₦airaland Forum

LandMann:
Inflation is going to go higher, naira is going to depreciate more... Nigerians are going to suffer more.

Emkv come and defend your useless government

Thats it.

RoeEvi:
Too much cash flow cripples the economy

Not for tinubu.

NothingDoMe:
Serious inflation

Yes o.

Cc: grandstar.

All these organised protests to me are orchestrated by partisan elements in high places. The real protest that will shaake up the polity will have to be spontaneaous and less organised.

Thats why we are always regressive at national level. Cocoa research institute too not spared . All the agencies that can kickstart development and advancement of Africa are like that.

Tinubu supporters cries, speaks in tongues.

It is time a militant group targeted at that useless NNPCL is formed.

The money Judas was keeping as treasurer, where did it come from?

OmovuduTheBeast:
So terrorist attacks are now blatantly carried out in Abuja, yet the bastards who went to Ojota to cry and protest against Goodluck Jonathan haven't protested till now.

Ovakporaye, you can hit ojota too. Nobody is your fool.

Salewa97:
Below is the list of languages that some banks in Canada allow with their customer service.

It seems in USA, Canada, and the UK, the Yoruba with if group far outnumber any other African ethnicity.

Tinubu is working indeed.

InvertedHammer:
/
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
/

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?

?