₦airaland Forum

AntiZikist:
We know those cheering on the genocide.

Support what exactly? Palestine is an Islamic project to erase Israel and every well-meaning good people in the world must stand up to defeat this evil plot.

Europeans are gone after colonisation and Arabs are not planning to go. When will Arabs leave Africa?

The Federal Government denied Tinapa a Free Trade Zone. That's classic abandonment. But Goodluck Jonathan no try for them at all.

FreeStuffsNG:
2016 is different. Trump was up against Hillary Clinton of the Democrats and doesn't have multiple serious criminal and civil cases against him like now. As a matter of fact, what made him lose in 2020 has now got worse against him.

I will not be surprised if it ends up as Kamala Harris versus Niki Hailey

Nikki who? A former governor of South Carolina lost her State to Trump and still holds on to the primaries even when every other contender has endorsed Trump except Chris.

Democrats voting in Republican primaries is a political assault and should be criminalized.

I want to see people give Ikpeazu the credit he deserves. It is beginning to show that Ikpeazu had so many good works and infrastructural developments that were suppressed by the media and his opposition.

The project was dead, Ikpeazu took Nnaji to South Africa, secured a loan, and also invested approximately 5% of the state fund to see the project completed but they are hiding all he did to promote Old Bende politicians at the expense of Aba politicians.

We know Orji Uzor Kalu is Nwa Aba and so is Dr Ikpeazu. Aba is Alaigbo's Lagos, every Igbo person has a stake there.

They should prioritize the cultivation of cassava. Garri is and has always been a poor man's neighbour. Ask students what has been keeping them since Tinubu took over power.

Who told him that the government doesn't know them and their location?

The Buhari government suspended oil exploration in Eastern Nigeria amidst drying oil wells and shifted to Northern and Western Nigeria.

Where is the oil from Lagos State and Northern Nigeria to fill the void? Everything must not be political, Buhari killed Nigeria and Tinubu is burying Nigeria.

Yardua was the worst president in Nigeria's history except for the negotiation of peace in the Niger Delta, can you point to any other thing he achieved? He didn't implement the budget signed by the NASS. He just left the money dormant and did nothing.

Uyo was planned like a suburb. Take a look at Gaza City.

Look at the kind of person Tinubu employed as an advisor. Shouldn't advisers be more experienced and knowledgeable than the President in their chosen field?

This man is a lout.

JulianBond007:
you obviously didn't read the story before commenting. How do you know it's a fake story?

The guy hates everything Igbo with his last blood.

I suspect he is egift or Cleverly.

obiekunie01:
If only she could show us the postcode and the name of the school he attended, her relations would be located in a few weeks.

You said my mind.

Post the code, and you will be coming home in a few days.

Redomi:
Lagos on his mind

Thank goodness they don't own Abuja. Is it not Lagos State that becomes a ghost town during festival seasons?

Ewedegubbler:
definitely. but its never gona be an islamist nor a communist government. so make you lower your caliphate dream because its never happening in the next 10 millenniums...

Support for Israel in US is overwhelming

Geometric: Facts About Investment of $5m by Abia State Government Under the Watch of Dr Okezie Ikpeazu

Tinubu masterminded the printing of naira. This is the reason for inflation and downfall of Naira.

Buhari printed 22 billion while Tinubu is at N8 trillion. That's paper economy we have here

Rutherford2019:
In 8yrs Buhari printed 22 Trillion naira
In months Tinubu printed 8 Trillion naira
Total money printed 30 Trillion
Tinubu will print more money than Buhari after 8yrs

All of them should be on top Tinubu's head

This beauty of democracy and freedom to choose. It is evil to be loyal to a party irrespective of their bad decision against your interest or better still the interest of the larger society because sometimes we tend to be selfish.

If this continues. Multinational companies trading in naira will withdraw from Nigeria. There is no magic wand to sustain a dollar-based balance sheet in a floated valueless currency like the present-day Naira.

I have been saying this from day one. Tinubu is the cause of the financial problem and economic breakdown in Nigeria. Tinubu advised Buhari and CBN to print more cash during COVID-19 and as soon as he won the presidency, is like he clutched on printing cash Argentine present is banning and criminalizing printing cash with big success.

Governor Alex Otti of Abia State says the reason we are experiencing incessant free fall of the naira was because the Federal Government printed too much money in circulation.

Otti stated this during an interview on Channels Television’s Politics Today on Thursday.

