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Politics / Contractionary Monetary Policy Cannot Solve The Problem Of Inflation In Nigeria by kahal29: 11:18pm On Sep 05, 2022 |
We will not use wage and price controls to fight inflation. Rather, we will pursue a contractionary monetary policy. We will mop up excess liquidity by reducing the money supply within an economy. https://www.nairaland.com/7317958/use-contractionary-monetary-policy-fight In response to the above thread i want to humbly inform Mr Peter Obi that Contractionary Monetary Policy which he is proposing cannot Solve the Problem of Inflation in Nigeria. This is because Inflation in Nigeria is not always and everywhere a monetary phenomenon. Besides this is what the central bank of Nigeria has been doing over the years meaning that you can't follow suit and expect a different result. First, what is monetary policy? Monetary Policy simply means the use of interest rate by the monetary authorities in this case the CBN to control the amount of money in circulation. This can either be in the form of contractionary or expansionary monetary policy. Contractionary Monetary Policy means increasing interest rate to reduce money supply and hence reduce inflation while expansionary monetary policy means reducing interest rate to boost the amount money in circulation. According to the monetarist, inflation is as a result of too much money in circulation or excess liquidity and according to them, to reduce it, you increase interest rate and vice versa. However the success of using monetary policy tool to achieve price stability or control inflation depends on whether inflation is driven purely by changes in monetary aggregates. If it is driven by other factors such as structural and cost factors as is the case in Nigeria then the use of monetary policy tool to fight inflation may not likely yield the desired medium to long-term monetary policy goals. Besides increasing interest rates has its own negative consequences on the economy one of which is that it reduces Investment. Note: The intention of this post is not to de-market anybody but to elicit academic contribution to the topic. 4 Likes |
Politics / Re: I Will Crush, Flog My Detractors In PDP, Wike Vows by kahal29: 7:29pm On Sep 05, 2022 |
Nonexisting1: |
Politics / Re: I Will Crush, Flog My Detractors In PDP, Wike Vows by kahal29: 6:50pm On Sep 05, 2022 |
Politics / I Will Crush, Flog My Detractors In PDP, Wike Vows by kahal29: 6:30pm On Sep 05, 2022 |
Rivers Governor Nyesom Wike has vowed that he will not leave his battle in the Peoples Democratic Party (PDP) to God. He said God has given him the wherewithal to crush his enemies in the party. The Governor insisted that he had the capacity to flog his opposers, whom he described as small boys, saying he won’t wait to “flog them with pepper”. Wike, who spoke in tongues to the amusement of the crowd, said efforts by some of his party leaders to break his ranks would end in futility. The Governor, who spoke on Monday while inaugurating the Osisioma Flyover built in Aba, Abia by Governor Okezie Ikpeazu, said persons trying to infiltrate his team to weaken their resolve failed to understand their modus operandi. Wike hinted that they were simply forerunners to the real actors behind the scene adding that trying to break the team was a mistake. Speaking on his response when Ikpeazu suggested he should leave matters to God, he said: “I was on plane with him and we were discussing and he said why won’t I leave this thing for God and I said what do you mean by that? “Why are you overcrowding God? God has given me what it takes for me to crush these people, for me to crush my enemies and you are telling me I should leave it for God. No. God has give me what it takes. God has so many things to do. There are the ones I should do and there are the ones I should call God. “Now that I know I have the capacity to flog these small boys and you want me to go and leave it for God. I am going to flog them pepper. Anybody who doesn’t understand that let him know that I am not going to wait at all. All those ones who are talking in my state calm down, when we start