₦airaland Forum

Let us praise God, Nlfpmod. Inflation has really come down after rebasing.

This isn't true as there's no reflection of this drop in the life of an average Nigerian

Dbegining:
I'll say two things;

1. This inflation lacks transparency and can be seen as false data cause till today the NBS has refused to tell us the metrics for it's rebase.

2. Even if you argue that the inflation rate is right, this isn't good news. Literally it's just saying: "the rate at which prices are going up is slowing down" "prices d not rise every two days now, it rises every seve days"

You can confirm on the street that food price has boy been going up lately.

Slowly but surely, we're getting there. Thr economy will be much better in another 2 years.

NBS wuru wuru

Audio dropping

Believe this; you'll believe anything

Paper drop without market reflection

This is poison to those who want “a new Nigeria”
My Obeedihent neighbour is contemplating suicide

He who pays the piper, dictates ....

According to government, inflation dey drop, GDP and GNI dey increase, minimum wage dey increase
BUT hunger no drop

Ikaeniyan0:
The naira is also gaining against the dollar, cost of goods and service are falling.

Nigerians will beg Tinubu to contest in 2027

If we didn’t beg PDP to continue in 2015, then what would make us beg Oshiomhole’s Association of Past Criminals, APC to continue with their corruption and incompetence shege

thisweekng:
The Minister of Finance and Coordinating Minister of the Economy Chief Olawale Edun has said the last time Nigeria’s economy looked stable was about a decade ago.

He made this statement during his maiden press conference as Minister of Finance where he outlined President Bola Tinubu’s vision, agenda and strategy for the economy.

He said, “I think as we all know, we are not where we should be. The economy is barely growing above the rate of population growth.

“But it was not always so, and I think in trying to look at the way forward, if we now have a situation of slow growth, double-digit inflation, weak/depreciating exchange rate, as well as security concerns that are resulting in an economy that is not growing and not taking Nigerians out of poverty.

“If we think back to the last time when the economy was stable- when it was growing, when inflation was low, and the interest rate was affordable, that period was about a decade ago. Growth was about 6% in 2013 and 2014.”
Private sector to drive the economy

https://nairametrics.com/2023/09/01/the-last-time-nigerias-economy-was-stable-was-about-a-decade-ago-wale-edun/

Petrol should never cost more than N70 per litre, says APC

January 19, 2015

The All Progressives Congress (APC) has described as mere tokenism the reduction of petrol price from N97 to N87 per litre, saying the petroleum product ordinarily should sell for N70.

On Sunday, the federal government announced the reduction of petrol price, citing the fall of global crude oil price.

But the APC through Lai Mohammed, its spokesman, on Monday accused the government of making a show out of deceit, saying “a 10.3 per cent slash in the price of petrol was a mere tokenism at a time the price of crude oil has crashed by about 60 per cent”.

It argued that the pump price of a litre of petrol should not be more than 70 Naira, alleging that at N87 per litre, the government was forcing Nigerians to subsidise the massive corruption in the oil sector by N17 for every litre of fuel.

https://www.thecable.ng/petrol-never-cost-n70-per-litre-says-apc/

Buhari’ll reduce petrol to N40/L —David-West

FORMER Minister of Petroleum and Energy, Prof. Tamunoemi David-West, said that Nigerians should expect sharp drop in petrol price from the current N87 to about N40 per litre, saying, “the president-elect, Gen. Mohammed Buhari, will reduce the fuel pump price to N40 per litre.”

https://www.vanguardngr.com/2015/04/buharill-reduce-petrol-to-n40l-david-west/

givedemwotowoto:
The usual suspects will try to claim credit as usual with something that is bad anywhere else in the world.

For the “upteenth” time let us state again that drop in inflation is as a result of reduced purchasing power of people. If people can’t buy products due to increased poverty and harsh economic environment, inflation will drop. This is not a good thing.

If this happened in the US or any developed country, there will be outrage if the government tries to claim credit for it.

You can’t claim credit on a on an economy that is not growing as it should be.

Rebasing has little effect on this. Generally, rebasing is required to reflect changes in buying patterns and the economy. There have been significant changes in the economy since the last rebasing in 2009. For example, food delivery and online business have exploded in the last 7 years. So to accurately capture changes like this, inflation figures & GDP, rebasing must be done. It is standard practice in all economies to do a rebasing every 5 years. The NBS is not cooking up numbers as you falsely claimed.

The important thing is that inflation numbers are trending downwards. One key reason is the stable Naira rate at 1,500 for the last 10 months. Importers now have a more stable exchange rate to work with. Also, fuel prices have come down a bit from 1,000 to 900 per litre. Yes, prices are still higher compared to 2023. Remember back then, fuel was subsidized and arbitrage in the FX Market was rampant. Now prices reflect true market value. Prices may not come down to 2023 levels, but over time, they will continue to reduce.

Stats upon stats...! That's the order of the day with you guys.


Can we have average Nigerians testifying to the stable and improving economy for once in this administration?!!

...Or is that not remotely possible?!!