He said, “I believe that the major problem we have is financial discipline. We are dealing with an economy where we printed so much money, at the last count, we will be nearing N30 trillion.

“So what happens with ways and means is that the quantum of goods that you have available in an economy does not increase with the quantity of money that you print.”

The governor said the nation must move from consumption to production for the economy to recover.

He said a situation where Nigeria imports virtually every product piles much pressure on the foreign market.

Otti said, “The issue of production versus consumption if the economy must recover, we must move to production.

“That does not necessarily mean we will reduce consumption. What it means is that we will be consuming what we produce, to the extent that we are importing virtually everything. You keep piling pressure on the foreign exchange market,” he added

Pennywise2:
see just invest in another online business that is already profitable. I'm not talking about crypto as that's for. Speculation which you do not want to do.

Businesses that are either services, freelance works, selling products or ebook or software.

There are places they sell these such as flippa.

Second option is to build a similar thing from scratch. This means paying others to build it. This might cost you a million or two. In all you do , do not speculate with your money. Only buy or build a business

Carry the money buy any fast-moving goods in Nigeria at company's price and sell after three months. You will make millions. No loss, just get a parking space.

Finish.

It should be 95%.
Nigerian Police is not your friend. Lie lie.

OfficialAPCNig:
Peter Obi is right.

Increasing interest rates to fight inflation is useless if more than 80% of your money supply is outside the banking system.

It's common sense.

You don't need to be an Economist to know this. What the CBN is doing will only hurt investment and productivity.

I pointed out where he is right and elaborated on where I see his submission as not broad enough.

As I said before. Nigeria is running a 60 to 75% cashless economy notwithstanding the money in circulation controlled by the banks and individuals. Almost 75% of the heavy transactions pass through the banking system and as such CBN still has oversight over money flow.

mrvitalis:
All that you wrote is only possible if the CBN influences a substantial amount of the money in circulation

As Peter Obi pointed out only 12% of the money in circulation passes through banks 88% is in the informal sector

Whatever you do on that 12% has little or no impact on the general money in circulation

All these loan apps in Nigeria that are giving out loans indiscriminately, do they give you cash? Easy borrowing from all channels contributes to high inflation.

Ogiame:
Be there Looking for where Obi is right and wrong while Tinubu and his son travel to Qatar on taxpayers' money.

Read my submission again. It has nothing to do with the President, APC or any party. CBN is an independent agency of government responsible for monetary policies and we including you, Peter Obi and all Nigerians are at liberty to dissert the policy as people in the academic and the field and make submissions.

Nlfpmod
Mynd44

Can we have divergent opinions on this subject even from professional and layman's points of view?

Can we digest the content of Obi's criticism and submissions and leave his political differences? Nigeria needs all working suggestions.

The criticism provided by Peter Obi raises valid concerns about the potential negative impacts of the government's decision to increase interest rates in Nigeria. While the points made by Peter Obi about the possible consequences of job losses, credit availability for the real sector, and the overall economy are worth considering, there are a few aspects that can be further explored or countered:

1. **Transmission Mechanism of Monetary Policy**:
- Peter Obi focuses on the potential negative impacts of tightening monetary policy on the real sector. However, it's essential to acknowledge that the Central Bank of Nigeria (CBN) adjusts interest rates to control inflation, stabilize the currency, and foster economic growth. By raising interest rates, the CBN aims to reduce inflationary pressures and maintain price stability. While higher rates may make borrowing more expensive, they can also help in curbing inflation and attracting foreign investments, which are crucial for long-term economic stability.

2. **Inflation Control and Economic Stability**:
- Inflation in Nigeria has been a persistent challenge, and by increasing interest rates, the CBN is signalling its commitment to tackling this issue. High inflation erodes purchasing power, distorts resource allocation, and reduces economic efficiency. By implementing appropriate monetary policy measures, the CBN aims to create a stable economic environment conducive to sustainable growth.

3. **Addressing Root Causes of Inflation**:
- While Peter Obi points out that addressing insecurity and boosting production is vital for reducing inflation and enhancing economic growth, it's crucial to recognize that multiple factors contribute to inflation. Insecurity is undoubtedly a significant concern, but monetary policy, including interest rate adjustments, is a tool that can complement broader efforts to address structural issues in the economy.