campaigning, we will know who is who”. On efforts to infiltrate their ranks, he said: “I don’t associate myself with those who cannot show anything. I associate myself with people I know have something to offer. Ikpeazu I want to say it without fear or favour and without any contradiction, you are a man that knows what to do for his people. “I and Ikpeazu have come a long way. People do not understand relationship. They think relationship can be bought with money. No relationship can be bought with me. That is why when I read on pages of newspaper, they said some people were making attempts to break my rank and I say they don’t understand the modus operandi of what we are doing. “If they understand the modus operandi they won’t waste their time. If you like go and meet Ikpeazu, Seyi, Ortom, Ugwuanyi, you don’t even understand the modus operandi. These are not the people doing what you are seeing. We are using ourselves as if we are the people. We are not the people so you are making mistakes”. Wike told the crowd that the PDP National Chairman, Iyorchia Ayu, described Ikpeazu as a boy because they were seeking justice and fairness in the party. The Governor said the party had distributed positions to Alhaji Atiku Abubakar, Governor Ifeanyi Okowa of Delta State and former Senate President Bukola Saraki but had nothing to offer Abia State. He said even government positions such as Senate Presidency and Secretary to Federal Government had been allotted to people without anything yet for Abia. He said: “All those they are fighting are those who are projecting their party. They said that Abia State Governor is a boy, Wike is a boy, Seyi is a boy, Ortom is a boy and Enugu is a boy see what the boys are doing. They that are the men should show us what they are doing. “Why is Ikpeazu a boy? It is because Ikpeazu said agreement is agreement. You told me you will do this, now time has come for you to do it you don’t want to do it. Is it good? Ikpeazu said look you have shared to this one, you shared to Atiku, you shared to Okowa and you shared to Saraki, which one did you share to Ikpeazu? “When you are sharing Senate President to so so person, you shared secretary to government to so so person, which one have you given to the people of Abia. “Nobody should bother about any abuses on me. I don’t even know whether they are abusing me. If they like let them put everything in social media and abuse me we will know who is relevant or not at the appropriate time. “Politics is not to go on pages of newspaper. It is not to go and buy TV spots and talk. Politics is who will deliver at the appropriate time. That is the key. If you like keep abusing me. “What is important is when the time comes, we will know. When the jungle matures we will know those who can stand crisis. We will know those who have the capacity to say this is where our state will go. “Ikpeazu is one of those governors with the capacity to decide what the people of Abia will do. So don’t bother yourselves. when I wake up in the morning and nothing had been said against me I am worried because it makes me happy when they talk about Wike. I appeal to them don’t stop keep talking about Wike. “We have not started campaign. When I came back yesterday where I went to enjoy myself; life is full of enjoyment. I went to enjoy my life and they said I went for a meeting. My business now is to work and enjoy”. https://thenationonlineng.net/i-will-crush-flog-my-detractors-in-pdp-wike-vows/ https://punchng.com/wike-vows-to-flog-crush-pdp-small-boys/ https://www.youtube.com/watch?v=2cQGTDYbSR0 |
Politics / Re: Stop Following Wike Around, Tackle Abia’s Infrastructural Deficit, Ikpeazu Told by kahal29: 9:24am On Sep 03, 2022 |
Asgard73: Hahahaha |
Politics / Stop Following Wike Around, Tackle Abia’s Infrastructural Deficit, Ikpeazu Told by kahal29: 8:58am On Sep 03, 2022 |