It will never be well with this peddlers of lies, crop of propagandist ruining the economy.

Ikaeniyan0:
The naira is also gaining against the dollar, cost of goods and service are falling. Nigerians will beg Tinubu to contest in 2027

No sir. They will beg him do one more term after 2031.

Na statistics we go chop? Ehh Apc. U guys are full of yourselves. Still, food prices are still high

U. S inflation rate is about 3%. Our own is 20%. Let you say the massess should not talk.

Okay

It's a welcome development.but not until the poor man on the street starts felling the ease of things. It'll all remain stories

Adblg0610:
While it's understandable that concerns about governance may arise, it's important to focus on the facts.
The recent drop in headline inflation to 20.12% is a positive sign that the economy is gradually stabilizing. This improvement reflects efforts by the current President Bola Ahmed Tinubu administration to implement reforms aimed at restoring macroeconomic balance.
While challenges remain, progress like this shows that there is a path forward—and the government will continue to build on these gains with transparency and accountability.

bigpicture001:
Bro nobody hoards food.. it's mostly illusion... It's not true

Are you for real bro? Man... Hoarding is the business of the day in Nigeria a lot of people hoard in Nigeria not to only create artificial scarcity but to make exorbitant profit. Like a lot of people are into hoarding but this year Tinubu used economy magic to show them shege.

Ikaeniyan0:
The naira is also gaining against the dollar, cost of goods and service are falling. Nigerians will beg Tinubu to contest in 2027

I don see another person wey escape without collecting full treatment. I go call Yaba left make them come pick you

That statistics wey them ask you whether na wetin i go chop na that same statistics them dey use convince you say naija don dey good. Mr oga, people are hungry... no be statistics we go chop!

bigpicture001:
Bro nobody hoards food.. it's mostly illusion... It's not true

They must blame something for their failure, these incompetent people will never accept their failure, failure so glaring yhat even the blind can see

Adblg0610:
While it's understandable that concerns about governance may arise, it's important to focus on the facts.
The recent drop in headline inflation to 20.12% is a positive sign that the economy is gradually stabilizing. This improvement reflects efforts by the current President Bola Ahmed Tinubu administration to implement reforms aimed at restoring macroeconomic balance.
While challenges remain, progress like this shows that there is a path forward—and the government will continue to build on these gains with transparency and accountability.

its obvious you are a BAT supporter,if you want to see real changes in the economy not all this paper changes or propaganda let him sack or reassign wale edun from that seat ,he is clog why the economy is sluggish

Adblg0610:
While it's understandable that concerns about governance may arise, it's important to focus on the facts.
The recent drop in headline inflation to 20.12% is a positive sign that the economy is gradually stabilizing. This improvement reflects efforts by the current President Bola Ahmed Tinubu administration to implement reforms aimed at restoring macroeconomic balance.
While challenges remain, progress like this shows that there is a path forward—and the government will continue to build on these gains with transparency and accountability.

God will judge everything not man don't worry

ogolemati:
you are still a junior staff for agbero union.you don't know what senior staff enjoy.upgrade yourself

Very stale dry gist.

iwaeda:
https://dailytrust.com/just-in-inflation-drops-to-20-12/

Altered figure by the APC
Let the deception continue

I know somebody that have 400 bags of beans priestly,he bought it from the North,hoards it that it will rise but till now ,market as spoil

bigpicture001:
Bro nobody hoards food.. it's mostly illusion... It's not true

Ikaeniyan0:
The naira is also gaining against the dollar, cost of goods and service are falling. Nigerians will beg Tinubu to contest in 2027

You are very correct, he is really trying. Even though I didn't vote for him, he is doing a good job. Let's leave sentiment

surgical:
its obvious you are a BAT supporter,if you want to see real changes in the economy not all this paper changes or propaganda let him sack or reassign wale edun from that seat ,he is clog why the economy is sluggish

And na Wale edun dey release inflation rate?

Dbegining:
I'll say two things;

1. This inflation lacks transparency and can be seen as false data cause till today the NBS has refused to tell us the metrics for it's rebase.

2. Even if you argue that the inflation rate is right, this isn't good news. Literally it's just saying: "the rate at which prices are going up is slowing down" "prices d not rise every two days now, it rises every seve days"

I noticed the drop in inflation through the Garri I purchased today, a paint of I bought last month ₦2200 was sold to me by the same vendor ₦1500

runningriot:
Are you for real bro? Man... Hoarding is the business of the day in Nigeria a lot of people hoard in Nigeria not to only create artificial scarcity but to make exorbitant profit. Like a lot of people are into hoarding but this year Tinubu used economy magic to show them shege.

Things that are causing food price (cassava and corn)reduction for this season harvest is not economic magic bro, it is due to low purchasing power, importation, insecurity, migration from farm settlement (when insecurity meet some people in there farm area, they will have to sell their farm products any amount they see). Mind you this few price reduction is to be detriment of local farmers, because cost of production of farm produce is getting high everytime, but purchasing power is not there to sell it in your desirable percent profit. I am a farmer and I really know what am telling you chief