₦airaland Forum

Someone wants to increase "naira expenditure" but he doesn't want to peg that to dollars inflow.

Buhari did the same thing but from an illegal angle by having the CBN print out an extra 20 trillion naira to finance our expenditure without the required dollar inflow.

But as usual you'll twist this larride.

Meanwhile your oga provided a justification for doing it.

larride:
Nobody is insulting you, you are doing that all by yourself.

I’ve told you several times that you are mixing a lot of things together and it’s the same thing you are doing right now.

I’ve established to you today that there’s a difference between government borrowing and government spending. What Buhari broke is different from what Tinubu is proposing, if you still can’t get it at this point, my bro I can’t help you.


And yes during the pandemic, Tinubu did advise the govt to print more money to inject into the economy to stimulate the economy (You should go and read about Quantitative Easing) it’s the same thing all sane countries over the world did. That’s exactly what the US did with all their covid loans, stimulus checks and including reducing interest rate to almost zero which in turns stimulate the us economy, the side effect which is inflation is what the feds are currently fighting right now by increasing interest rates. In theory when interest rates go up, borrowing becomes expensive and if borrowing becomes expensive, consumer spending will decline and if consumer spending decline, demand will fall which will in turn make the price of every day goods falls also thereby reducing inflation. I believe you get the logic.

I’ve repeatedly told you what Buhari did is different from what Tinubu proposed, you can continue to delude yourself though since it will give you talking points.

Larride I did not ask you for a break down of what the US did..
The US isn't Nigeria.
The effect of what the US did isn't the same effect we would experience because even if the US prints extra money the fact that the world trades in dollars can offset that.

For Nigeria it would lead to inflation as simple as that.


Incase you don't understand what your oga is saying, let me simplify it for you.

He wants to spend money but remove the source needed to spend that money.
Hence why I keep using the buhari reference.
Even if you argue the 2nd part of what he said, the first part should basically be the easiest thing for you to understand.


And again he gave a justification for why he wants to do that.
I even thought you'd try to justify his reasons.

Infact larride you are the only apc supporter I have seen who is arguing this😂.

larride:
Humor me and show where in my Oga manifesto that he said he was going to print money or that he was going to break the limit on government borrowing from the CBN.

Let’s start from there.

God please..
Explain how he plans to delink naira expenditure from dollar inflow?

Explain how what buhari did is so different even though its illegal

The man has even given a justification for this action in his manifesto just like he gave a justification for saying printing of more money coz of a significant situation like COVID-19.

So again.. The floor is yours.

larride:
Only you have moved from government spending to government borrowing to de-dollarization of the economy mixing everything together.

You’ll have enough chances to criticize Tinubu administration when it begins, all this mental gymnastics no really Dey important.

My guy.. It is the same manifesto he said it.

You refused the first part and the same manifesto in the economy section has the same point I brought up.

And also don't tell me to wait first because naso them tell people say wait first for buhari even after everything and na here we dey.

If you can't defend what your oga said then don't bother

larride:
See your problem is that you don’t even understand what you read but you will keep doing strong head.

It’s not a crime not to know something, just shush on the ignorance and keep it moving.

Whether you’ll be there or not is your damn business.

My brother.. If you like insult it's your problem.
Every single thing I've shown you especially this last one has pointed to what I said about him continuing what buhari did from a legal perspective.
You have argued and refused to answer.
Your own is the word should be the same.
Again your guy doesn't want to tie naira expenditure to dollar inflow.

But you won't explain what that means.
It is the same buhari did by breaking the CBN act.
But go on.. Deceive yourself.
Like I said we will be here.
The same manifesto he justified it by saying we are in emergency times😁.


It is the same you that has tried to point out the reason tinubu said we should print more money is because of the COVID-19 period.


So are you arguing against the man and his manifesto abi what?

larride:
At least today you have known the difference between government spending and government borrowing which you have be mixing up as one and the same since last night.

