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Nairaland Forum / Nairaland / General / Business / Nigeria’s Inflation Hits 29.9% In January 2024 (6377 Views)
Nigeria Stock Market At Highest Level In 15 Years, Gain 18.9% In The First Half / Otedola surrender Transcorp to Elumelu as Stake In Transcorp Hits 29.5% / Ghana’s Inflation Hits 40.4% In October 2022 (2) (3) (4)
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by gaby(m): 3:31pm On Feb 15 |
It should be way over this figure, in my opinion. 1 Like |
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by Promise47(m): 3:32pm On Feb 15 |
The suffering is too much I don't have money for buy food again I'm suffering seriously BigDawsNet: 1 Like |
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by Brushstrokes20: 3:32pm On Feb 15 |
eBOLA is all out to STEAL, KILL AND DESTROY!💯💯 no more, no less 👌👌 |
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by Megaflex(m): 3:33pm On Feb 15 |
Hungry dey o. Please anyone who can assist please help. I've been going through a lot. 8 0 6 9 7 0 8 9 8 4. Palmpay. God bless u all |
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by nairalanda1(m): 3:39pm On Feb 15 |
Judolisco: Partial. The actual cost of fuel is around N1200 or more. |
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by nairalanda1(m): 3:46pm On Feb 15 |
baqirshuayb: NO. Infact in the event of division there would be massive dollar hoarding in the first few months, because of the general uncertaintiy. People would buy dollars and forex and hold until things settle down. Then none of the new parts of Nigeria has any means to do industrial exports. Nations with strong currency are those who export industrial goods and servicies...not resources. All the new countries will export things like oil and cocoa and cotton...whose prices we do not control, and whose prices are chronically low (speaking of cotton, all cotton producers that are not USA and are African are broke, because the USA cotton production is so high, the international price can never be high enough at all). Either way revenues would be weak for a while. Any new currency they bring out would collapse in the first few weeks vs the dollar. It would be like Nigeria, just times 2. It would take a long time before things stabilze. Maybe the new countries would get lucky and get a leader like Park of South Korea, maybe not. I forgot to mention, IMF would summon any new country coming from Nigeria and divide the debt Nigeria had among them. Want to complain? IMF would just lock you out of the world economy until you cry for mercy, and agree to their demands. Ask the former countries that made up Yugoslavia. IMF did not wait two months before sending invitations to them to come and talk business...you know the business. 2 Likes |
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by PrettyIfy7: 3:47pm On Feb 15 |
Inflation inside generator country. And heat wan finish people. It is well oo 1 Like
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Re: Nigeria’s Inflation Hits 29.9% In January 2024 by tefund(m): 3:52pm On Feb 15 |
900warriorz:Brace up!Na just starting we de ohh! |
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by tefund(m): 3:54pm On Feb 15 |
baqirshuayb:Dem go first fix currency.... |
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by tefund(m): 3:59pm On Feb 15 |
Metrofox:That dude would likely go down in history as them president Africa has ever had...before Nigeria divide,what happened in former USSR is laying playing out here. 1 Like |
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by Grace001: 4:04pm On Feb 15 |
I’m at peace since the day I knew Nigeria is a failed state and has nothing to offer the common man other than suffering, pain and hardship. I don’t waste my time over a spilled milk |
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by nedekid: 4:09pm On Feb 15 |
Just got off the phone with my malam. $1=₦1600. Do Nigerians even understand the implication of this? 1 Like |
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by Promise47(m): 4:11pm On Feb 15 |
Me I'm feeling it we are suffering greatly Judolisco: 1 Like |
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by obailala(m): 4:16pm On Feb 15 |
I lost hope in Nigeria right after the results of the 2023 elections were revealed. If with all the glaring signs, a lot of Nigerians still felt it was okay to vote APC and Tinubu, then to a large extent, Nigerians are the problem, not Tinubu and his gang of bandits. My heartfelt sympathy to those who genuinely fought for and voted OBI but who still have to suffer for the foolishness of others. God will see you guys through! 1 Like |
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by Judolisco(m): 4:17pm On Feb 15 |
Promise47:boss na everybody dey feel am 1 Like |
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by nairalanda1(m): 4:17pm On Feb 15 |
Judolisco: The problem is, we are in severe debt that bringing subsidy to a level where fuel costs N200 would just worsen matters. 1 Like |
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by nairalanda1(m): 4:20pm On Feb 15 |
obailala: I believe we should have voted out apc last year. But Obi would have done something similar. The fact is, excessive borrowing since 2014, thanks to the oil price crash, higher spending on subsidy, and lack of a diversified economy, plus an effective foreign reserve of 4billion dollars means there is nothing much Obi can do, short of taking massive loans to fund things, and IMF Is not going to lend us more money, neither are the chinese or the russians. We are not the masters of our destiny, and we are just this near to IMF taking over. |
