₦airaland Forum

Obiagelli:
No i should pay 50 because you are bound by law (budget) to pay me 30 naira except you are going to return the 20 naira in dispute back to Nigeria.

The 20 naira that you insist must be returned is what the government wants to return.


That's why people like me are saying invest it into other productive sectors like agriculture and industries.

barcanista:
what do you mean separate politics? What is political in what I posted? you obviously have no clue on that, I will let it slide. As for Fashola, he is 500% on point.

This below is what Fashola missed.

BlackTechnology:
Subsidy means you pay a fraction of the real cost.
Eg a car cost 100naira and I promise to pay 30naira for you. How much will you pay .? 70naira
Now if the price of the car reduces to 80naira, how much will I pay for you.? 10naira.
So in essense govt will spend less on subsidy

Obiagelli:
Please don't make me laugh, how has the cuts in subsidy overtime help those sectors you mentioned?


We were talking about inflation and its effects on interest rates in the other thread. Do you know that increase in fuel pump price increase inflation and in turn increases interest rates?

Fuel drives our local economy because it account for about the highest expenditure in both small and large businesses. Fuel is the major source of power.

I just explained to you using an example that government will spend less on subsidy but price remains the same

BlackTechnology:
Subsidy means you pay a fraction of the real cost.
Eg a car cost 100naira and I promise to pay 30naira for you. How much will you pay .? 70naira
Now if the price of the car reduces to 80naira, how much will I pay for you.? 10naira.
So in essense govt will spend less on subsidy

Obiagelli:
You mean the government is making money off Nigerians and they are yet to publicly declare it? Don't forget that subsidy money is budgeted.

Subsidy means you pay a fraction of the real cost.

Eg a car cost 100naira and I promise to pay 30naira for you. How much will you pay .? 70naira

Now if the price of the car reduces to 80naira, how much will I pay for you.? 10naira.


So in essense govt will spend less on subsidy

barcanista:
With the present situation, the subsidy is not a bad idea, the problem is sincerity of government. The corruption, fiscal indiscipline, executive rascality and poor fiscal policies of the government are the problem of this country. If these can be achieved, there will be no need for the subsidy as the people will be benefiting a lot from the system, then see the subsidy as unnecessary. As for now, the subsidy is going nowhere

Separate economics from politics

The most dangerous fans are those who supports you when you are wrong


Barcanista

Fashola got this wrong


Amount spent reduces but price remains the same.

Collynzo9:
Bros in any case, the price is still supposed to drop because the naira did not fall as much as the price of crude oil.
However, I believe what will drop is the amount spent in subsidizing those products rather than the price of the products.

Gbam


It is the subsidy amount spent that should drop and not the price of petrol.


Obiagelli


This is where Fashola mixed things up.

Obiagelli:
How does the average man benefit from subsidy removal?

Instead of subsidising fuel, we should invest subsidy money(#800b) into establishing a Small or Medium scale factory size that can be expanded with time.
1) Agriculture/ process agriculture
2) Mining/ process minerals
3) Electrical industry
4) Electronic industry
5) Tools industry
6) Mechanical industry
7) Petrochemical industry
Chemical industry.


They can invest #100b in each for 10yrs after which they privatized the businesses.


#100b × 10yrs = #1trillion invested in each industry for ten years

Obiagelli:
How will they ensure that importers wont pretend to be manufacturers?
Let them just bring the damn thing down and allow custom duties and other incentives encourage production.

There is a list of every manufacturing firm at corporate and business registration head office


So instruct banks to give those manufacturing businesses that meets the requirements interest rate at 6% and also allow banks to control 10% of our foreign reserve to help banks finance more of these businesses.

Obiagelli:
Well said, the fall of the naira have cancelled our gains but we might have to do more calculations,

how many litres do they get from a barrel of crude.

Is 30 nairs increase on the dollar enough to cancel out $40 saving on falling crude? I don't think so.

CC. Jmaine, Barcarnista, CFCfan, BlackTechnology datolee.

Subsidy should be removed completely


Fashola is wrong . His view reinforces subsidy .

Obiagelli:
Besides, its CBN policy to curb inflation. Very daft policy i must say.

