₦airaland Forum

InvertedHammer:
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He is one of those that probably studied western Economics and wants to apply it to Nigerian voodoo economy.
Economics is constantly changing. Oyibo invent and apply new principles, write textbooks about them and a typical African reads, digests and try to mimic such in a chaotic environment. You are more likely to study Karl Marx economic theory than Adewale or Okeke economic theory because the latter does not exist.

How does increase in interest rate fix stagflation? None of the developed nations they try to copy has interest rate above 5%.

As of September 24, 2024, the interest rates in some G7 countries are:
Japan: 0.25%
Switzerland: 1.25%
Canada: 4.25%
United Kingdom: 5%
United States: 5%

And someone is trying to justify 27.5% interest rate in a country where the government is working tirelessly to make policies to stifle business growth
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Is like they submit their brains in frats when studying in the West in exchange for connections. They have consumer credit system whereby people overspend their account balance directly on consumer goods. Thats what makes interest rate influence consumer spending.
In a Nigeria where we average feeding with 75% of income compared to less than 10% in the west someone believes interests rate increase to some phantom industries will stem the tide of inflation caused by weak naira, middlemen unionism and reduced production. We are fuçked in Africa. Just look at the APC policies makers and what they spit out here. His partner in crime is Gbawe(now omőhayek) who has been in power since2015.

Why not annoint it?

Anytime i look at the BVN of a thing, i have a strong feeling something is wtong with how it was implemented.

grandstar:
The interest rates need to be higher than inflation.

Presently, inflation is 33%, while the CBN rate is 28.5%. It needs to be higher than inflation to be effective.

Economist like to use a phrase "in real terms"

Recently, a microfinance bani through their bank wanted me to save with them, offering me 20% interest rates.

I rejected it because it was lower than inflation. Though it looked tempting, the fact the rate was lower than inflation, this put me off.

Saving rate - the inflation rate

20%-33% = -13%.

In real terms, I was losing 13%.

If they offered me 35%, I would most likely have jumped at it as I would make 2% in real terms.

Inflation is too high and it's hurting everyone.

You are irredeemable sir.

grandstar:
This is the problem with you: you never want to learn.

You prefer to proffer uneducated answers to economic issues.

Economics is about 400 years old if I'm correct. People are awarded Nobel prizes. It comes with a doctorate program. Someone can not rise up one morning, spurring rubbish, thinking he talking economics.

Go through that link and educate yourself.

For interest rates to work effectively, it must be higher than inflation.

https://www.google.com/amp/s/businessday.ng/big-read/article/cbn-mops-up-n1-51trn-in-four-months-to-stabilise-economy/%3famp

I want you to answer these 2 questions after reading the article.

1. Who are the target institutions in an OMO?

2. What does OMO stand for?

Why is it not working then? Or is it working in your own opinion? You mean that N1.5Tr came from the lower class of the society and has stemmed the tide of inflation thats steadily increasing? You are wonderfully brainwashed beyond what verifiable results can concvince otherwise.

[b]
On 15 September, the first day of loading, the Dangote Refinery supplied NNPC Retail Ltd 2.48 millionlitres of petrol in 56 trucks.On 16 September, NNPC Retail and AYM Shafa74 truck loaded 3.3 million litres; while on 17 September 4.5 million, giving a total of 10.3 million litres in three days, instead of 75 million litres.

However, Chiejina, claimed in an interview with Vanguard Newspaper, without evidence, that Dangote Refinery had supplied 111 million litres within those three days.“We have already loaded 111 million litres of petrol, and the exercise is ongoing. We are refining and have no reason not to load. So, loading is ongoing and we will continue to provide the product to the market,” Vanguard quoted him as saying.

Here again, Chiejina appears to have been economical with the truth as official Dangote Refinery documents for the period showed that the facility only refined 24,700 metric tonnes of petrol, about 33 million litres at 1,322.76 litres per ton. This is 42 million litres short of the 75 million the refinery committed to supplying for three days, at 25 million per day. The refinery, according marketers must load at least 500 trucks daily, with each vehicle carrying at least 50,000 litres of petrol to meet this volume. This appears difficult but with the facility’s 177 loading points, they feel it can be done.

[/b]

The above excerpt is a pointer to NNPC trying to inflate local consumption figure and i take the recent statements from Dangote regarding actual local consumption volume as a call to Nigerians to be vigilant in the early days of this trade relationship. NNPCL is a den of corruption.

Man-know-man kingdom has happened to her.

The best way to blow now is content.