4. **Balancing Short-Term Pain with Long-Term Gain**:
- While a hike in interest rates may have short-term adverse effects on businesses and borrowers, it is essential to consider the long-term benefits of price stability and sustainable economic growth. A well-implemented monetary policy can help create an environment that fosters investment, enhances productivity, and attracts both domestic and foreign capital.

In conclusion, while the critique by Peter Obi raises valid concerns about the potential impacts of the interest rate hike by CBN, it is crucial to view monetary policy decisions within the broader context of economic stability and long-term growth. Instead of dismissing traditional economic theories outright, a nuanced approach that considers both short-term challenges and long-term benefits can lead to more effective policy recommendations and outcomes.

- Submission by Madam Excellency

Can we digest the content of Obi's criticism and submissions and leave his political differences? Nigeria needs all working suggestions.

The criticism provided by Peter Obi raises valid concerns about the potential negative impacts of the government's decision to increase interest rates in Nigeria. While the points made by Peter Obi about the possible consequences of job losses, credit availability for the real sector, and the overall economy are worth considering, there are a few aspects that can be further explored or countered:

1. **Transmission Mechanism of Monetary Policy**:
- Peter Obi focuses on the potential negative impacts of tightening monetary policy on the real sector. However, it's essential to acknowledge that the Central Bank of Nigeria (CBN) adjusts interest rates to control inflation, stabilize the currency, and foster economic growth. By raising interest rates, the CBN aims to reduce inflationary pressures and maintain price stability. While higher rates may make borrowing more expensive, they can also help in curbing inflation and attracting foreign investments, which are crucial for long-term economic stability.

2. **Inflation Control and Economic Stability**:
- Inflation in Nigeria has been a persistent challenge, and by increasing interest rates, the CBN is signalling its commitment to tackling this issue. High inflation erodes purchasing power, distorts resource allocation, and reduces economic efficiency. By implementing appropriate monetary policy measures, the CBN aims to create a stable economic environment conducive to sustainable growth.

3. **Addressing Root Causes of Inflation**:
- While Peter Obi points out that addressing insecurity and boosting production is vital for reducing inflation and enhancing economic growth, it's crucial to recognize that multiple factors contribute to inflation. Insecurity is undoubtedly a significant concern, but monetary policy, including interest rate adjustments, is a tool that can complement broader efforts to address structural issues in the economy.

4. **Balancing Short-Term Pain with Long-Term Gain**:
- While a hike in interest rates may have short-term adverse effects on businesses and borrowers, it is essential to consider the long-term benefits of price stability and sustainable economic growth. A well-implemented monetary policy can help create an environment that fosters investment, enhances productivity, and attracts both domestic and foreign capital.

In conclusion, while the critique by Peter Obi raises valid concerns about the potential impacts of the interest rate hike by CBN, it is crucial to view monetary policy decisions within the broader context of economic stability and long-term growth. Instead of dismissing traditional economic theories outright, a nuanced approach that considers both short-term challenges and long-term benefits can lead to more effective policy recommendations and outcomes.

Toothpaste and now Lipton.

Tochi3:

.
......The only people that have problems with this truth and facts are the supporters of corruption whose tribalistic allies defend one corrupt certificates crook who uses Bouillon vans as Escort and also appoints corrupt incompetent crooks as ministers. They are ripping the National cake daily.....

I do call names o. Stay in your lane.....

Apc pyramid of rice

Nigeria's Minister for Aviation painted Ethiopian Airline and scammed 230 million Nigerians in a launching ceremony televised to the whole world and EFCC didn't go after him.

PETER Obi is right. If the government can prosecute politicians, the public, and civil servants who scammed Nigeria, there is no need to prosecute Yahoo guys. Law of reciprocal.

TheFacelessMan:


Africans were told that their gods were inferior to Middle Eastern gods.

Worse, Africans now say they worship the gods better than their slave masters.

Muslims & Christians are both guilty.

If I become President today, first thing I will cancel is state sponsored pilgrimage. If you can't afford to go to Mecca / Jerusalem with personal funds or philanthropic donations...you're not going with Government money.

2ndly, those who refuse to pay taxes but gullibly pay tithes... I would come for them next. Churches would be heavily taxed.

More worship centers than industries is one of the reasons we are where we are. Same people who sit in front rows, shouting to God are the worst embezzlers and criminals. So what's the point ?

Will you keep quiet. What have you achieved than those professing Christians and Muslims? Rabble Rouser.

Christians build hospitals and schools here and there but you keep making noise and offering nothing to humanity.