The 13% should be for only importers but interest rate for key productive sectors should be reduced to 6%.


So CBN is partially correct but will be completely correct if it reduces interest rate for key productive sectors.

FolarinToks:
Empty chest beating idiot, come and see your hard-working brothers and sisters struggling/owing a full year house rent. I know how many times i have begged my grannies to let your brothers and sisters continue to stay in those flats for d sake of God and we-their grandchildren who are all over d place around d world.

The same story with my father shopping mall in Akure............. After initial payments, some of your brothers are now struggling to pay their store/shop rent...... If not for my sake and that my emotional quote-Dad, we(their children) could equally find ourselves anywhere around d world as tenants in d future and someone would equally treat us the way they treat dese Ibos............

Your father's shopping mall or mud shops.

FolarinToks:
Do i expect someone from the land of apes to comprehend a bigoted write up, written by his brother? i think you already know the answer........

Odua= land of 10century BC mud houses due to political hypocrisy.

OrlandoOwoh:
A northerner is a northerner. To hell with religious dichotomy. There is no division in the north on the basis of religion. Gowon, a christian was installed by M. Mohammad, a moslem. M. Mohammad, a moslem was installed by Joe Garba, a christian.

If there is no religion in the North, dress like a Muslim to JOS indigenous villages.


After 2wks come back and tell me your experience if you are not dead.

FolarinToks:
Mofo served in Ekiti but failed to see thousands of his brothers and sisters hawking/selling their fake products with wheel-barrow at Erekesan Market and of course Fayose market in Ado. In addition, those innocent and flat-headed children with pot bellies you see on our streets are your little brothers u know.

The same story in Akure; i presumed you didn't see thousands of your brothers and sisters who refused to go School under the pretence of one apprenticeship or d other in Akure and those your brothers nd sisters selling/hawking along Oba Adesida, Oja Isinkan and Nepa market...............

Let me stop here cos i could go on and on.............

Apart from Lagos

Tell us one Yoruba town not filled with mud houses


You guys hypocrisy is the major reason why progress elude you guys


Those Igbo guys will hawk and build good homes for their families

What do you guys achieve with all you political sophistication.? 10 century BC Mud houses.

FolarinToks:
I ll advise you to go over that bigoted write up again and come back here to apologise Ote..............

I repeat you are olodo


Go through his post and you might understand better


Op has made it clear

They are criminals in all ethnic group

Don't praise any because you want power at all cost

PentiumPro:
Very funny

So IGBOS have been completely out of power in the last 50 years? Biko spare us this nonsense jooor.

You see the disadvantage of free amala education

1966 - 2019 will make it 53 yrs since the last Igbo Ironsi held real power.

1975- 2019 will make it 44 yrs since the last Northern Christian Gowon held real power.

PentiumPro:
Very funny

So IGBOS have been completely out of power in the last 50 years? Biko spare us this nonsense jooor.

You see the disadvantage of free amala education

1966 - 2019 will make it 53 yrs since the last Igbo Ironsi held real power.

1975- 2019 will make it 43 yrs since the last Northern Christian Gowon held real power.

FolarinToks:
Having read what was written by one stupid pinhead from the land of apes, I now agreed with every other Nigerians that you guys(Ibos) are nothing but fools. You and your brothers are the most foolish humans on earth. You guys are just pathetic and let me say this here, we-Yorubas can't wait for you parasites to leave Odua nation and Nigeria as whole. What are you(chest-beater) waiting for, start a war if you are really serious about gaining independence.

Aguiyi Ironsi is a Yoruba man i presumed, Nnamdi Azikiwe is an Hausa man and of course all the Ibo Politicians-Okadigbo, Wabara, Ekwueme, Ojukwu, Nnamani are aliens in Nigeria politics. And being aliens in Nigeria politics, nobody can hold them responsible for the failure of d past governments in which these guys are part of. Yeye dey smell!!!

