Fuel subsidy cost Nigeria 10b dollar yearly and you borrow 10b dollar to support the naira so what progress have we made

DeLaRue:
It is a double edge sword.

As CBN rate rises, commercial banks will increase savings/fixed deposit rates, thereby attracting more savers who will be locked into 12 months or more term.

This will indirectly reduce the money available for spending and thus reduce patronage of many goods. As traders and manufacturers wait to exploit consumers with predatory prices, less and less people will buy their goods. As their warehouses pile up with unsold goods, they'll have to reduce prices, thus helping to reduce inflation.

Increasing interest rate will also mean the government can issue bonds at rates that will be attractive to foreign investors. More dollars should flow into the country.

The bad news is:

As Cbn increases interest rate, banks too will increase there lending rate with the likely result that:

1. More businesses that depend on bank loans will lay off staff or even close down

2. There will be fewer new investments- businesses can't survive on 33% - 35% loan rate

3. More pain for the economy generally.

Unfortunately, with the amount of money printed by Mr Buhari's government, the CBN will have to keep increasing interest rate in order to mop up excess liquidity and control inflation.

Managing a large economy in times of crises is a sophisticated game of chess. For every positive steps, there are multiple potential negative consequences. There are usually no easy solutions.

Unfortunately for politicians, the public want solutions NOW! or they dabaru everything and even call for coup

The public is not interested in, nor do they understand economic theories.

there is easy solution if they really know what they are doing but they don't want to do it. Emefiele knew he printed money and he needs to mop up the naira before Dec last year to control the effects of the printing but this same people fight that because they want to win election by sharing money unfortunately this is the consequence of that decision

ivolt:

He is lying.
Binance p2p started 4 years ago and the highest volume per year is less than $500 million dollars.
Let us use the highest figure, that gives about $2 billion dollars in 4 years.

So where did he get the $26 billion from?

Nigeria's Binance transaction volume is less than 1% of CBN's yearly dollar sale.

that man can lie,as big as Dangote refinary it's less than 21b dollar,how much transactions is binance doing yearly just call a dog a bad name so as to nailed it

Everyone run away since it's yoruba and Igbo that are both involved

ILoveNG:
This packaged fraud will never be our President 😂🤲🏽

If a more smarter person with impressive academic and administrative credentials is having a tough time dealing with a problem, I wonder what a 3rd class Dumbo with no outstanding governance record can do.

His followers no rate us at all.

So Tinubu is the one that is smart,smart and cannot answer questions in Chatham house but throwing the question to Fayemi and Elrufai can both people help him now.Tinubu is overrated he knows nothing than to play money politics, acedimic wise he cannot stand up to Obi

Biodun556:
May Tinubu succeed

lias the other time they said the refinary is ready in December at another time the say they want to privatize the refinary today another lie. Anytime NLC want to go on strike they look for lies to tell. Government of deception

That was what he said during the other palliative and we see nothing,the same governor that said he gave LG money to fix road before he was exposed continue to lie one month we soon be here

dawnomike:
Is Bureau de Change now illegal?

that is the question we need to ask.when FG silent them you will only get dollar from the bank. The bank will buy your dollar less and sell to you high.unfortunatelly for FG people will move to other African countries to make FX transactions and the problem will be worse

I can't pray for people that stole our mandate.Apc is a wicked party.say to the wicked he shall be I'll with him

hothead:
market stabilization actions are needed yes, but Banning crypto could push the ecosystem underground, making it harder to regulate and potentially exacerbating financial instability. A balanced approach, where crypto is regulated and integrated into the financial system with proper oversight, is a better choice.

This would allow FG harness its benefits while mitigating its risks. Benefits like having
1) alternative financial system,
2) potentially increases financial inclusion,
3)transparency of transactions,
4) better supply and demand management

Direct inflation control measures that will Strengthen the economic fundamentals

here are monetary policy proposals for Nigeria involving crypto and blockchain, targeting inflation control without stifling growth:

- Manufacturing Zones: Establish special economic zones with incentives for manufacturers, including tax breaks and infrastructure support to spur industrial growth.

- Crypto-Backed Agricultural Lending: Launch a blockchain-enabled platform for issuing crypto-backed loans to farmers at below-market interest rates. This encourages agricultural productivity, a sector crucial for growth and inflation control, by providing much-needed capital. The use of crypto ensures ease of distribution and repayment, while blockchain technology ensures transparency and tracking of fund usage.

- Blockchain-Managed Supply Chain Financing: Implement a supply chain financing system using blockchain to provide liquidity to small and medium-sized enterprises (SMEs). By using a stablecoin pegged to the Naira, businesses can transact and receive financing with more stability, reducing the pressure on forex demand, a key contributor to inflation.


- Tourism Development Strategy: Develop historical and cultural sites, invest in tourist infrastructure, and market aggressively to international tourists to boost foreign exchange earnings.

Transaction Ledgers. A public ledger recording all transactions to ensure transparency.
It can have Privacy settings to balance transparency with confidentiality through diversification and increased productivity.

Digital Infrastructure Bonds: Issue blockchain-based bonds to fund digital infrastructure projects, attracting global crypto investors and ensuring transparent use of funds.

