We’re Addressing Recession With Wrong Tools —CBN - Business (3) - Nairaland
Nairaland Forum › Nairaland General › Business › We’re Addressing Recession With Wrong Tools —CBN (19678 Views)
| Re: We’re Addressing Recession With Wrong Tools —CBN by Dee60: 11:17am On Dec 01, 2016 |
What constiutes the N976billion? How much of that is PMS? How much is on Champagne? This is not a good explanation by the CBN. Shows lack of depth? Yes, it is true that we should not be importing oranges and tangarines et, but we ought to deal with those larger drains, like PMS! Perhaps, if we succeed in stopping PMS import and also stop Champagne, the Naira will stop haemorrhaging. Let us have some depth. |
| Re: We’re Addressing Recession With Wrong Tools —CBN by alfsalami: 11:30am On Dec 01, 2016 |
who is cbn talking to here ? tomorrow they will even try to wash their hands off forex ! pMB will pay for his sin of not sacking Emefiele immediately , gej boy 1 Like |
| Re: We’re Addressing Recession With Wrong Tools —CBN by yaki84: 11:47am On Dec 01, 2016 |
oduastates:bobo speak like a zombie that u r. Gej looted everything, our brains n even made us to think china or european products n not made in naija. He also crashed d price of oil while leaving n made our naira to be worthless. This is what i want to read from u. 1 Like |
| Re: We’re Addressing Recession With Wrong Tools —CBN by chigoizie7(m): 11:48am On Dec 01, 2016 |
Sibrah:Yes, but u can't tell me that the ban had no effect on that. Fx drove it up, ban drove it higher. Applying the simple principles of demand and supply has an effect on it. When there is scarcity, we apply that law. The higher the demand on scarce products, the higher the price, it is as simple as that. However, I am for how the presure on fx can be reduced, thus using rice as an example, rice is not the only commodity that sucks up our fx, many other commodities does, I just used rice to drive home some points. Perhaps, u didn't read where I agreed with the person I mention on the fx issues? |
| Re: We’re Addressing Recession With Wrong Tools —CBN by Sibrah: 12:06pm On Dec 01, 2016 |
chigoizie7: |
| Re: We’re Addressing Recession With Wrong Tools —CBN by Sibrah: 12:07pm On Dec 01, 2016 |
chigoizie7:wrong |
| Re: We’re Addressing Recession With Wrong Tools —CBN by lanchy: 12:14pm On Dec 01, 2016 |
oduastates:You are right! Nigeria is over- dependent on Oil as a source of income, it has become so bad that nobody wants to do anything else but live off the oil wealth. I read some supernatural idiots on here complaining Buhari was the source of the recession because he was not doing something right!!! Wow such people make me happy I no longer live in Nigeria or depend on anyone from there. Every commodity based economy is suffering and as we do not offer services to alleviate the dip in oil prices we are in recession like the rest of them....including Saudi Arabia, they had to sack a huge part of their foreign work force......and change their calendar to save money as they are also in recession......only thing saving them is that they save their money and their leaders are not pathetic armed robbers like ours who have stolen all the money from the time of high oil sales and taken the money abroad, so foreign economies can benefit from this money....this is the money needed for commerce in Nigeria to alleviate the loss of crude oil sales...but it is abroad and helping their own economy instead. Any Id10t that comes out here to blame any single leader apart from Obasanjo/GEJ is a dullard and will never excel in life and is in fact dragging every other person back to the stone age. The whole world is advancing while some fools throw poop at each other stating stupid Afonja and Flatinose insults, while the whole world advances, continue throwing poop at each other then in a 100 years your children will be singing the same songs of poverty. 1 Like |
| Re: We’re Addressing Recession With Wrong Tools —CBN by swuftz: 1:47pm On Dec 01, 2016 |