I’ve asked you to show us where Tinubu mentioned he was going to print money in his manifesto but you have gone missing in action.

Since you have tactically agreed that what Buhari is doing and what Tinubu is proposing are two different thing, we are good.

Next please.

My guy you have not said anything.
In that same manifesto your guy wants to remove the link between naira expenditure and dollar inflow.
Lmao make we dey fear God.
It's literally there but you go see am.. Nope

We will be there 😁

larride:
It will come from heaven.

I don’t have time for this kind back and forth Abeg.

Hopefully you have learnt something new today.

You have said nothing.
You nor even lecture me?

The same question is what I'll ask you.

Where will the money come from?
You borrow external debt profile goes up.
You borrow internally debt profile goes up.


So how has what you've said changed anything?

larride:
Bros there’s a different between government spending and government borrowing.

In fact there’s no restriction for government borrowing except you want to borrow from the CBN as the last resort, that’s where there’s a restriction to 5% of your last year revenue. And that’s what Buhari broke.

What Tinubu is proposing is to remove restriction on government spending. During every year budget presentation, there’s also a finance policy that goes along with that budget which most times is always under the short term or medium term expenditure framework. This framework sets a cap on what the government can spend which is usually a % of the GDP or Revenue.

You can read this world bank article that was released last year on why Nigeria needs to remove the restrictions on government spending.

https://www.worldbank.org/en/news/feature/2022/11/21/nigeria-needs-to-spend-more-and-better

Larride where is the money going to come from

izzou:
[color=royalblue]You are mixing up the two.

Borrowing is different from Spending

What Buhari flouted was the Borrowing limit.

What Tinubu said is the Spending limit.

Na two different things[/color]

Lmao.. Izzou it's a very simple thing.

I know what buhari flouted was for borrowing which led to an increase in debt.
Tinubu is talk about removing spending restrictions which will also lead to an increase in debt.

The common factor is money in both cases.


Sho get?

When you allow us over spend because according to Tinubu it is the times we are in and the EU (probably some countries) that will raise our debt profile.

larride:
Lmao.. I pity those that actually spend their time arguing things like this with you.

Goodluck.

Please what commodity are we spending?
When you remove the limits what does it lead to?
Why is there a restriction in the first place?

Buhari borrowed from CBN beyond what was allowed to enable government spend.
You guy said he wants to removal whatever restriction on our spending..

You want to use English to bend away.

I am very open to being educated.
Infact school me so that every person here can learn from my L.

You want to use technical terms to escape the same action that one man plans to do.

So when tinubu removes the FG restriction what will happen?
The naira will just appear from heaven like manner

larride:
Tinubu proposed to remove restriction of government spending.

Please tell us when Buhari removed restriction on government spending.

This is what happens when you just lump everything together so you can have avenue to wail unnecessarily.

Did buhari remove it abi he broke the law by going beyond the required 5% in the CBN act.


I legit said tinubu will make it legal to do what buhari did.

Abi is that difficult for you to understand?
Buhari had the CBN print naira in excess to use.
Tinubu has said he wants to use a more legal means to still do the same thing.

You had better read everything I posted from yesterday if not please be quiet

akwesenana:
Lol. So is it that the dear lovely respected elder brother who lambasted Emefiele for not having a degree in Economics has no little knowledge of Economics whatsoever.

Hence why I didn't bother

850grams milk wey person buy end of march for 4300 is now 6200.

We wey dey complain na we poor😂

Lmao.. You've been here since morning and you nor talk anything remotely reasonable till raumdeuter talk.
Lmaoooo you cannot even be self sufficient as an idiot. Nawa oo

TrebleChamp:
You had to let that sink in 😁..

Very well I did😊

Again
When you are done playing politics like a game, you'll realise the same tinubu has said he will remove FG restriction.

Basically the same thing buhari did that accelerated the fate of this country is what your candidate has said he will make legal because after all, the naira is our own sovereign currency 😂😂.