Yoruba man (Yorubas didn't even vote for Obasanjo) was only a president for 8years(exluding his military presidency) in the whole history of this great country. And your brothers and sisters are more favoured in Obasanjo government than his brothers and sisters from south west. Soludo, Wabara, Okadigbo, Nnamani, Nzeribe, Ngozi Iwealla, Ezekwesili, Okereke-stock exchange, Dora akunyili were all part of that government you claimed to have failed, tagging/calling that government a failure simply cos the president was a Yoruba man but forgetting that your brothers and sisters are active part of that failed government. However, that failed government is better than your brother Jonathan government in every ways.

Listen, let me bring the collective failure of your brothers and sisters to your notice in case u r not aware of it; to let you know how useless your brothers and sisters in government are, 70% of active actors in Jonathan government are from the east and the result of their collective failure is staring at all Nigerians today. The first government that is being run completely by your brothers and sisters turn out to be the most useless, corrupt, inept, blundering and unproductive government in the history of this country Mofo.

Finally, if your brothers and sisters from your Landlocked are not part of Nigeria problem as you and your likes are trying/tried hard to make us to believe, how come your Landlocked remain undeveloped and unhabitable? why do your brothers and sisters run to better regions-west and north in millions in search of a better life that eludes them in your so called Alaigbo? how come your governors are not being held responsible for your poverty stricken states?

.

This one did not do comprehension in primary school


Op said stop making it look as if other past leaders are saint compared to GEJ just because they are from SW and North

Olodo

Comprehend before you write.

TRUTHTELA:
BIGOTRY, MYOPIC and BACKWARD, thinking has made many of you to be so DEBASED.

You boast about how Igbo's, never tested and not going to be the president of Nigeria and you fail to bury your face in SHAME how your own folks LOOTED and ran one of the greatest countries on earth to ground. Hausa and Yourba's have never produced any " president", rather, YOU GAVE NIGERIA ROGUES 1960-2010. If I am wrong, count Nigeria's past rulers and look around you.

From 1970- 2010, the so called presidents ( MYOPIC ROGUES), that ruled Nigeria, failed to REDUCE THE POWER OF THE PRESIDENCY or build STRONG INSTITUTIONS that would have have CHECKED the excesses of GEJ or anyone that becomes the president, rather, you made the presidency a DEMI-GOD and ABUSED your power to fullest, but when GEJ, used that same power you built ( follow y'all path) everyone will be screaming.

The UNEDUCATED and SHORT-SIGHTED Hausa muslims and Yourbas that were at the helm of affairs in Nigeria, from 1970-2010 failed to make INEC an INDEPENDENT organization. In terms of funding and appointing the INEC chief, INEC's independence would have helped the organization to be as NEUTRAL as possible, consequently, FREE and FAIR elections will not continue to be a mirage... YOU CAN'T EAT YOUR CAKE AND HAVE IT.

I DISLIKE GEJ, as a president. If I was living in Nigeria, I wouldn't have voted for him, however, I CHOSE to SUPPORT him against MONSTERS trying to make him look bad I hope you UNDERSTAND the difference.

Hausa's and Yourba's made Jonathan the CORRUPT, VISIONLESS DICTATOR that he is. Jonathan has FAILED. If he wins again, HE WILL FAIL the second time. Obasanjo, FAILED 1st term and FAILED 2nd term ( OBj, is living in REGRET, why do you think he keeps attacking GEJ?). The presidents that ruled Nigeria before Obj, in 1999, THEY ALSO FAIL, WHY? Because of the SYSTEM, THE SYSTEM, THE SYSTEM.

I don't care about which party elects the next president, I can assure that the whoever becomes the next president will also FAIL. Before the APC or PDP president will even settle the ETHNIC TENSION that will spring up after the election, 2-3 years is gone, the rest two years, he will be sourcing for LOANS to use in running the country, because ,NIGERIA IS BROKE, NIGERIA IS BROKE (The biggest economy in the world, USA, is not buying Nigeria's oil again, and they have discovered their own oil, hence, the CRASH IN OIL PRICES).

