Hmmm

Maths doesnt work for Nigeria Economy

This is what America wants, a President they can push like button "pim pim" and he will do all their bidding, useless America terrorist country.

Increasing interest rates and tax rates due to inflation is basic, but at the moment, the inflation is not caused by excessive liquidity in the system so mopping up liquidity is not a good idea.

More people are not able to fill their car tanks, generators and those are indicators of rising cost of energy, that does not look like a country with supplusity of cash as a driving force on cost of living.

What Nigeria needs is developing and sustaining manufacturing and exporter capacities, massive construction drives and developing our tourism to keep currency flowing through people's hands.

So, BoA is called Bank of America and should focus on America.

Tinubu is an economist. He knows what to do. I think We need more Forex savings. Anyway, we're not at least accumulating more debts since the removal of fuel subsidy.

Meanwhile, I hope all the CBN officials are removed, including the promoted Shonubi guy. They're in affiliation with Emefiele. When corruption is already deep neck in an establishment, it would be difficult for them to stop, best way is to remove all of them and replace them.. Heck, Emefiele knew why he handed over to the Shonubi guy. All of them are in collude.

The problem of Nigeria is corruption at its peak. I hope immunity is removed from all government officials and anyone found looting is jailed!

NinjaMetahuman:
Have they been able to curb their own inflation?

Wonderful question.

Over to you, GTB, First Bank, Zenith Bank and Co.

What do you have to say about The US Economy

This ChatGpt answer is saying two opposing things at the same time: Rate Hike will put more money in people's hands and lead to business growth and rate hikes will make borrowing money more expensive and less people will be willing to spend or invest. It can't be both at the same time. More reason why we should not consume AI hook-line-and-sinker.

exstreve:
I asked ChatGPT to explain Interest rate hike like I'm an 8 year old to some who may not understand, I do cos I trade stocks and crypto, well, here is the answer.

Well, imagine you have a piggy bank where you save your allowance money. Every once in a while, you decide to give yourself a little treat and take out some money from your piggy bank. But what if you notice that your parents start giving you more money as your allowance?

You might think, "Yay! Now I can take out more money from my piggy bank and buy even more treats!" That's kind of what a rate hike is like.

You see, when the government or a bank decides to hike, or increase, interest rates, it means they are giving more money to people. When people have more money, they tend to spend more, just like you would if you got a bigger allowance.

But why would the government or a bank do that? Well, sometimes they want people to spend more money to help businesses grow and for the economy to become stronger. When businesses grow, they can employ more people and create more jobs.

On the other hand, if the government or a bank decides to lower, or decrease, interest rates, it means they are giving people less money. In this case, people might decide to save more money instead of spending it because they aren't getting as much from their allowance. So, it's like having a smaller allowance and not being able to buy as many treats.

Rate hikes can affect many things, like how much it costs to borrow money or get a loan. When rates go up, it might become more expensive for people to borrow money, and they might not want to spend as much or take out loans to buy big things like houses or cars.

So, similar to how your allowance can affect how much you can spend on treats, rate hikes affect how much people can spend and can also influence the overall economy.

America shud focus on their lgbt bullshit and leave us the f alone.

They shud focus on adding more types of humans aside frm trans, bi, cis, cross ....etc

Buddha3:
A hike in interest rates on loans is even going to equate to a swifter surge in the inflation figures.

I cannot be a businessman who takes a loan from the bank, pays over a 20percent interest on servicing that loan and the general public will then expect me to give out my goods or services at moderate or subsidised rates. No way!

I have to make a profit to be able to service my loan, keep my business afloat and equally meet my own needs. So everything eventually trickles down to more hardship for the ordinary masses.

Sometimes these economists and analysts talk like air-headed neophytes. You people should just rub honey on the balls of ordinary Nigerian men and hang us by those balls atop ants infested trees. Because the hardship is eventually going to be felt the most by Nigerian men who are tasked with supporting themselves, their wives and kids and family members.

High interest rate is a two-edged sword.

When CBN increases interest rate, it is a mean to mop up currency in circulation, which will lead to few currencies circulating. Less money will eventually be chasing goods and services, which will eventually reduce inflation.