The other day i saw a video of fishes raining in awka, anambra state. Thats somethjng i can orcestrate by using drones to drop fishes in an area of 15m X 15m(225msq) and recording it as some kind of supernatural or strange act to generate a traffic crearing content. Even our govt, it is content they are using to manage our expectations.

Ask them how the interest rate increase stops or reduces inflation and you will hear plenty of nothing. Grandstar, food is ready o.

Same Ebonyi the immediate past governor built a dormant 36B Naira airport or another?

Too risky.

May be they have forward contracts they are trying to settle before switching to Dangote diesel.

Adakintroy:
Some wife's are corrupt.

Them too de add at times.

Nigerian wives.

Sharingiscaring:
And Oshiomhole politically resurrected.

both are financially alive because of immunity.

...but financially on top. That's Nigeria politics for you.

iwaeda:
Dangote lamentations is far more than Jeremiah. If NNPCL is not selling crude, go to Ghana,,Sa Tome, Sierra Lone, Angola or Algeria. The more you know, the less you see of this refinery.

If he goes to CBN and asks for $100m forex every month for crude import, Naira will probably exchange at N2500-N3500 to $1.

brain54:
It's best not to rely on nnpc for your crude...

Those ones can disappoint at any time.

Very selfish and unreliable bunch!

Their own unreliability inspired them to avoid investing in what can grow their revenue. That just goes to show the people in charge of NNPCL are the problem and Cabal.

I called for the useless Buhari govt to go for 50% and if they fall short hopefully they land on around 25-35 percent stake. Dangote will reap the fruits then haters will start crying monopoly tune again.
The govt is busy building redundant road and flyovers.

Attacking on seven fronts in disquise but coming out as neutral.

Funkyswagzz:
Ppl like you should be tracked and eliminated cos you are the major problem of this country

with otumokpor, tech or both?

Hausa dagger?

Salewa97:
Toh

So if the NNPCL's cost of petrol is 15% more than Dangote's, why is the price difference between the two not up to that percentage?

?

Beremx:
Dangote and NNPCL are playing hanky panky games with Nigerians. Una never tell Nigerians the truth of what's going on between you too.

Make una continue

Dangote is not playing games. He is private individual and represent only his own business interest.

Even a blind man knows that. NNPCL has been politicising the whole issue against Dangote.

Trash as expected.

Never4getU:
NNPCL isn't driving prices down in fact they're the major problem in the mainstream of the oil market. How do u explain buying fuel refined in Nigeria at the same price as imported one by oil marketers??

Crude was sold at naira rate and refine in Nigeria so we should enjoy the benefit of zero dollar exchange of that product

How much is it going for in Togo CIV, Ghana, Cameroon and Kenya? Thats what marketers will sell for ince they have control of the market. Just look at rice and other crop the govt subsidizes their production through borrowers programs

Ibrahim79mantu:
You people should do away with these smuggling stories. Are tankers now invisible or too small to be seen when they're crossing the so called borders? Aren't customs supposed to be manning the borders? Away with all these frivolous excuses

Speaking like a goat-brained fella. When tinubu wanted to remive subsidy he acknowledged smuggling Now is the time to assume it doesn't exist.

IamANigerianMan:
Even POS boot you don't have, you are disagreeing with DANGOTE

Just tell us you hve sold your soul to one rich and probably occultic man so to you a rich man is always right. I disagree with him still. Now go and die.

Xwizard:
[b] not when fuel is 54naira in Libya [/b

Imagine landing cost will be below 300 naira if bought from cheap Libya

lol.

Subsidy is expensive to maintain and already crippling us as an economy but i disagree with him here.

The actual consumption figure cannot be quaged by what goes out of his refinery. The NNPCL is stepping in as a monopoly force in order to drive prices down on behalf of a govt eager to lower prices. That leaves us still with difference between our prices and our neighbour's and thats the basis for smuggling.
Tracking trucks is good but there are other means of smuggling it from border areas out.

God's chosen nation(ethnic nation) actually.

Brendaniel:
When you read news like this you just know how much the government has failed, when 2 terrorist groups have enough time and space to fight each other without fear of the government or the Nigerian military...

Well, like I said before, these guys are not Tinubu's priority because they don't threaten his ambition or his political structure, protesters are more dangerous to Tinubu than these terrorists because they threaten his ambition and political structure

No one died. Dude has to be spared the bullet and this is the plan to tick his name on the list of neutralized figures. You think they will serve up their untouchables like that. You are gullible. They only showed you pics off the Nigerien guy cos feeling for him is nonexistent.