You dey win you dey complain for real life.
Your friends dey complain.
You families dey complain but you think say na game. 😂😂.


The failed nations we have also had people like you who thought just their winning is enough to cover for everyone.

One side of lekki is for the wealthy another side of lekki is for the poor.. I will not drag how you want to define your reality.

But when shit hits the fan and FG actually tells the citizens the truth maybe we will see how your winning will shield.

I'm currently in the supermarket and the price of things has jumped in one month.
Can I afford it, for sure coz I'm lucky to.
Can everyone afford that jump in price.. Fvck no.



Again you can big yourself up and say what you want to say.. But the vast majority of Nigerians are getting poorer and poorer and if that's not an issue then good for you😁

larride:
At least make una let Tinubu administration begin first.

Nor be wetin tinubu use e mouth talk inside manifesto? Abi is tinubu not someone that supports printing of money?

Another Obidients sponsored post just dropped this morning 😁

https://www.chathamhouse.org/2023/03/nigeria-trust-and-turnout-define-2023-elections?utm_source=twitter.com&utm_medium=organic-social&utm_campaign=nigeria&utm_content=election

izzou:
[color=royalblue]Omoh, enough of the bad news!

Let's have some pictures from Port Harcourt, please.
[/color]

Lmaooooo

Now who is mocking who😂😂😂

monerozi5590:
You ain't serious right now. Don't run away with anything you see. Always have a broader perspective to things.

"You said this was his solution in the wake of an emergency."

In the wake of an emergency that is what other countries do too. UK, a good example.

What Tinubu said is not out of place. You can't use that to diss him. Use another thing.

I refuse to let you drag me down to your level of reasoning.
E nor fit work this morning 👍

BlueRayDick:
Me personally I’m not under any illusion that whoever becomes president after Buhari would wave a magic wand and Nigeria’s financial problems will disappear; in fact I know how hard such person would struggle .

That is the major reason I voted Peter Obi because I believe the first step of Nigeria getting things right is cutting down on the cost of governance . He seem to be the only one amongst the major candidates at the polls interested in doing that. It’s only when we decide to cut down on wasteful spendings we can then say we are ready to chart a new course for this country .

Nigeria has been on a downward slope financially before buhari but the incompetence of the man’s administration made things worse.

Nigeria accrued over 700million dollars in judgement debts due to government officials, ministries , parastatals and government agencies signing contracts on behalf of the government and later reneging on the contracts . This is not peculiar to Buhari’s administration but nothing has changed with the Change chanting administration . It’s quite unfortunate things might still not change going forward .

In 8yrs.. One party has taken us from the gutters to the gates of hell😂😂😂.

The choices were obvious especially when you compare it to the things the country needed going forward.
Nawa sha

monerozi5590:
Leave comparison. What I am telling is what Tinubu said is not out of place.

Lmao.. I say this without any respect for you.
But if you have no intelligent response then avoid a topic or think very very well before responding.


I should leave comparison but you brought in the UK to justify forgetting that we are not remotely close to the UK economically.
You and the Tinubu deserve each other😂

monerozi5590:
During pandemic like the Covid 19, most countries will borrow money from their CBN equivalent.

UK government borrowed money from Bank of England during pandemic.

The British government is dishing out a lot of money to support its economy during the coronavirus pandemic. To be able to spend such extraordinary amounts so quickly, the UK will start getting money directly from the Bank of England.

""Governments usually get their money from taxpayers and by borrowing from investors in the bond market. But officials are having to shovel out cash as fast as possible, to support workers losing their jobs as well as enterprises that are rapidly running out of money. By temporarily getting funding directly from its central bank, which has the power to print as much money as is needed, the UK can avoid overwhelming bond investors through a deluge of borrowing""

Nice nice nice.


So remind me again
How is our economy compared to the economy of UK?
I await your response

Just 60 billion and we nor know say that one go just be drop in ocean 😂

See... E nor go better for these people.