A chieftain of the ruling Peoples Democratic Party, PDP, in Abia State and former Commissioner for Local Government and Chieftaincy Affairs, Chief Charles Ogbonnaya, has advised Gov. Okezie Ikpeazu to concentrate on how to address the infrastructural challenges in Abia State instead of following Gov. Nyesom Wike around the world. Chief Ogbonnaya who is the Abia State Cordinator of the Campaign Council of the PDP presidential candidate Alhaji Atiku Abubarkar, described as a distraction, the recent meetings in London involving Gov Ikpeazu, Wike, Samuel Ortom of Benue State, and presidential candidates of major parties. According to Ogbonnaya who featured on a live Radio programme monitored by Vanguard in Umuahiia, “Ikpeazu should at this point, centre on how to tackle infrastructural problems bedeviling Abia State”. He said that Ikpeazu’s romance with Wike “is all about his personal interest” instead of advancing the interest of the state. ” I’m an Abian, and I don’t think Wike is competent to discuss the benefits of Abia. We have our own problems. ” The major problem of Abia State today is collapse of Infrastructure. Look at the federal roads in Abia. They are not motorable. It’s difficult to go to Owerri from Umuahia or Umuahia to Port Harcourt and Akwa Ibom. Arochukwu and Bende Roads are impassable. ” Why must I go to think of appointment now other than what my people will get?” The Atiku’s ally also called on Gov. Ikpeazu to consult with the elders of the party in the state to outline the needs of the state for further articulation at the centre. ” With due respect, I call on my Governor to look for the elders of the state. No one man goes alone to negotiate for his people. Let him call the elders. There were people who were here before him. There has to be a town hall meeting to articulate what we want. ” We want a free trade zone; we want the natural Sea Port that God gave us at Obehie to be established by the Federal Government. What is happening to the rail line from Port Harcourt to Maiduguri? Ogbonnaya said that efforts were being intensified by the Campaign Council to mobilise Abia voters for Atiku, arguing that contrary to fears in some quarters, South East’s interest will be protected under Atiku presidency. He described Atiku as a unifier and a man with capacity to pull Nigeria out of the woods. ” Atiku is one Nigerian I know that does not have a tribe. I have been following him since 1994 and I understand him to be a true Nigerian; a great unifier, and someone who believes in the oneness of Nigeria. ” Atiku believes in the good brains irrespective of their tribe. When you go to American University owned by Atiku you will see people from all parts of Nigeria working for him. Go to his farm, factories and business, they are run by best brains from different parts of the country”. Contributing, Director Media, Publicity and Strategy of the Atiku Abubakar presidential Organisation, Chief Kingsley Megwara, cautioned Ndigbo against what he called ” putting their eggs in one basket” to avoid their current ordeals under the current administration. He said that Atiku would heal the wounds of the various aggrieved sections of the country and quickly fix the economy if voted into power. Similarly, Secretary, All Igbo Youths for Atiku, Hon. Ifeanyi Umere, said Igbo youths would vote massively for Atiku more than they did in 2019. https://www.vanguardngr.com/2022/09/stop-following-wike-around-tackle-abias-infrastructural-deficit-ikpeazu-told/ |
Politics / Re: Bode George: Ayu Must Go Before Campaigns Start by kahal29: 4:41am On Sep 02, 2022 |
Corridon: 2 Likes |
Politics / Bode George: Ayu Must Go Before Campaigns Start by kahal29: 4:22am On Sep 02, 2022 |
FORMER South-West Deputy National Chairman of Peoples Democratic Party (PDP), Chief Olabode George has said that Senator Iyorcha Ayu must quit as national chairman of the party before the commencement of electioneering campaigns for 2023 general elections. https://www.vanguardngr.com/2022/09/ayu-must-go-before-campaigns-start-bode-george/ https://www.youtube.com/watch?v=VZIne4S1QaQ 1 Like
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Politics / Re: BREAKING:We will help PDP lose election in 2023– Wike by kahal29: 5:22pm On Sep 01, 2022 |
Politics / Re: Wike To Ayu: We Brought You From Gutter To Be PDP Chairman — Don’t Be Arrogant by kahal29: 3:49pm On Sep 01, 2022 |
Politics / Re: Ayu was resurrected from gutters to become chairman - Wike by kahal29: 3:43pm On Sep 01, 2022 |
