₦airaland Forum

Gsgg

Oga, if one naira cannot buy toilet paper then naira is not worth toilet paper...

Sir, can we start using toilet papers as generally acceptable currency in this country?

InvertedHammer:
/
Believe it or not, all hope is not lost for naira.

But it will never get to pre-Tinubu level again.

The USA side of US$ support is almost over. The Fed Chairman Jerome Powell signalled halt on rate increases since inflation is gradually decreasing. Expectedly US$ has started and will continue to soften baring any fundamental event like major war. Nigeria needs to get her house in order to tap into this US shift in monetary policy. If Nigeria can't in this period, then it is really over for naira.

/

I don't understand this. What's has this got to do with appreciating the Naira?

they should remember no crypto exchange to blame anymore.

I try to imagine what they will blame the next failure on?

Wayo-rists dem dem.

Doyin2:
Insanity is when you keep on doing the same thing but expect different result.

A productive, inflationary economy is far better than a non-productive,non-inflationary economy.Whereas Nigeria’s economy has remained non-productive,inflationary ,what a double tragedy!

Highly insane CBN keeps on destroying the economy by increasing interest rates to “fight” inflation,yet inflation keeps on growing.

Whereas a productive economy requires very low interest rates such that the productive sector could get access to cheap funds for MASSIVE production of goods and services,which price would thus be competitive both locally and internationally.

When goods and services are massive in supply over the demands,prices would automatically crash on the long run.

Keeping interest rate outrageously above the global average,is the highest level of financial stupidity.

There is no short cut to the strengthening of the Naira.

Only a very productive economy can guarantee a sustainably strong Naira!

And customs aren't helping matters at all

Doyin2:
Insanity is when you keep on doing the same thing but expect different result.

A productive, inflationary economy is far better than a non-productive,non-inflationary economy.Whereas Nigeria’s economy has remained non-productive,inflationary ,what a double tragedy!

Highly insane CBN keeps on destroying the economy by increasing interest rates to “fight” inflation,yet inflation keeps on growing.

Whereas a productive economy requires very low interest rates such that the productive sector could get access to cheap funds for MASSIVE production of goods and services,which price would thus be competitive both locally and internationally.

When goods and services are massive in supply over the demands,prices would automatically crash on the long run.

Keeping interest rate outrageously above the global average,is the highest level of financial stupidity.

There is no short cut to the strengthening of the Naira.

Only a very productive economy can guarantee a sustainably strong Naira!

I disagree with you. Inflation needs to be slain. It steals from the most vulnerable and it destroys both consumer and business confidence.

When Germany fully lifted all price controls in 1948, it also chose to be hawkish regarding inflation.

Theres a loss of confidence in the Naira. Even neighboring African economies won't touch it because of its volatility. Fx inflows from Foreign Portfolio Investors are declining and outflows rising.

The MPR should be set at 33%. That would send a strong message that the CBN is now fully ready to kill inflation.

If

Tinubu, instead of tackling internal challenges to up the Naira value, decided to blame and evict strangers for a leaking roof... I pity us

I am talking about this govt's actions against d BDCs and crypto exchanges

My Yoruba ppl come and support ur pathetic Yoruba govt

Beautifulday:
You know wetin be 10k? Just kill the country. The greatest achievement of Tinubu will be the return the economy where he met it. But, he can't do it.

Like his predecessor, it keeps getting worse.

We have seen the north rule. We witnessed their abysmal display of economic murder. The Southwest seem to be even worse. Though, we can't make conclusions until Tinubu is done. I hope Southeast won't be something of the book.

we were always calling buhari government worse in history until this drug addicts took over. I think we should even apologize to bubu

Nwaokunkpara:
What excuse Will be use in 2027 for the reelection of this total failure 🤔🤔🤔

Lol, balablu doesn't need any excuse. His 2027 second tenure is a done deal. Whether you vote or not, or who you vote doesn't matter. You can always go to court.

Kennitrust:
we were always calling buhari government worse in history until this drug addicts took over. I think we should even apologize to bubu

You don't know who go come in future. Make we hold our apologies first

grandstar:
I disagree with you. Inflation needs to be slain. It steals from the most vulnerable and it destroys both consumer and business confidence.