This was since 2021!!!!

Obaseki talk.

See the 3 different set of demons that denied😂😂😂😂

Amoto94:
We all saw how the attempt to regulate monetary supply panned out the economy almost crumbled within the space of weeks sometimes the solutions we are proferring are only good on paper

Lmao please stop.
The reason that thing was bleeped up was because of the execution and the timing of it.
Go back and review it

TrebleChamp:
I didn't see it, APC asslickers will not comment na since it's isn't about posting meme. Larride is more sensible and understand the damage Buhari has done to Nigeria. As for Dayo and the smiling emoji dude, it's is a game or competition to them that they think they are winning....

Lmao.. Person say make we nor make enemies in the name of politics..

For once just think beyond your party.
Just for once na beg people dey beg.
Omo this shit is painful.

Being born a Nigerian is already being 2-0 down against life especially for people not born into money.

Now imagine what it's like😂.

And no


We nor go dey alright Las Las.

Amoto94:
Imagine the outrage if FG due paucity of funds failed to pay salaries for months and asking its staff to go?

What outrage are you talking about that won't still happen.
We are currently crying about current exchange rate and the effects it has.
Again the FG will have to unanimously tell Nigerians the truth and show the workings while also begging Nigerians for mercy.
Because this one they are doing ehn.. One day the engine that is this country will stop and then you'll see crazy

Amoto94:
I'm not talking politics I'm only telling how things will play out. Numbers dont care about politics but you cant separate politics from economy

I cannot separate politics from the economy lmaooo.
I agree but politicians can shield themselves from this eventual bleeped up situation.

Country Don almost die finish but this man never realize the kind drastic action dey needed to sort it all out

BlueRayDick:
When we talk about how financially reckless our leaders are, when we talk about how we pay our legislators humongous salaries for doing nothing , when we talk about governors of extremely poor states buying vehicles over 400k dollars, when we talk about government refusing to cut down overhead expenses on frivolous things….etc. Our resident defenders of government will carry calculators and start telling us those spendings are insignificant in the overall scheme of things and won’t do much to alleviate our financial problems as a country even if the monies are not spent on those things.

A government that has been unfortunate to be faced with dwindling revenue is supposed to be wise enough to know that when u borrow money , U are supposed to be wise with it and not spend it lavishly like u’ve been doing in the past. U are not supposed to be spending like previous governments were spending when there was boom.

For a government that came with the promise of overall change in the way things are being done, APC has not only failed woefully but have used their insensitivity to create more problems for the country . One of such problems is the judgement debts the clueless Attorney General Malami has been unable to find solution to. The PI & D judgement will likely cost us 30% of our $37billion foreign reserve; recently the court also ordered Buhari led government to pay the NNPC guy Araraume N5billion for what ? Cos Buhari either doesn’t get legal advice from Malami or doesn’t listen to him.

Nigeria has wasted billions thus far trying to set up a national carrier ; Nigeria air that only exists on paper and front of fez cap. The minister of aviation has spent 12 billion on 10 fire trucks .Buhari promised to reduce number of planes on the presidential fleet with the intention of cutting cost….. we how that has remained an Herculean task for him.

But it’s okay to borrow . It’s okay to use 96% of ur revenue to service debts. It’s okay to borrow to pay salary of an over bloated civil service ,they have prune down in order to have a true picture of things .

We go dey alright las las.

Guy
We had so many times to get it right post oil boom.
You dey borrow to do projects wey nor dey return any form of investment because you want to win election.
You dey print naira like say you be US lmaoooo.

The thing that scares me the most is the incoming admin is planning to make what buhari did legal and finance even more projects like that😂😂😂.

Nigeria in the last 8yrs personally decided that if doomsday doesn't come to us, we will go to doomsday😂😂😂. And boy did we run to doomsday with rocket launchers in our boots🤭