The European/Western Powers never mean well for Africa. Forget all the charade of Grants, Aids, Loans, Immigration et all.

Know this and a certain peace will invade your soul.

Flets:
Even when everyone knows it’s against the interest of Nigeria, Tinubu will do it….. and this is why

The West has got the President they need to do all their bidding. They've got Tinubu by the balls .... they have all his dossier ranging from the drug activities to fake identitiy, fake education, rigged election etc. The West got their best puppet.

TINUBU HAS NO OPTION THAN DO THE BIDDING OF THE WEST. Otherwise, he loses it all.

All policies implemented by Tinubu are per IMF and world bank recommendations and aimed at further impoverishing the Nigerian people further like they do to all third world countries.

Only Nigerians can save themselves by taking their country back

Excellent. well said, well written. Nigerians are in for it.

American will be smiling to the banks during BAT time.

[b][/b]

iammo:




Americans should focus on thier own banking crisis

High intrest rate, which will make entrepreneur drive prices of goods up

Silicon valley bank, Signature bank , just collapsed with people's deposit they are giving us useless advise

Imagine, I sell bags of rice, and my capital is borrowed from a bank at 28% intrest rate for 1,000,000 now if Banks listens to US and up it to 35% is it not my customers that I will spread the intrest on


.

That is exactly what they do: dabling into other people's interest, covering their own deficiency.
What has the so called BOA done about the inflation in America?

So subsidy has to go because,


1. NNPCLtd could not tell the actual quantity of petro consumed daily by Nigerians
2. Refineries could not work even after so many Turnaround Maintenances
3. Government could not figure out actual quantutites of imported fuel.
4. Government could not bring to book those found wanting of falsifying figures
5. Securities personels could not prevent Tankers from crossing to neighbouring countirs with petroleum products.


I Hail o

Na so

TheBillyonaire:
Increasing interest rates and tax rates due to inflation is basic, but at the moment, the inflation is not caused by excessive liquidity in the system so mopping up liquidity is not a good idea.

More people are not able to fill their car tanks, generators and those are indicators of rising cost of energy, that does not look like a country with supplusity of cash as a driving force on cost of living.

What Nigeria needs is developing and sustaining manufacturing and exporter capacities, massive construction drives and developing our tourism to keep currency flowing through people's hands.

So, BoA is called Bank of America and should focus on America.

This is the pov I’ve been searching the thread for. Hiking the interest rate is a useful tool when inflationary pressures are caused by excess liquidity, but Nigeria’s inflation is almost entirely caused by supply side disruptions.

Omo i go get joy o

As long as Nigeria is being led by fantastically corrupt individuals starting from Mr. President, no policy or intervention will work!

I'm just interested in how long they can stretch their propaganda and image laundering!... How subservient and patient will the sufferhead citizens remain before the sufferings become unbearable!

Nigerian citizens are my test subjects!

MT:


High interest rate is a two-edged sword.

When CBN increases interest rate, it is a mean to mop up currency in circulation, which will lead to few currencies circulating. Less money will eventually be chasing goods and services, which will eventually reduce inflation.

Since 1999, please kindly mention one detailed instance the CBN increased interest rate and the measure succeeded in reducing borrowing rate and mopping up excess cash from the public transactional system. Just one instance.

Kalvan:


This is the pov I’ve been searching the thread for. Hiking the interest rate is a useful tool when inflationary pressures are caused by excess liquidity, but Nigeria’s inflation is almost entirely caused by supply side disruptions.

I hope I did not stop your 'search'.

otunbakolawole:
My father came back from England in 1975 after studying there for almost 10 years. He was happy to come back and rushed back home. People of his age then all rushed back because the naira was two to $1. You could buy a new car for an amount you can’t even buy a tyre for today. So, you can see the importance of money. The brain drain was to our side (towards Nigeria). But the moment the money started getting useless — in other words, you have to work 10 times more to get the same thing, because of the fact that your money has been eroded and people say, "am working so hard, and I am only earning peanuts" — the brain drain started.