When Germany fully lifted all price controls in 1948, it also chose to be hawkish regarding inflation.

Theres a loss of confidence in the Naira. Even neighboring African economies won't touch it because of its volatility. Fx inflows from Foreign Portfolio Investors are declining and outflows rising.

The MPR should be set at 33%. That would send a strong message that the CBN is now fully ready to kill inflation.

If

Only a quack would fear inflation over productivity and also apply economic theories without considering the local conditions and circumstances.

German and Nigerian economies ,are they the same?

Real experts know that inflation is not a bad phenomenon in a productive economy because it would be temporary and stabilises when supply overshadows demand.


Whereas Nigeria’s inflation is not caused by money supply but highly caused by cost of production,including cost of capital,which is interest rate.

I just wonder how you can develop an economy by only fighting inflation and ignoring the critical need for cheap funds.

If your interest rate is within global average or slightly above ,that would be okay for any foreign inflow and despite high interest rates ,where are the inflows?

Whereas the FDIs we need now are those for profit and not interest. Nigeria needs real investment in industries and production, not volatile short term portfolio investments that keep on destabilizing the Naira up and down.

Very soon if you are not earning in dollar, pounds or euro you won’t be able to buy a car or either build or buy a house. Nigeria workers that are struggling to afford a Toyota Corolla and a house on loan will no longer have access to loans because who is willing to give a car on loan to a worker must be ready to accept loan repayment for as long as his life expectancy

I dunno anywhere where someone spends gazillions to get into power and there's an expectation of things being normal. How?

If the pastor of your church pays 50m to be elected to the post, do you think thaf church will be normal?

PresidObi:
He has a Chicago certificate,

A failure will remain a failure.

We warned all of you.

But your Agulu fraud will have got Nigeria drowned in weeks, if the dullard was in there. OBIFOOLS just like their gbajue candidate know nothing about economy matters but will shamelessly want to have idea on issue like a someone that bedwets

tuoyoojo:
To those support this government

I have one question

Kindly help me point out one single thing that the administration has done to improve the life of the common man.

Just one thing

hahahaha this question strong but i will give u 2 of his achievements parliative and free wifi in the lagos airport

PresidObi:
He has a Chicago certificate,

A failure will remain a failure.

We warned all of you.

Those who supported Tinubu should hide their head in shame. They were warned but failed to listen.

You can not give what you don't have. Tinubu has not done a honest days job in his life and whilst his age mates were exercising their brain cells and strengthening the networks between their brains cells by studying at school, Tinubu was busy dealing in hard drugs.

Right from Tinubu's non existent Aroloya primary school to his dodgy secondary school details and female ID at Uni etc and his equally dodgy state of origin and parentage plus his 25 year looting of Lagos State Treasury, Tinubu reeked of misfortune even before he won APC's primaries and some of us warned way before he was let onto the ballot but some people still went ahead to vote for him although the final nail in the coffin were the corrupt bribe taking Supreme court judges who rubber stamped the criminal into Aso Rock. I pray they all die a slow and VERY painful death.

abdsamad:
I dunno anywhere where someone spends gazillions to get into power and there's an expectation of things being normal. How?

If the pastor of your church pays 50m to be elected to the post, do you think thaf church will be normal?

^^^


But pastors aren't elected.

grandstar:
With inflation at 31.9%, raising the MPR to 25.75% is a joke too far. This is nothing more than a slap on the wrist on inflation.

^^^
Ok.

We can all agree that positive real interest rates are the goal.

grandstar:
The nation needs a weak Naira so expirts can boom. The president or those in charge don't seem to get that. This isn't an issue in regards to saving. The country desperately needs new sources for foreign exchange as an overdependent on crude oil has left both the budget and fx inflows prostrate.

^^^
A weak currency doesn't guarantee an export boom or fx inflows. It isn't automatic. There are other factors at play.

Yes, we all agree that the country desperately needs foreign investment. But (sustainable) foreign investment doesn't readily flow to difficult, opaque places. Nigeria is far, far behind on the competitiveness scale. Nigeria is seriously lagging behind on the 'ease of doing business' scale/index. These are the areas that need urgent attention but because institutional reform is hard work, this administration has avoided taking on that responsibility.