Yourba's, should stop bad-mouthing Igbo's, or hating on GEJ, UNNECESSARILY, I mean, give it a break. I love the fact that Yourba's recognizes a FAILURE when they see one. Millions of yourba's chose not to VOTE or SUPPORT Obasanjo, in 1999, simply because they know HE WAS/IS A FAILURE, the yourba intellectuals in AD/AFENIFERE kept screaming that OBJ, ruined Nigeria, as a military president and that he'll repeat it again, and he just did. An economist, Chief Olu falae, was the candidate most yourba's wanted/voted, now compare Falae to a military ruler with no HIGHER EDUCATION whatsoever.

Obj, DID NOT WIN HIS WARD IN OGUN STATE, YOU KNOW WHAT THAT MEANS? There's no way on earth he should have been Nigeria's president if Nigeria is not a SHIT HOLE or a BANANA REPUBLIC. In the USA/ UK, ( DEMOCRATIC and SANE) that most of you loved to use as an example when it suits you, Obj,'s CAMPAIGN and POPULARITY TEST, would have exposed how his PEOPLE DO NOT BELIEVE IN HIM, THEY DON'T WANT HIM TO REPRESENT THEM and HE WILL NEVER GET THE PARTY's ticket to contest an ELECTION. As you know, most Western politicians RESIGN or FAIL ELECTION just because of MARITAL/DOMESTIC issues, CHARITY BEGINS AT HOME.

In SOCIETIES, where vote counts, where CRIMINALITY and LOOTING is not being revered, Obj, will not be considered " POWERFUL". The same way folks taught IBB, was too powerful and he will destroy OBJ, until Obj, used the POWER OF THE PRESIDENT TO DEMYSTIFY him. If GEJ, CONSULTS or send PDP Gov's to meet Obj, that doesn't mean he's "BEGGING", you folks should WAKE UP!! GEJ, might be trying to EXHAUST ALL MEANS, ( because obj made him VP and don't want to appear "ungrateful) before he UNLEASHES and curtail OBJ, just like OBJ, CURTAILED IBB, and T.A Orji curtailed Orji Kalu, Chime curtailed Nnamani, Ladoja curtailed Adedibu and how other INCUMBENTS curtail their PREDECESSORS. Some of you may not realized, even, Gbenga Daniel CURTAILED Obj in Ogun state. FYI, nobody is more powerful than Nigeria's president.

IF GEJ FAILED TO CAGE OBJ (the sleeper agent) JUST LIKE ABACHA DID, OBJ, WILL HELP GEJ TO GET ABACHA's TREATMENT. GEJ SHOULD COME UP WITH ANY CHARGES AND JAIL OBJ BEFORE ITS TOO LATE ( the surprise will hatch the international plot against GEJ).

Out of all the INTELLECTUALS and BRIGHT MINDS that worked with Obasanjo, for 8 years, that FAILURE couldn't see any VISIONARY dude to handover Nigeria to, it was Yar'adua and Jonathan?? And all of a sudden Obj, mean well for Nigeria?? History will Judge him and his OFFSPRING WILL BE ASHAMED TO USE HIS LAST NAME, JUST LIKE THE Taylor's, Doe's, Amin's Gadafi's, etc, have buried their head in shame at the global stage.

FYI, the way Nigeria's time bomb is ticking, GEJ, YARDUA, OBJ, IBB, ABDUSALAMI, ANENIH, DANJUMA, and their ilk will escape with their private jets, but I can assure you that their KIDS and GRAND KIDS will be so ASHAMED BOOED and DISGRACED whenever that LAST NAME is being mentioned. Whether PDP or APC wins, Nigeria, will never be the same again.

Now, when some of you TALK TRASH about Ubah, ( the dude that owns Capital Oil), you forget to realize that you produce the same OVERNIGHT BILLIONAIRES, and UNETHICAL ROGUES that became rich at the expense of your misery and their RELATIONSHIP with the power brokers. In the eyes of any FAIR MIND, Ifeanyi Ubah, is the Igbo version of Femi Otedola, Dangote, Dantata, Tukur, Isyaku Rabiu, and all other " OIL and GAS BILLIONAIRES " that helped Nigeria to become the only OPEC country that CANNOT refine its products locally. You praise a SEAMSTRESS and ROGUE like Fola Alakija, and you want to talk trash about Ngozi Iweala ?? Alakija, made clothes for rogues that ruled nigeria and they rewarded her with oil wells that belonged to the public, she made money, and forbes listed her, TO AN AN OBJECTIVE MIND, she's in the SAME CLASS with Tompolo, Asari, Bola Shagaya and their ilk that got rewarded with oil blocks by their allies in power.

