₦airaland Forum

Sai Baba

samstels:
It is not about ordering ,it will never be implemented by the evil cloned workers in the agric bank .

Had a nasty experience trying to open account with them for my farm project .

Nothing works in this country .He can order ,but how will it be monitored for effective implementation .

Buhari is fighting a lost battle .

Its so dissapointing mydear.

This is a cumbersome of an Hippopotamus Country like Nigeria.no u suld have used triple digit.

post=62871699:
*Qoute*

“If we don’t keep the interest rate as minimum as it should, there is trouble ahead. Manufacturing is not so easy, other countries support agriculture, in every farm in Europe government support it with six euros per day.”


His words, ‘‘for those ready to do business, there are abundant opportunities to create wealth and urged citizens of the state to key into GEEP to improve their businesses. ‘’



Very good development

How far

Somborry was asking of the barbecue guy the other day.

Don't know if he contacted you.

Where do u base?

dontbothermuch:
How far

Morning bro. Got a Barbecue job for us? Cos that is the only kinda 'mention' we reply here. Thanks and stay blessed.

python1:
Abeg, how this treasury bill dey work sef? As in, how can I get into the stuff? I have some cash in the bank but the yeye bank just dey post interest for only one night groove per month.

bank will never tell the truth

Agric loan as always been a single digit nau

Tajbol4splend:
The bank of Agriculture will not take that, remember this is what Islamic bank offered but the tag "Islamic" is the reason why it will not work because Nigeria is a religion sensitive country

That is the challenge though, but for religious intolerance, who (in his/her right senses) prefer a loan with 25% or 10% interest to one with ZERO interest!!!

python1:
Abeg, how this treasury bill dey work sef? As in, how can I get into the stuff? I have some cash in the bank but the yeye bank just dey post interest for only one night groove per month.

There is a thread in the business section on t bills. You can buy from your bank. Your bank may have a minimum amount to invest. Maybe like 1 million. I heard first bank is good.

chloride6:
There is a thread in the business section on t bills. You can buy from your bank. Your bank may have a minimum amount to invest. Maybe like 1 million. I heard first bank is good.

Thank you. But hope maximum no dey sha? Pls, just briefly, what is the average interest derivable?

python1:
Thank you. But hope maximum no dey sha? Pls, just briefly, what is the average interest derivable?

Since you didn't buy when the bills were issued, you won't get the full discount. However expect something like 16% annually rated for the remaining months on the bill.

chloride6:
Since you didn't buy when the bills were issued, you won't get the full discount. However expect something like 16% annually rated for the remaining months on the bill.

Okay. thanks.

Hayah:
That is the challenge though, but for religious intolerance, who (in his/her right senses) prefer a loan with 25% or 10% interest to one with ZERO interest!!!

That's it, Nigerian youths have allowed this crazy backwardness to the extent they will starve for it in as much their religion doesn't look defeated and we can't rule out the damage and divisiveness the religion leaders have caused, everything works hand in hand to cause the whole mess

You're going to create a divergence between the normal interest rate and the agricultural credit rate. People will just get Agricultural credit at single digit interest rate and divert it to other ventures thereby defeating the original purpose. Why not work for a single digit interest rate across sectors. And this too much emphasis on agriculture at the expense of manufacturing and industries is self defeating. Agriculture already accounts for a huge chunk of GDP but just only a minuscule % of export revenue. Until Agriculture becomes export oriented and there are backward and forward linkages between agriculture and other critical sectors particularly industry, we're chasing shadows.

Everything is order order order.

Really

Typical command economics which ruined Venezuela.

Why would Aso Rock think it knows more than credit market participants like banks about the optimal interest rate to charge farmers? Given the persistent and undoutable history of market-intervention failures by the Nigerian government, these things are best left to the private sector to decide.

Sometimes, there are market failures which the government can help remedy. But the high rate of interest rate in Nigeria is a reflection of structural factors: poor infrastructure, low investor confidence manifested in weak currency values, excess money supply, e.t.c. Simply decreeing low interest rate for a sector isn't the solution. I suspect such low interest loans will largely end up in the hands of the politically connected.

This is a great initiative

I am surprised that some people are believing this "cheap talks". With a risky burden of treasury bills at above 15% then you want the FG to get the money and share it at low interest rate... the FG will only shot down.
They should only do e-wallet on inputs and get us access to land ,the one of loan is beyond their reach sincerely.

I don't understand the Meaning of single digit loan

4Play:
Typical command economics which ruined Venezuela.

Why would Aso Rock think it knows more than credit market participants like banks about the optimal interest rate to charge farmers? Given the persistent and undoutable history of market-intervention failures by the Nigerian government, these things are best left to the private sector to decide.

Sometimes, there are market failures which the government can help remedy. But the high rate of interest rate in Nigeria is a reflection of structural factors: poor infrastructure, low investor confidence manifested in weak currency values, excess money supply, e.t.c. Simply decreeing low interest rate for a sector isn't the solution. I suspect such low interest loans will largely end up in the hands of the politically connected.

Actually the primary reason why rates are high is due to the.naira substitution policy.

Every month the FG distributes money earned from oil to the 3 tiers of government. It is paid in Naira.

The substitution of these dollars into Naira increases the money supply compelling the CBN to up rates to mop up the excess liquidity.

Soludo wanted to end the system by paying the various tiers of government with dollar certificates which are redeemable at the CBN.

He was however frustrated by the governors who said they didn't understand the system and cried to Yar'Adua who sided with them.

To add salt to injury, a law was passed ensuring that such a policy will never be implemented!

Soludo had many enemies in the CBN. Many hated the fact he had Obasanjo's ears. Many also were uncomfortable with change or thinking outside the box.

Henry Boyo an economist is forever lamenting about the naira substitution policy.

The senseless policy was compounded by the fool hardy attempt by the FG to spend it's way out of stagflation.