Politics / Wike Blasts PDP Chairman, Iyorchia Ayu, For Arrogance, Ingratitude by kahal29: 3:27pm On Sep 01, 2022 |
https://www.youtube.com/watch?v=ssvGDIy5Brg Arrogance, Ingratitude Can’t Take You Anywhere, Wike Blasts PDP Chairman https://www.channelstv.com/2022/09/01/arrogance-ingratitude-cant-take-you-anywhere-wike-blasts-pdp-chairman/ 10 Likes 2 Shares |
Politics / Re: Ayu was resurrected from gutters to become chairman - Wike by kahal29: 3:11pm On Sep 01, 2022 |
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Politics / Re: 2023: I’ll Do The Bidding Of Nigerians Not Few Individuals - Wike by kahal29: 3:12pm On Aug 31, 2022 |
Politics / Re: God Will Confuse Them - Gov Wike Tells PDP and Political Opponents [Video] by kahal29: 2:49pm On Aug 31, 2022 |
Darren95: Are you sure? |
Politics / God Will Confuse Them - Gov Wike Tells PDP and Political Opponents [Video] by kahal29: 2:39pm On Aug 31, 2022 |
God Will Confuse Them’ – Wike Says He Would Rather Struggle Than Succumb – In Latest Outburst Against PDP And Political Opponents https://www.youtube.com/watch?v=qO_jMqwxUvs |
Politics / PDP Crisis: Leave Me Alone, Wike Tells Makarfi And Atiku Supporters [Video] by kahal29: 4:14pm On Aug 30, 2022 |
Leave Me Alone' Wike Challenges Makarfi And Atiku Core Supporters To Deliver Their States Come 2023 https://www.youtube.com/watch?v=rhoX8_4TeMg&t=103s |
Politics / Re: 2023: I Will Expose Presidential Candidates On Looting Mission – Wike by kahal29: 6:47am On Aug 30, 2022 |
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Politics / Wike: Something Will Soon Happen In PDP by kahal29: 5:17pm On Aug 29, 2022 |
Rivers Governor Nyesom Wike has vowed to unmask presidential candidates dishing out fake promises to rescue the country. https://thenationonlineng.net/something-will-soon-happen-in-pdp-says-wike/ 15 Likes 3 Shares
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Politics / EXCLUSIVE: Wike’s Allies Demand Ayu’s Resignation As Condition For Peace by kahal29: 5:19pm On Aug 26, 2022 |
Allies of Nyesom Wike, governor of Rivers state, have demanded the resignation of Iyorchia Ayu, national chairman of the Peoples Democratic Party (PDP), TheCable can report. Sources said the allies made the demand when Atiku Abubakar, presidential candidate of the PDP, met with them in an attempt to resolve the rift between him and Wike. Meanwhile, it has also emerged that some members of the PDP national working committee national (NWC) are pushing for a probe of the party’s finances under Ayu’s watch. Thursday’s meeting, which was also attended by governors Seyi Makinde, Samuel Ortom and Okezie Ikpeazu, was held at Carlton Hotel in London. Six PDP governors are thought to be aligned with Wike in his face-off with Atiku who reportedly angered them by saying he did not pick Wike as his running mate because he cannot work with him. Atiku was accused of being “impolitic”, further worsened by public statements made by former governors Sule Lamido and Babangida Aliyu which Wike’s associates consider “disparaging”. Lamido described Wike as an “emperor” and said Atiku did not need him to win the presidential election. TheCable reported how the PDP standard bearer embarked on a frantic trip to the UK to have a parley with Wike — after the latter’s meeting with Bola Tinubu, presidential candidate of All Progressives Congress (APC), in France, earlier in the week. The meeting between Wike and Tinubu is said to have explored the possibility of the Rivers governor working for the APC at the polls. A crisis rocked the boat of the main opposition party after it held its presidential primary election in May. Party stakeholders expressed concerns that Abubakar ignored Wike after he chose Ifeanyi Okowa, governor of Delta, as his running mate. Wike’s side said Ayu would need to step down for there to be harmony in the opposition party. “Governors in Wike’s group demanded that Ayu would have to resign for peace to reign in the party. They said he is a divisive figure,” a source close to Atiku, who briefed TheCable after the meeting, said. Ayu openly celebrated when Atiku won the party’s ticket, describing Aminu