Forbes list of RICH people in SANE countries is filled with INVENTORS that changed the world, FOUNDERS OF TECHNOLOGIES THAT MADE THE 21 CENTURY WHAT IT IS, ENTREPRENEURS THAT NEVER HAD ANY LINK WITH White House or No. 10 Downing street, the Western billionaires exported their INGENUITY to all corners of this world, but look at Nigeria's so called "Forbes List," filled with ROGUES and OIL WELL FRONTS" for past presidents, claiming to be manufactures, Dangote, Femi, Alakija, Rabiu, Adenuga, Kalu, etc. Each "billionaire" in Nigeria, is sitting on STATE OWNED RESOURCES. Take away the oil well from Adenuga, Otedola, Dantata, Danujma, Alakija, Dangote, Mei-Deribe, Atiku, and their ilk , then return it to the RIGHTFUL OWNER, ( FEDERAL REPUBLIC OF NIGERIA), then, present these folks to the world again, and lets see how much they have made from their " SMARTNESS".

Saudi and USA billionaires, represents CLEAN MONEY and it reflects in the STANDARD OF LIVING in their societies. Look at your billionaires and their "private jet" and look around your neighborhood, an OBJECTIVE mind will know that SOMETHING IS NOT JUST RIGHT.

Ifeanyi Ubah's TANoid or whatever organization he's using to support GEJ, is not different from what Arisekola's SERVITUDE to the Northern Military ( BETRAYAL) and that was why OAU or IFE students ATTACKED and VANDALIZED his armored car. Adedibu, played the same role TANoid is playing now. Hundreds of NADECO and AFENIFERE members sang Abacha and IBB's praises too. FYI, Kola Abiola, ( MKO's first son) expressed his DISAPPOINTMENT in the so called Yourba elders, how they will protest about JUNE 12, in the day time and when it gets DARK, they'll go to IBB and Abacha to collect money. Ifeanyi Uba is doing what Chief Akintola and Fedrick Fasheun, did in the past, if you know what I mean.

Buhari's footsoldiers destroyed properties of many prominent Northerners simply because they did what Ifeanyi Ubah, is doing now. Dangote, crashed the price of his cement, that's his own TANoid supporting the GOVERNMENT IN POWER. Every tribe have their own Ifenayi Ubah, right from the military days. Ubah owes debt, just like Dangote and hundreds of othe business men in Nigeria

Whenever, I read some of your comments about how your State is " MORE DEVELOPED " by Igbo states, I laughed and laughed it off, and It will prove that whoever wrote that is a SUPER VILLAGE CHAMPION that has never visited the EAST, neither has the person touched down in any DEVELOPED LOCAL COUNCIL OR COUNTY IN SANE COUNTRIES. You saw pictures of Aba on NL, and ignorance filled your head rite?

Fact: If you have lived in any SANE/ DEVELOPED SOCIETY, you will know that all the corners of Nigeria, is a HELL HOLE, right from Murtala airport. If you doubt me, why is that any Nigeria that can afford it, POLITICIANS, CELEBRITIES, BUSINESSMEN ,etc that are from your so called " DEVELOPED" states, is always in USA, EUROPE, DUBAI, SEYCHELLES, GHANA, CARIBBEAN ISLANDS, etc for CHILD BIRTH, MEDICAL CHECK-UP, VACATION, SHOPPING, WEDDING, etc. WHY ARE THEY NOT DOING THESE THINGS IN THE SO CALLED DEVELOPED STATES??

GEJ, IHEJIRIKA, ORITSEJAFOR, PDP, and all GEJ friends are the ones "SPONSORING " Boko haram, against the INNOCENT AND RESOURCE RICH NORTHERNERS, oh poor North,. STOP BEING A COWARD! when MEND and co were bombing Niger Delta, they BOLDY Acknowledge the militancy and state what they were fighting for. Stop being cowards, if GEJ, dies or lose election, the so called group will drop their " ISLAMIZE NIGERIA" agenda.

