₦airaland Forum

MedicH:
You are very funny. A poor rat is justifying his oppressors for imposing harsh economic realities upon him. Your focus is on contractionary fiscal policies, the one govt chose to cushion inflation which only affects you and not the one that affects government. If there are few goods to purchase, why is government not chasing services to create discretionary sending. Why is government creating more services due to stuffs like road constructions, equipping schools, hospitals and stuffs to put services on ground which will extract the money in circulation but na the one that affects u they go like.

ode

Oyiboman69:
just stop this thing you're disturbing this page with. you're leaving the most important things like insecurity and be defining inflation as this cause of this. Where is the too much money you're claiming that it is in circulation? ,or am I not in Nigeria again. Blame any other cause but too much money in the circulation....

AKWATGOLD1:
Mr. Right, did you know implications on increasing existing interest rate to the companies that is finance by facilities (loan) and other peasant borrowers. Mr economics

olaztek:
This your textbook economics no dey work for naija. The cbn has been manipulating the monetary policy and still, the economy is not improving.
There should be a special study into naija economics because the generally acceptable law of economics is useless in this country

lonecatt:
Are you also celebrating the fact that your country depends on only oil for export?
What did buhari tell you when he was seeking for election?
Why are there no local industries producing goods for exports ?
Why do you support a government whose only dependence for revenue is oil?
Why have we been borrowing over the years just to build infrastructures that will not help local businesses?
Why are investors running away only for you to start increasing interest rate just to meet up for the investors you chase away?
Are Nigerians to blame for the failures of those they entrusted with power who claim they would turn things around economically?
How do we believe or take serious those who from day one have blamed the previous government for the economic woes Nigeria is presently witnessing? What is their business in governance in the first place?

sammyuche:
You're not quoting a novice sir as I'm well vast on the subject matter. Same tax rate was increased to 13% just last year alone. So we should keep increasing tax rate just to curb an inflating economy? Then that's a failed economy. Rubbish

Zico5:
Just answer the simple question I put forward. Tell me one economic growth we are enjoying under him

Ohraykon:
go sleep kwanu agbado people

Zico5:
You don't know what u are saying. Tell me one economic growth the guy has achieved since he assumed the position of CBN governor. Tell me one economic policy this country is enjoying currently under him. Dollar is now 630 naira at the black market. I may not be an economist but I know what's going on in this country.

lonecatt:
Raising interest rate without the enabling environment for small businesses to thrive is not only wicked but evil

Subsidywise20:
Even then

1.If Dangote had taken over the PH refinery, any fuel sold from there would have been sold at a higher price than the 'government price'.

Busienssmen don't run charities, they run businesses. They won't come and renovate stuff for you and dash you for free...it has to earn a profit so that it can keep on running well enough.

2.So long as fuel is being sold below what it costs to produce and transport it to the end user...it does not matter if Dangote runs PH refinery, it would still be at a loss.



He is taking a risk...plus government has basically said that when his refinery is ready, subsidy is going.



Problem with your arrangement is that production costs keep on rising...because refinery has to be upgraded, expanded, maintained, etc. Subsidy costs rise as a result. If they keep rising...then government would be spending more of the budget subsidisng any fuel...and taking more loans to make up the deficit.

Let's not forget that crude oil prices also rise too.



No, if subsidy goes, the trillions go back to the TREASURY...meaning government has more money to spend on things like educaiton, health, roads, etc etc...and spends less time taking loans...


No, Yaradua, Obasanjo , GEJ and Buhari are all the same...they kept subsides...and that limited growth in the industry..and wrecked our refineries...from running at a loss

AKWATGOLD1:
This CBN governor is a big idiot to say that increase interest rate is to tame inflation.

Zico5:
This man is not competent at all for the exalted position he occupied. Thank God he is from South east. I wonder what his brother will say if he comes from South west. He will surely sink this country together with his wanderer president

Vanzcharles:
Nawa o, so many ignorant people. Interest rate increase helps to curb inflation. I am not pro buhari but I understand forex to a point and its advantage to the country's economy.

sammyuche:
You'll never see those disgusting zombies on this thread

Risentouch:
The same reason they attacked Atiku in 2019

Subsidywise20:
They did not, they continued with subsidy. That is what chased away private hands from rehab and operating refineries., or even doing new ones.

Subsidy means that fuel would be sold at a loss, and government pays the petroleum industry some money..the subsidy...to cover that loss. In practice, since costs of production rise all the time...the subsidy is inadequate.

That is why we haven't had any new refineries from NNPC...NNPC has always operated at a loss for a long time.

If GEJ-Yaradua had removed subsidy, yes, we would have been buying fuel at N150 as early as 2011, BUT....there would have been enough incentive for private people to run refineries.

Privatising refineries does not mean that Company W would come and build new refinery from you...they must surely make a profit while doing so. If they cannot...they won't come. Using an example from the GSM sector...all those facilites MTN, Airtel, and Glo built...ya think they would have done so if government did not allow them to set the price of their service..so that they could recoup their investment.

Nigerians need to give up this idea that fuel must be cheap...it is driving away investment.

cybersoldiers:
You're indeed a big fool.

So its cool that APC Tinubu increase price of everything in the market.

There no difference between you and the drug lord.

NLElder:
Why for goodness sake is it so impossible for refineries to work to capacity in Nigeria? Must we keep importing what we produce? Why is Nigeria so cursed? Even the so called Dangote Refinery they were making noise about has suddenly fizzled away! I am totally tired of this country.

Pharaoh4rin:
APC is evil, but more evil are the supporters of the party such as bbqmannagrillz, helinus, etc who still see nothing wrong in their mortal exercise.

bigfish3k:
This is a government of fraud and deceit
Why the quiet increment

APC is just ashamed of itself

And they are still paying subsidy more than triple what Jonathan paid

I suspect that they are just raising money for vote buying for the 2023 elections

I have never seen a party so evil
And yet they still have supporters. Chai.

Perfectbeing:
is Dangote not borrowing more than 100 billion for his refinery to make more money?

You're really an amazing folk yourself.

tochman:
sounds funny right? Lets say you want to build (or start up a business) something that has the ability to generate money on a short/long term basis that requires a lot of money. If you can borrow that money to execute and are willing and able to pay back after a specified period of time, is there anything wrong in that?

Ohraykon:
and oyetola lost how come?

Ohraykon:
agbado people

DAwest7:
. Obviously OBIdiently coming from a fresh looser una never Shi shomtin

tochman:
Im may be wrong but a lot has changed since the days of obi, inflation and all. Maybe he wants to use money to make money. Abi isn't it possible?

Tb222:
Good for the Adeleke's i hope nobody will heap blames on him if his uncle underperforms .

tochman:
Im not deceived bro. If a state doesnt have enough IGR, its going to end up borrowing for Serious Development. The govt handouts is just for paying salaries and settling big boys in the state. Simple

maberry:
Keep your mouth shut