Tambuwal, Sokoto governor who withdrew to support Atiku, as “the hero of the convention”. In a counter to the demand for Ayu’s resignation, the former vice-president said Umar Damagum, deputy national chairman (north), would become the chairman according to the PDP constitution — meaning another person from the north would hold sway in the party. But the governors said both would have to resign than and pave the way for Taofeek Arapaja, deputy national chairman (south), to be in charge of the party. “They said it is about consensus for the good of the party. Atiku told them that he would think about it and get back within two weeks,” another source said. “They also said that in 2011, Okwesilieze Nwodo resigned and paved the way for Haliru Mohammed Bello to become national chairman because the party’s presidential was coming to the south through Dr Goodluck Jonathan.” Ayu is also faced with another brewing problem. An insider told TheCable that some members of the NWC want Ayu to account for the funds that accrued to the party through the sale of forms and donations. “Some of the NWC members want an audit for about N1 billion that the party got from friends of Atiku, in addition to donates from governors and sale of nomination forms,” the insider said. The opposition party and APC raked in billions of naira through the sale of forms in the build-up to their primary elections. https://www.thecable.ng/exclusive-wikes-allies-demand-ayus-resignation-as-condition-for-peace/amp 1 Like |
Politics / Rivers Governorship Candidate, Fubara, Absent As Ayu Hosts PDP Nominees by kahal29: 10:36am On Aug 25, 2022 |
Allies of the Rivers State Governor, Nyesome Wike, shunned a meeting between the Peoples Democratic Party National Working Committee (NWC) and the 36 States gubernatorial candidates in Abuja, yesterday. https://www.sunnewsonline.com/2023-rivers-governorship-candidate-absent-as-ayu-hosts-pdp-nominees-2/ 2 Likes
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Politics / Wike To Lamido: You Have No Political Value, PDP Lost Jigawa On Your Watch by kahal29: 8:01pm On Aug 24, 2022 |
Nyesom Wike, governor of Rivers, says Sule Lamido, former governor of Jigawa, has not added value to the Peoples Democratic Party (PDP) since 2015. https://www.thecable.ng/wike-to-lamido-you-have-no-political-value-pdp-lost-jigawa-on-your-watch/amp 51 Likes 5 Shares
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Politics / Tinubu, Wike’s London Meeting Rattles PDP, Atiku by kahal29: 5:22am On Aug 24, 2022 |
The London meeting of the Presidential Candidate of the All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu and the Rivers State governor, Nyesom Wike has unsettled the Peoples Democratic Party (PDP) and its Presidential Candidate, Atiku Abubakar, Daily Trust reports. https://dailytrust.com/tinubu-wikes-london-meeting-rattles-pdp-atiku 16 Likes 3 Shares
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Politics / Re: 2023 Election Results Will Be Collated Manually – INEC by kahal29: 4:59am On Aug 21, 2022 |
Politics / Re: Gov Wike Vows To Crush His Political Enemies [Video] by kahal29: 4:47am On Aug 21, 2022 |
ChangetheChange: |
Politics / Gov Wike Vows To Crush His Political Enemies [Video] by kahal29: 10:48pm On Aug 20, 2022 |
Wike Spoils For War As Crisis With Atiku Lingers: 'I Will Finish Them', Watch Him Tell Opposing Rivers PDP Leaders To Get 'Ready For Fireworks' Speaking at the flagging off ceremony of the construction of the internal roads in Omagwa, Ikwerre Local Government Area of the state on Saturday, Governor Wike threatened to fight to finish, maintaining that he will “finish” anyone who pitches his tent with “enemies of the state Wike said, if anybody fights our system, that they will fight the person back. He went on to say that, he will leave his enemy and finish you first All of you, who are going to Abuja to hold meetings with their enemies in this state, he is going to finish it to the last. He said you can't come here, gain from the state, be a contractor, get money, then move to Abuja to hold meeting with our enemy and you say I will leave you free, no I will not leave you free. https://www.youtube.com/watch?v=O8TxXEhX_MY https://www.youtube.com/watch?v=qoOnqtYBxxU |