The noise and media HYPE about " WE YOURBA'S " won't vote for GEJ, is a total BS. SW PDP GOVERNORS and SW PDP heavy weights will DELIVER their states to PDP ( when you vote, you will go home OR your parents will be calling you to come back before you'll fall victim, and you will hear and see the presidential result from the SW, just as EKITI SHOCKED you, you will be shocked again.)Election is not being conducted on NL or any other media. When will the opposition start their campaign and cover the 36 states and FCT? Even in a HOT BED like Miaidugiri, GEJ, got Ali Modu, yes, GEJ is DESPERATE for reelection, so was Obj, you want GEJ, to take things for granted? NO WAY!!

IF HE GEJ, LOSE OR WINS 2015 ELECTION NIGERIA, WILL NEVER BE THE SAME AGAIN. THE STUDENTS OF HISTORY LIKE ME, GOT FACTS AND FIGURES OF HOW YOURBA AND HAUSA ELITES RAN THE COUNTRY TO THE GROUND. I WILL NOT FAIL TO EXPRESS THE ROLE EACH ANY EVERY OF YOUR ELITES PLAYED IN CRITICAL STAGES OF NIGERIA'S POLITICAL DEVELOPMENT.

ROGUES LIKE IBB, ABACHA, OBJ AND BABA " go slow" LIKE YAR'ADUA BEEN HEROES, BECAUSE PEOPLE DESPERATELY WANT TO RULE NIGERIA.

PDP, HAS BECOME EVIL AND NOBODY IS TALKING ABOUT THE MONSTERS THAT MADE A SIMPLY acronym P.D.P evil. SOME YOURBAs and HAUSAs CONTRIBUTED IN MAKING PDP THE EVIL PARTY, CONSEQUENTLY, MADE NIGERIA THE FAILURE SHE IS. YET YOU IDENTIFY WITH THESE INDIVIDUALS, SIMPLY BECAUSE THEY CHANGED PARTY or FROM YOUR TRIBE AND FIGHTING A MINORITY, HONESTLY, YOU DESERVE EVERY DARKNESS, UNTARRED ROADS, EMTPY HOSPITALS AND FAILED EDUCATION SYSTEM THAT YOUR OFFSPRINGS ARE GOING TO INHERIT IN THAT LAND. I WILL RESPECT YOU IF YOU DON'T SUPPORT PDP/APC.

Guy you just murdered some hypocrites


God bless you.

PentiumPro:
How can he hand over to David Mark or an Igbo man?

Simple

By telling the world that a Northern Christian is yet to rule after Gowon or that the Igbos last tasted power more 50 years ago.

PentiumPro:
This is the type of comment that when you hear of real life opinions of people about NL, you get discourage coming here.


Plain and willful ignorant comments everywhere you turn to.

I am disappointed in you


After 2019 whose peoples turn do you think it is.?

MOBJECTIVE:
whitecat2 hope this helps

culled from Wikipedia:

Early Life
Roye was born into a prosperous African American family in Newark, Ohio. Roye was a descendant of the Igbo people.His father, John Roye, managed a ferry across the Wabash River at Terre Haute, Indiana and acquired considerable land in Terre Haute as well as Vandalia in the neighboring state of Illinois. As a result of the family's financial standing, young Edward was able to attend Ohio University in neighboring Athens, Ohio. In 1836, upon the premature death of his father, Roye relocated to Terre Haute where he established the community's largest barber shop, boasting a 79-foot (24 m) high barber pole, "the tallest in western Indiana".....

Whitecat2 pls change your moniker to greencat2

MOBJECTIVE:
sigh...guys please don't do this to my thread. There is nothing else to describe the guy, he was Liberian president b4 Nigeria even existed so that rules out Nigerian. Its surprising that he was Igbo, but what is interesting is how a descendant of former slaves from another part of Africa was allowed to become a president. Also interesting is his tenure as a president, and what they did to him when the economy failed. Right now that same African country has a female president, so its pretty much true to its name, Liberia, a place of liberal people. Imagine if Nigeria could be as liberal as they are...