if this is what the Director of policy in the CBN can come up wit, then we are in a deep mess in this country. I have not seen anything new in what he just said. The CBN is the greatest problem and cause of our deep recession. This director is one of the wrong people in our economic and financial system and he should be removed along with the CBN governor. the inability of the CBN and it's director to give a decisive monetary policy that would boost investors confidence in our economy s the greatest hindrance to solving t he recession. Physical monetary policy is one of the greatest policy changers that has helped countless economies got out of recession. The CBN dilly dallying with the Naira to dollar exchange and it's inability to stopped the blockage in its monetary system is the reason the economy is in a downward spiral. I have never seen a country where the American dollar is been sold to money changers and on the common street like Nigeria. For the CBN to continue the sale of Forex to mallams and Alhajis under the guise of Bureau De change is not only compounding the downfall of the Naira but making millionaires out of many selfish Mallams and Alhajis. it's a wrong policy by wrong people and wrong policy makers in the CBN 2 Likes |
| Re: We’re Addressing Recession With Wrong Tools —CBN by jaafree: 1:51pm On Dec 01, 2016 |
Whoever said these should be sacked bce he has no use being there, by saying that it means he is useless for not confronting them with such advice in the first place # bunch of incompetent ppl |
| Re: We’re Addressing Recession With Wrong Tools —CBN by InvertedHammer: 3:14pm On Dec 01, 2016 |
/ Total nonsense. Where is electricity, water, access road? How easy is the business registration in Nigeria? How about multiple taxation and levies at the LGA level? The fact is that FGN has not provided an enabling environment for businesses to thrive. The overhead cost of production is too high that it is cheaper to import those items. Most of the businesses in Nigeria are outlet for sales. Even big corporations that come in are sales outlets eg. Shoprite, Porsche, etc and their goals include extracting money from Nigerians to repatriate to their home countries. The more big sales companies come in, the more they drive the locals out of business. No one in government is talking about that because Nigerians are easily impressed by new and conspicuous things. People go into business to make profit not to be patriots. \ 1 Like |
| Re: We’re Addressing Recession With Wrong Tools —CBN by bart10: 3:35pm On Dec 01, 2016 |
This Government is a joke! |
| Re: We’re Addressing Recession With Wrong Tools —CBN by Badguytinz(m): 4:41pm On Dec 01, 2016 |
Funlordjnr:My point is that Nigeria has chosen to clap for herself |
| Re: We’re Addressing Recession With Wrong Tools —CBN by Kingspin(m): 5:40pm On Dec 01, 2016 |
Everything na oil useless country. Other countries are talking about development and best regulation for their economy and country. Here is Nigeria lamenting about oil like we drink it down into our stomachs all because of useless and wasteful thinkers/leaders who can plan and work hard. Empty leaders. |
| Re: We’re Addressing Recession With Wrong Tools —CBN by macherie1: 8:26pm On Dec 01, 2016 |
How can export thrive in an economy that is perpetually in darkness with underfunded institutions of learning. Nigerians are brilliant people but the government does not make the environment condusive for innovation. That is why a lot of Nigerians are recognized for record breaking achievements abroad. Mr.Tule should take his advice to the government. Tell them to invest in development of infrastructures and research.Nigeria also needs a good credit system to advance loans to small and medium scale entrepreneurs.Then we will do our part as citizens to contribute to export. |
| Re: We’re Addressing Recession With Wrong Tools —CBN by oduastates: 9:16pm On Dec 01, 2016 |
HopeAtHand:You are a freaking dolt. I do not owe allegiance to anybody. I supported the removal of Jonathan's criminal government but that does not mean I will tolerate the replacement of one cabal with another. North Korea , a country with a GDP of $50 billion only is far more technologically advanced than Nigeria. We are talking about an hermit kingdom who has been under sanctions for more than a century. Good luck with developing with flyovers and hotels even when you depend on foreigners to do it for you . |
| Re: We’re Addressing Recession With Wrong Tools —CBN by DammyOlu123(m): 1:10am On Dec 02, 2016 |
MaziOmenuko:God will bless you, broda. I am still at a loss for words as to what the dunce is still doing there. Useless policies, the whole bunch. See difference in official and black market exchange rate!!! The man should just be going. |
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