That is great

Government is responsible for all the nonsense if someone send dollar to you they will buy it less the value but when you want to buy from them they sell high but Aboki price is the same for buying and selling that is why people go to Aboki. Secondly our dollar expenditure is far far higher than dollar income.most of those in senate have dollar they kept somewhere.can the president swear that he doesn't have dollar store somewhere

Mr Denis got it wrong, Nigeria has no brand at all our politicians have destroyed it since.how many Kenya politicians goes to UK for treatment,their children school abroad,our leaders steal our common weatth and stacked in abroad, rigged and kill during election in 24 century so which brand are you talking about.they arrest terrorist and let them go or integrate them into the army. I don't think Nigeria still have honour,it only in Nigeria snake swallow millions and nothing happened

Another big lies. no source ,no pix ,just lies

EreluRoz:
It is well, the asiwaju I know is excellent with governance but I can't really say what's happening.

Hmm something tells me the opposition are attacking him spiritually to fail

which Asiwaju is excellent with Governance, Check SW states that Asiwaju and APC led for more than 16 years which of the state can you say is well develop. The development in Lagos is simply because of the Port and the international airport to attract people to lagos

Obiedun:
Many dreamers and fake prophecy givers said more than that before the general election last year.

you thought those prophesy are over?then you don't understand prophesy. Tinubu did a lot of sacrifice to avert those prophesy but they will still come to pass.true prophesy can only be delayed but can't be denial. I pray that God's will be done

matify83:
Politics will finally wreck trump.

I hope he doesn't become the first ex-president to wind up in jail.

Hear the judge on Trump's bloated assets declaration:

Trump still had a duty to make good faith financial disclosures and adding a disclaimer clause doesn't absolve that responsibility

you need to read well he has been strip of his license first and that has been appealed so this second judgement by the same judge will still be appealed. Just like Nafdac saying smoker is liable to die young and still approve cigarettes,so if you smoke and die you are on your own

adamusuleiman2:

You Gerrit.

The 3rd picture is the Igbo pastor that said one Igbo man equals 500 Hausa men. That's Peter Obi attending his cross over service.

from the video you watched you know this is a religious war but mind you Tinubu will never succeeds and the north will never know peace as long you fight the truth. Maybe you thought what is happening to Nigeria is ordinary,The God of the christians is at work just watch

I have seen this in the South West people come to party to pack left over food from people s plate,I asked one of them what they want to do with it and she said that is what they eat to survive I was shocked.APC has succeeded in turning many to Alumajiri

I think I remember when I was small I use to hear seriki Kano. This person may be right

Do you know if you take a good bitter cleanser regularly you will not have cancer? Nigeria have good bitters that prevent Cancer but we don't showcase what we have

femisplash:
Removal of subsidy, floating of the naira, removal of FX arbitrage, investigation into CBN finances, stopping NNPCL from receipts of oil revenues, restructuring NNPCL, gas revolution and expansion, rehabiliation of refineries, decentralisation of electricity, rehabilitation of Ajaokuta steel, increased states's FAAC allocations, constitutional review, etc. The President is systematically retooling and refixing the structure from its core. For far too long we have lived a fake lifestyle and false economic realities, an import-dependent country with little or no buffer whereby 98% of her revenues services loan facility and parasitic subsidy payments. Those nations we help develop their economy through imporation with scarce FX, had at a time in their history gone through similar or worse sacrfices and economic turbulence. The current surgical economic and structural revolution is for the greater good of the country.

the man doesn't know what he is doing,why removing subsidy from what you are not producing and floating the Naira at the same time when you have not increase the amount of dollars earn or moving first from a consuming nation to a producing nation before floating the Naira.Tinubu put us in a great mess without proper planning and good economic advicer.Ego is killing that man because he taught Nigeria is Lagos

Rubbish this what they have reduced Nigerian to. You are distributing 50k and the bag of rice is almost 80k. They have succeeded in making Nigerians beggers

ArewaNorth:


https://dailytrust.com/photos-military-bursts-gun-factory-in-plateau/

they will always catch the christian producing arms but the Islamic terrorist are walking freely with AK-47 . Unfortunately captain James led the team that capture the building.oma se o

Until you leave US and come back to Nigeria and stay I will not believe you

Hambivert:
It is sad that Emefiele was a willing tool in the hands of his adversaries. Sadly, he sided with the loosing team. However I strongly believe his case is a case of 'individualised witch hunting'. He alone couldn't have stolen, where are the others being prosecuted?

Sparogatively, Emefiele is still better than Cardoso, even though they are all of the same bunch of clueless men. Cardoso has turned the CBN to a trial-test unit with his teial anx error policies.

this people failed already why will Emefiele forged document to pay international observer.Dont worry all the truth will come out

Entprys:
He told me that AFCON Trophy isn't heading nigeria.

I dey laff.
Una neva si enitin.

"Ebi npa wa". "I never chop" no dey touch Trophy

You have to respect me also

Paraman:
I agree with Sanusi. Tinubu will get us out of this mess before the year end

you people have started again. Tinubu is a bad leader ,even when he was the governor of Lagos state he did not do well,he was only covered by the good work of OBJ.

Everything APC government associates with always end in tears.SHETIMA why did you go to IVORY COAST

Somebody that have not eaten cannot climp bridge

What do you expect from a JAGA JAGA government

Karlifate:
Everybody wants to associate with the best — Lionel Messi


The Europi-Arab supporters will soon fi this thread with their tears in 3...2...1...

PSG vs Al naslr Messi played with Neymar and kyan and other great PSG players yet Cr7 play better than all of them in that match . Messi score one goal but C boy score 2. .compare Ronaldo goal with that of Messi which was the best goal,CR,7 of course.

Injustoneweek1:
Please let's stick to standard by not discussing any player that has never played a world cup final in his career.

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Why not talk about the man that won five champion League and remain the highest goal scorer in the history of champions league.Ronaldo is the greatest of all