn from video content in a wide range of fields, including education, entertainment, marketing, and more.
Programming / Re: OpenAI ChatGPT Conversation AI Shocked The World by Alphabyte2: 4:50pm On Jan 26
Building a voice over AI for Android,iOS , Mac , windows seems to be a great idea with different dialect using Google Translation API.
Business / Re: How Interest Rates Affects The Economy By AI by Alphabyte2: 3:27pm On Jan 21
RepoMan007:
The submission of AI here assumes people are rich enough to save when interest rates are hiked.
Nigerians spend 60% of income on food and have little or no disposable income after shelter, transport, and other bills are settled.

Even the rich don't always react to interest rate changes as summarized by AI here. You give them tax cut thinking they will embrace production, they can decide their profit has increased and reduce or maintain production level.
Economics is interwinwe with human behavioural pattern and isn't electrical engr or mathematics with more predictable patterns.

The government's fiscal policy plays a significant role in shaping the economy. However, it is important to note that the impact of government policies on inflation and the cost of products and services can vary and may not be solely driven by the actions of the rich industrialists.

While it is true that certain policies may have unintended consequences such as price inflation, it is essential to consider various factors that contribute to the cost of operation for businesses, including startups. Besides government policies, other factors like market competition, supply and demand dynamics, labor costs, and technological advancements can also significantly influence the cost structure of businesses.

Regarding the news regarding Shell potentially selling its Nigeria onshore oil business for $2.4 billion, this is a significant development in the oil industry. However, it is crucial to understand that specific business decisions and transactions involving major companies like Shell are influenced by a multitude of factors, including market conditions, strategic considerations, and changing dynamics in the energy sector. The impact of this sale on the overall economy would depend on how it is executed and the subsequent actions taken by the parties involved.

It is unfortunate to hear that your startup failed due to high operational costs. While high costs can indeed be challenging for startups, it is important to analyze the specific factors that contributed to the failure and explore alternative strategies and solutions. Factors such as market positioning, competitive advantage, operational efficiency, and financial management play significant roles in determining the success of startups, along with the broader economic conditions and government policies.
Business / Re: How Interest Rates Affects The Economy By AI by Alphabyte2: 2:16pm On Jan 21
coputa:
This government is swimming against the economic tide and prosperity.

If CBN is increasing interest rate, what incentive are they giving to industralist to do business,no wonder they are closing shops in droves.

Tinubu has virtually ground the nations economy to a halt by his anti people policies

Industrialists are groaning under the heavyweight if multiple taxes coupled with lack of forex to do business,not to mention the burden of fuel subsidy removal that has stimulated cost push inflation

Insecurity is another salient matter
True there is insufficient forex to do business in Nigeria . Cash inflow is now restricted due to cashless policy . The country is getting poorer than other African nation . It is noted that more than 63% of persons living within Nigeria are indigent .The only solution is to improve on offering incentives to foreign or local investors improving Security, infrastructure, ensuring political stability and providing a favorable business climate. Encourage local businesses to increase exports by providing incentives such as tax breaks, subsidies, or access to foreign markets. This can lead to an inflow of foreign currency.

1 Like

Business / How Interest Rates Affects The Economy By AI by Alphabyte2: 1:35pm On Jan 21
If a rate cut is implemented, it makes borrowing cheaper for individuals and businesses. This encourages them to take out loans to finance their expenses or invest in projects, which in turn increases spending in the economy. This rise in spending stimulates economic growth and can lead to increased employment opportunities. A suitable rate for a stable economy is 1%-5% and 7% affects the economy it is above normal which is 5% causing inflation

Additionally, a rate cut can also lead to a decrease in interest income for savers. With lower returns on savings accounts and fixed-income investments, individuals may be more inclined to spend their money rather than save it. This further boosts consumer spending, which contributes to economic expansion.

On the other hand, when rates are hiked , borrowing becomes more expensive, which can discourage individuals and businesses from taking on new debt or making large purchases. This reduction in borrowing and spending can help to slow down the economy and reduce the risk of inflation.

When interest rates are high, saving becomes more attractive as individuals can earn higher returns on their investments. As more people choose to save rather than spend, there is less demand for goods and services in the economy, which can lead to a decrease in inflationary pressures.

Rate cuts increase spending and reduce inflation because they make borrowing cheaper and encourage consumption. Conversely, rate increases reduce spending and inflation by making borrowing more expensive and promoting saving.


In a surprising move on July 25th, 2023, the Central Bank of Nigeria (CBN) decided to raise its benchmark interest rate by 25 basis points (bps) to 18.75%. This decision comes as a slight deviation from market expectations, as analysts had predicted a higher increase. This move represents the fourth consecutive interest rate hike this year, resulting in the highest borrowing costs since the adoption of the monetary policy rate in 2006.

The decision to raise interest rates comes at a critical juncture for Nigeria's economic landscape. It coincides with the recent suspension of Central Bank Governor Godwin Emefiele by newly elected President Bola Tinubu. Emefiele had adopted unorthodox policies aimed at maintaining an artificially strong currency and providing direct lending to businesses in an attempt to stimulate economic growth.

The Nigerian economy has been grappling with a persistent upward trend in headline inflation, which reached 22.79% in June 2023. This represents the sixth consecutive month of inflationary acceleration and marks the highest level since September 2005, when inflation stood at a similar rate of 22.41%.

In light of these economic challenges, the CBN's decision to raise interest rates comes as an attempt to curb inflationary pressures and stabilize the currency. By increasing borrowing costs, the central bank hopes to reduce consumer spending and investment, which can lead to lower demand, thereby mitigating inflationary pressures.

The CBN's action indicates a shift away from the unconventional policies implemented by Emefiele. The new administration under President Tinubu is likely seeking a more orthodox approach to monetary policy, focusing on economic stability and the overall health of the Nigerian economy.

It remains to be seen how these developments will impact Nigeria's economic trajectory. The decision to raise interest rates, coupled with the suspension of the central bank governor, marks a significant shift in policy direction. Observers will closely monitor future monetary policy decisions and their impact on inflation and economic growth in the coming months.

Source: CBN (Money Market Indicators)

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (of 10 pages)

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 92
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.