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by Promise47(m): 4:22pm On Feb 15 |
Yes Sir you are correct Judolisco: |
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by just2endowed: 4:37pm On Feb 15 |
Blaze14k: it will happen when government devalue the naira to come to present reality. |
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by Showguyz: 4:48pm On Feb 15 |
nairalanda1:Atleast he has an idea of what to do even during interviews that why I voted for him But tinubu didn't say anything reasonable |
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by nairalanda1(m): 4:49pm On Feb 15 |
Showguyz: They are all the same at the end, but at least Obi talked about producing more, that was what made him stand out for me |
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by Showguyz: 4:49pm On Feb 15 |
nairalanda1:If we start paying our debts will it help the naira? Because me na kpai I dey so o |
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by Showguyz: 4:50pm On Feb 15 |
nairalanda1:Even me too dude sounded intelligent |
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by Growing(m): 5:24pm On Feb 15 |
They now want to remove electricity tariff subsidy. The Lord be with us. |
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by Artscollection: 5:30pm On Feb 15 |
Na statistics we go chop!! |
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by Artscollection: 5:32pm On Feb 15 |
Showguyz: But he warned everybody when he said na statistics we go chop |
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by BigDawsNet: 5:37pm On Feb 15 |
Promise47: Eyha... I pray da lord will send a helper... I will advise you to go to any big church around you... they will likely offer you something |
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by Thislifee: 6:06pm On Feb 15 |
ogaontop:Shege banza to agbadorians! |
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by Thislifee: 6:07pm On Feb 15 |
Promise47:Did you voted that pooing president with pampers that only believes he is emilokan? If you did then hunger would kill you! |
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by uba1991: 6:13pm On Feb 15 |
The worst so far. Even during the civil war Nigeria economy has never been this bad. Tinubu is a disaster. |
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by gigfx: 6:20pm On Feb 15 |
Because they want to collect loan from the World bank and IMF they removed subsidy on petrol telling you lies that few people are the ones benefitting from it and some people are happy about it. The loan that will be looted after collecting it, they want to remove on electricity too now. I just they pity Nigerians. With E lo fokan bale, a ma gbe wale. All na for mouth, na suffering continues. |
Re: Nigeria’s Inflation Hits 29.9% In January 2024 by obailala(m): 6:22pm On Feb 15 |
nairalanda1:I'm sorry but OBI is clearly different and would have done a lot of things differently. Let's stop excusing Tinubu's failures by erroneously claiming others would have been equally irresponsible and clueless. For starters, OBI communicates! A good line of communication on your strategies would make a world of difference in the way the people and businesses react to your policies. Before elections, Tinubu wouldn't dare talk to anyone, grant interviews or even attend debates. He never outlined any strategy on how he intended to approach the myriad of problems, and nothing has changed after swearing in. Instead while the country is on fire he disappears to France for God knows what, and yet you think OBI would have been the same? When the pillar of a person's campaign is "it is my turn" and "na statistics we go chop?", it already speaks volumes on the person's cluelessness on how to solve the issues which everyone already knew about. OBI on the other hand clearly communicated and communicated and communicated! Yes OBI also promised to remove subsidies, but he clearly outlined that the removal would be in phases to cushion the impact on the economy (with regards inflation). OBI also outlined that any funds saved from subsidy removal would be channeled directly (no diversions whatsoever) into fixing the refineries to ensure Nigeria stopped importing petrol as quickly as possible; a clear policy outline like this makes a world of difference!! Do you know how many times Tinubu has removed and secretly reinstated subsidies? Policy jumps and cuts like that are very disastrous for business planning; reason why companies keep fleeing Nigeria. And then you said IMF and China wouldn't give us loans! Why would they give loans when they know the people at the helm are irresponsible spenders? When Tinubu first stepped into government, wasn't he granted a loan. What did he use the loan for? - To buy 460 SUVs for NASS members - To finance presidential yacht. - To pay N25000 to 15 million households (all of which never materialised but loan money disappeared) And you wonder why China wouldn't give us more loans? Is it today OBI started evangelizing on the imperativeness of using loans only for clearly productive ventures? Yet you think OBI wouldn't have done anything differently? 1 Like |
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