A thousand and one devaluations of the Naira will not increase exports or foreign investment in a sustainable way unless these systemic issues are addressed.

grandstar:
Had there been no petrol subsidies, and the Naira at 1,500 to a dollar, I believe debt servicing won't consume more than 40% of government revenue. This year's budget was based on $1- 750. That means government revenues would be very high and need for borrowing heavily reduced.This is far better than the estimated 96% of revenue it was projecred to consume last year.

^^^


The subsidy will go. There's no doubt about that. The problem is managing the fallout. BAT did not give this matter the attention it deserved last year and now he is running from pillar to post.

Since this country (for now at least) still relies on PMS imports, a removal of the subsidy will have a direct, immediate inflationary impact. What do you do when that happens? What is the plan to prevent it? Or are you one of those that believe it is inevitable? Will you raise MPR again? (using domestic monetary policy tools to tackle imported cost push inflation?)

grandstar:
Were oil production to increase from 1.1m bpd to 1.8m bpd a day, the country could enjoy a surplus. I feel it would take about 2 full years starting from the start of thus government to achieve the feat.

^^^
If wishes were horses...

If I read you correctly, you are saying that if production were to rise by about 0.7m bpd, in two years this country could enjoy a budget surplus?

By the time this year's supplementary budget is presented to federal lawmakers I guarantee your optimism will disappear.

Doyin2:
Only a quack would fear inflation over productivity and also apply economic theories without considering the local conditions and circumstances.

German and Nigerian economies ,are they the same?

Real experts know that inflation is not a bad phenomenon in a productive economy because it would be temporary and stabilises when supply overshadows demand.


Whereas Nigeria’s inflation is not caused by money supply but highly caused by cost of production, including cost of capital, which is interest rate.

I just wonder how you can develop an economy by only fighting inflation and ignoring the critical need for cheap funds.

If your interest rate is within global average or slightly above ,that would be okay for any foreign inflow and despite high interest rates ,where are the inflows?

Whereas the FDIs we need now are those for profit and not interest. Nigeria needs real investment in industries and production, not volatile short term portfolio investments that keep on destabilizing the Naira up and down.

You just want low interest rates.

Why is the CBN governor chasing after Northerners selling dollars, crypto exchanges and what have you in order to defend the Naira? Because the most effective policy which is to increase interest rates has not been fully applied.

Tinubu like you wants low interest rates but it is not serving the interest of the economy. What you have is no different from Erdoganomics which has left the Turkish suffering high inflation and in trouble.

To say that Nigeria's inflation is not caused by money supply is disingenuous considering the CBN admitted lending the government money through ways and means. When you also consider the fiscal mess that Buhari left behind, there's bound to be excessive borrowing in the short term until the FG's fiscal position improves. This is inflationary

The central bank I am certain wants to increase interest rates to fight inflation but the president is standing in the way. That is the tragedy when a supposedly autonomous central bank needs the blessing of the president to do its job. It was the same interference that wrecked the economy under Buhari when he began influencing the exchange rates.

Interest rates won't remain high forever! Once inflation begins to fall, interest rates too will gradually come down.

Positive interest rates should be the goal.

Cardoso is gradually increasing rates. There's no option https://www.nairaland.com/8100057/cbn-raises-interest-rate-26.25

Ilekokonit:
Those who supported Tinubu should hide their head in shame. They were warned but failed to listen.

You can not give what you don't have. Tinubu has not done a honest days job in his life and whilst his age mates were exercising their brain cells and strengthening the networks between their brains cells by studying at school, Tinubu was busy dealing in hard drugs.

Right from Tinubu's non existent Aroloya primary school to his dodgy secondary school details and female ID at Uni etc and his equally dodgy state of origin and parentage plus his 25 year looting of Lagos State Treasury, Tinubu reeked of misfortune even before he won APC's primaries and some of us warned way before he was let onto the ballot but some people still went ahead to vote for him although the final nail in the coffin were the corrupt bribe taking Supreme court judges who rubber stamped the criminal into Aso Rock. I pray they all die a slow and VERY painful death.

Well said