Politics / Rivers Government Seals Businesses Of Pro-Atiku PDP Members - Thisday by kahal29: 8:36am On Aug 20, 2022 |
Security operatives early hours of yesterday, sealed-up business outlets of supporters of presidential candidate of the Peoples Democratic Party (PDP), Alhaji Abubakar Atiku and former Deputy Speaker of House of Representatives, Austin Opara, located in the Port Harcourt metropolis, Rivers State.https://www.thisdaylive.com/index.php/2022/08/20/rivers-government-seals-businesses-of-pro-atiku-pdp-members/ 11 Likes
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Politics / Re: How Rivers Elders Ganged Up Against Me - Wike by kahal29: 9:52am On Aug 16, 2022 |
Politics / How Rivers Elders Ganged Up Against Me - Wike by kahal29: 3:46am On Aug 16, 2022 |
Rivers State Governor, Nyesom Wike, on Monday, accused some elders of the state of ganging up against him because they did not scale through the primary to be the governorship candidate of the Peoples Democratic Party in the state. The governor explained that some of them, who indicated interest to fly the party’s flag but failed, went to mobilise in Abuja to ensure that he did not emerge the running mate of the presidential candidate of the PDP, Atiku Abubakar. Wike spoke during the 74th birthday reception organised to honour a former governor of the state, Dr. Peter Odili, at his residence in Old Government Residential Area, Port Harcourt. This was contained in a statement issued by the Special Assistant to the Governor on Media, Mr Kelvin Ebiri, and made available to journalists in Port Harcourt. Ebiri quoted the governor as saying that, “On my last birthday, 12midnight, one of our elders called me that they want to see me. They came to me and said they came to wish me happy birthday. “Then, they presented me a letter that I should run for President. All of them, including Dr. Abiye (Sekibo) signed the document. “I said ‘okay, you people too should go and give me someone who will be governor after me.’ They all sat there, looking left and right. “I asked them, ‘those of you who are interested to be governor should raise your hands.’ Everybody raised his hand. One person didn’t raise his hand, Senator Bari Mpigi. “I asked why he was not interested, he replied, ‘sir, let me hold what God has given me. I don’t want to lose the two.” Wike noted the elders also signed a document that they would abide by the outcome of the governorship primary. He, however, expressed regrets that since they were not successful, they have turned around now to allege that he was pursuing a third term bid. He added, “Some persons don’t know the history. They go and tell all kinds of story. But the truth is this: all of them (elders) signed the document prepared by O.C.J. Okocha that whoever I will bring, they will abide to it. “But now, they went to Abuja, that I must not be vice president. I also read yesterday when I was in Paris, one of them saying that I told him that if they do to me what they did to Dr. Odili, that I will collapse the system. “I am not an ungrateful person and I will never be ungrateful in my life. What is important is that I have done well as a governor. I am happy and I am leaving office a happy man.” https://www.youtube.com/watch?v=rLPQ3x5DdlI https://punchng.com/running-mate-wike-accuses-rivers-elders-of-gang-up/ |
Politics / Re: Don’t Call My Name If You Lose This Election - Wike Tells Atiku by kahal29: 4:34pm On Aug 12, 2022 |
Politics / Re: Don’t Call My Name If You Lose This Election - Wike Tells Atiku by kahal29: 4:33pm On Aug 12, 2022 |
I Plotted Against Gbajabiamila, But PDP Governors Sabotaged Me -Watch Wike Openly Confess To Speaker https://www.youtube.com/watch?v=0OG-rtZvnuc Gbaja to Wike..... Choke Them https://www.youtube.com/watch?v=maG6vsppmuY |
Politics / Don’t Call My Name If You Lose This Election - Wike Tells Atiku by kahal29: 4:33pm On Aug 12, 2022 |
Leave Me Alone - Wike Cautions Atiku, Lists Why PDP Presidential Candidate Should Worry Ahead Of 2023 https://www.youtube.com/watch?v=PBUs_x4Z2fk |
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