You don't need to plead with those blank heads


Guy you tried

The truth is that they are Africans who meant well for their people but have fallen victim to unscrupulous persons organizations nations


Just like GEJ is trying his best to put things in order but some evil black and white persons, organizations/nations just seek to destroy his regime and set us backward because of greed.

atlwireles:
On Monday morning take any business person from your street or inner circle, seeking credit, walk into any bank and request credit. Come back and tell us how it went. Please try all the banks in your area of operation.

I went with a close blood to obtain loan last 2wks and they gladly gave us

This close blood is a business person so I do have the opportunity of interacting with the person co-business partner


Their greatest complain is high interest rate and collateral( guarantors).

To be frank, l am close to people who have good bad and ugly banking relationship.

atlwireles:
let's not do this again. I just showed you a place where almost zero interest made no difference in the business failure rates.. Nigeria businesses need access to credit, the market will regulate what the interest rate is set at. Fact is 90% of Nigerian business are not bankable. Deal with the underline fundamentals and allow the market do its thing.

If we need lower interest rates in Nigeria, then, let's control government spending and reduce the money supply.

Ok correct me


Don't you think you echoed my view and contradicted yourself.

You said our SME need access to credit.

Sir all these banks littering Nigerian landmass is it not credit they offer.?

Now if you agree with me that they offer credit, why is SMEs patronization low


Pls educate me.


Help me see your angle clearly.

CFCfan:
The interest rate here in the US, is 0.25%, as set by the federal reserve.

Yet Nigerian financial experts / graduates have failed to study why nations like US operate very low interest rate.

CFCfan:
Ironically, high interest rates is one of the tools central banks use to rein in inflation. With high interest rates, fewer people would be willing to borrow, thus limiting the amount of currency in circulation. Nigeria's inflation rate is around 8%.

But I believe that 30% interest rates will NEVER lead to sustained, robust economic growth. It is also estimated that the unemployment rate amongst the youth, and fresh graduates is over 70%: that's a time bomb waiting to explode. Somehow, the banks should be made to lend to SMEs at single digit rates, if the policy makers are serious about lifting more people into the middle class.

The problem with lots of central banks especially those in Africa is that they do not have a deep understanding of the relationship btw interest rate , inflation rate and economic development.


Unknown to them

Interest rate influences inflation rate and not vice versa


If interest rate decreases inflation rate decreases and vice versa


But most graduates of money courses think it is inflation rate that influences interest rate.

atlwireles:
What role is interest rate in developed nation playing here? 80% of new business fail in western Nation in their first 18 months. Even with 0% interest they still fail.

Do you know that more would have failed if the interest rate was increased.

Descartes phockphockman nigerianvenom biafraqueen egift aresa backdatassup ejine evergreen

This for intellectuals

No insult or politics needed


What will you do if you are CBN

Obiagelli:
Competition alone didn't kill hitv, high interest rates did. They took a loan to buy Epl rights, dstv did the same but interest rates in South Africa is far lower, about 9%. Tell me how these 2 companies are supposed to compete with the same subscription rate.

People do not know the power of interest rate and its impact on economic development


I wish atlwireles CFCfan and you could search out the interest rates of developed nations.

atlwireles:
That was the point I made, the problem for Nigerian business is not interest rates by access to credit. Business failing or dying yearly, is normal. 8 of 10 new business fail, because of

Lack of experience
Insufficient capital (money)
Poor location
Poor inventory management
Over-investment in fixed assets
Poor credit arrangement management
Personal use of business funds
Unexpected growth
Competition
Low Sales

High Interest rate is one major reason why SME avoid banks.

High interest rate leads to higher inflation rate.

Higher inflation rate leads to higher price of products.

Higher price of products leads to lower demand.


Lower demand leads to lower sales.

Lower sales leads to lower profit

Lower profit leads to collapse if income falls below expenses.






Obiagelli CFCfan and atlwireless

Descartes:
Just observed it but they are in the best situation to tell us more about the Antonov plane

.



It's a security tactics to cause the culprits to think the government has missed it so as to down the culprits cautious move.