The point I am trying to make is, the first lesson of governance is the fear of inflation. And what is inflation? Inflation means that you are not managing your money supply very well. An Inflation rate as high as 25 per cent means that in four years, the money they are paying you at that time will not buy you a single loaf of bread because inflation has been taking out 25 per cent each year. An example is pensioners who may be earning static salaries. So, if you’re not getting 25 per cent increase in salaries annually, it means that in four years’ time, the money is nothing.

We need to tackle the inflation menace head on. We can't shy away from it. All these trial and error economics won't save us if we don't fasten our belts and get serious.

Nicely put.

Flets:
Even when everyone knows it’s against the interest of Nigeria, Tinubu will do it….. and this is why

The West has got the President they need to do all their bidding. They've got Tinubu by the balls .... they have all his dossier ranging from the drug activities to fake identitiy, fake education, rigged election etc. The West got their best puppet.

TINUBU HAS NO OPTION THAN DO THE BIDDING OF THE WEST. Otherwise, he loses it all.

All policies implemented by Tinubu are per IMF and world bank recommendations and aimed at further impoverishing the Nigerian people further like they do to all third world countries.

Only Nigerians can save themselves by taking their country back

No be us they call America this and America that to come and save us even writing letter to them on election. Now they are giving suggestions we de vex 😁😁😁. I trust President to do what is best .

Aposteli1:
I'm sure of one thing!!
Better days ahead of Nigeria in Jesus name.

Without getting the fundamental right,your in Jesus name,is powerless.
There is no magic there.

Buddha3:


Since 1999, please kindly mention one detailed instance the CBN increased interest rate and the measure succeeded in reducing borrowing rate and mopping up excess cash from the public transactional system. Just one instance.

Leave these people...! Have you not observed how every one of them has suddenly become a 'pragmatic' and futuristic economist??!

All because of trying to defend their Mandate!

Kalvan:


This is the pov I’ve been searching the thread for. Hiking the interest rate is a useful tool when inflationary pressures are caused by excess liquidity, but Nigeria’s inflation is almost entirely caused by supply side disruptions.

Indeed.

nlfpmod:


https://businesspost.ng/economy/inflation-bank-of-america-urges-nigeria-to-hike-interest-rate-to-25/?amp=1

Russike of Bank of America himself said in the same article that it is LESS LIKELY his suggestion would be implemented to the letter by the Nigerian Central Bank. Period.

Angelfrost:


Leave these people...! Have you not observed how every one of them has suddenly become a 'pragmatic' and futuristic economist??!

All because of trying to defend their Mandate!

It's worrisome how some Nigerian youths are willing to sacrifice intelligence and pragmatic reasoning on the altar of religious and tribal sentiments.

And when youths come up with these sort of short-sighted postulations on internet platforms that are equally shared by Nationals of other countries, it paints the entire young populace of the Nigerian society as being brainless and gullible.

America shouldn't be the one telling countries to curb inflation, imo. They have their dollers scattered across countries and everyday they still print more to finance their wars, dept and over bloated military 🎖️

Nigerian is already hard, interest rate shouldn't be hiked up or else citizens might as well die of lack.

Buddha3:


It's worrisome how some Nigerian youths are willing to sacrifice intelligence and pragmatic reasoning on the altar of religious and tribal sentiments.

And when youths come up with these sort of short-sighted postulations on internet platforms that are equally shared by Nationals of other countries, it paints the entire young populace of the Nigerian society as being brainless and gullible.

Sadly... Most of the young populace of Nigerian society is actually Brainless and Gullible!

iammo:




Americans should focus on thier own banking crisis

High intrest rate, which will make entrepreneur drive prices of goods up

Silicon valley bank, Signature bank , just collapsed with people's deposit they are giving us useless advise

Imagine, I sell bags of rice, and my capital is borrowed from a bank at 28% intrest rate for 1,000,000 now if Banks listens to US and up it to 35% is it not my customers that I will spread the intrest on


.

That's because there are no proper law where there is price ceiling

Gattuzo05:
Abeg who get time make he translates what BOA means.....

Because I can't comprehend what I'm reading as a result of garri intake

sammirano:


That's because there are no proper law where there is price ceiling

You can't have price ceiling in a free market economy