Tinubu is not economically wise. Don't he know that printing more money will leads to hyper inflation.

This is how he will manage Nigeria economy if he becomes president Godforbid!!
Nigeria will turn to Zimbabwe or Venezuela.

The bullion master is here.US is not Nigeria,is US running a mono-product economy?How many of our manufacturing companies are working?And what is the ratio of American unemployment rate to that of Nigeria?How many Nigerian products are exchanging for dollar?This is not a "bullion-van economy".

4xplore:


Again this comes down to supply and demand. The US understand the scope n international value of their currency so there is a limit to which they can keep printing the $$$ but they have far far more leverage than the naira.

Secondly the US as a country is way more self sufficient (they have an internal economy) whereas the naira we print will still have to be exchanged for the $$$ to bring in the supplies we need from overseas.

Just because a well grounded economy decides to overprint does not mean a weak dying economy should follow suit. Overprinting will do us far more harm than good.

Nice submission, but is the world aware that US artificially print her currency to save her economy?. Can other developed nations print currency artificially too?. Is there any charter that backs this un-level playing ground up? Can we say the US has no moral ground to accuse China as currency manipulator? Is what the US is supposedly doing not worse than manipulating currency? Is this the foundation of the US being referred to as the greatest country on earth and the most prosperous country?

Masking:
Tinubu might be right.
And I'm quite sure different governments would have resorted to printing cash in critical times.

Liquidity injections that's what its called.

I've always wanted to understand the Economics behind this.

Can someone please explain? Pocohantas?

You can do this safely where inflation is almost non-existent, the economy is at the zero lower bound. This is the case with most western economies where prices are relatively stable. Money printing (quantitative easing) by central banks is the purchase of assets like government and corporate bonds by the central banks to increase the money supply into the economy.

You absolutely cannot do this safely in Nigeria where inflation is skyrocketing and the currency is already under pressure as you will generate a Venezuela or Zimbabwe style hyperinflation scenario.

This problem of copying western solutions for Nigeria, witness the widespread lockdowns over coronavirus, will cost us dearly.

He should provide the ones in his bullion van



Dirty Orangutan!

aragonchuks:
Sometimes I wonder who votes this clueless politicians into power that don’t even know Economics , just imagine someone father , grandfather and leader vomiting nonsense without thinking about inflation .. As one Imam said currently “ONLY FOOLS CAN VOTE A BIGGER FOOL INTO POWER “.

This man you just dragged is a seasoned accountant that has worked for firms you could only dream about but suddenly emeka that sells spare parts in onitsha knows more than his three generations.
So pathetic

rusher14:
Why is it that the badly educated are the first to air their opinion on issues beyond their comprehension on this forum?

America has implemented quantitative easing- printing of more dollars to absorb the effect of Coronavirus on their economy.

If the US can do that, and Nigeria itself bases a lot of its commodities on the value of the dollar, why shouldn't we print more Naira representative of the volume printed of the dollar?

Quantitative easing was not introduced to absorb the effect of coronavirus on their economy....If you are just hearing of quantitative easing this year then you should Google and get more information. Have you ask yourself the simple question if it was that easy to just print money as you like why are African countries borrowing money and not just print? Or you think tinubu at 68 is wiser than them all right?

Masking:
Tinubu might be right.
And I'm quite sure different governments would have resorted to printing cash in critical times.

Liquidity injections that's what its called.

I've always wanted to understand the Economics behind this.

Can someone please explain? Pocohantas?

Peeress should be in a better position to explain. He is an ED.

Cc: Peeress, please help us out here.

No, Tinubu can’t be right. A consumer country like Nigeria shouldn’t be going about printing money. There are no goods/services to mop up the cash. We would only end up with hyperinflation.

he must have acquired another bullion van, printing more naira will worsen our inflation, that he was an economist.

Modern Monetary Theory actually canvasses this exact model. So Tinubu may have a point.

Timileyin1234:
This one go worst pass Buhari. I can’t believe I share tribe with this dullard

Expert17 shey u no go do giveaway ni

Waiting for EPL to cancel the season


Hope you are safe??

rusher14:
Why is it that the badly educated are the first to air their opinion on issues beyond their comprehension on this forum?

America has implemented quantitative easing- printing of more dollars to absorb the effect of Coronavirus on their economy.

If the US can do that, and Nigeria itself bases a lot of its commodities on the value of the dollar, why shouldn't we print more Naira representative of the volume printed of the dollar?

It will lead to hyper inflation!!

Don't compare Nigeria with USA. US dollar is used world wide as international transactions and it has more value than naira.

Printing more naira note will render our currency useless.
You want Nigeria to turn to Venezuela or Zimbabwe

Tinubu is not wise economically.

Masking:
Tinubu might be right.
And I'm quite sure different governments would have resorted to printing cash in critical times.

Liquidity injections that's what its called.

I've always wanted to understand the Economics behind this.

Can someone please explain? Pocohantas?

Don't mind them, someone that sells shoes in onitsha suddenly knows more than an accountant that has worked with multinational firms.
I just laugh at all this guys

I'm not an economist. But I have always had this question about value. Value is dependent on not just the product but the environment the product finds itself especially if it is an intangible item. For example, Microsoft sells their software license to businesses in the U.S for a particular price in dollars. If you're trying to buy MS Office or AutoCAD for your organization in Nigeria, they may want to charge you the same amount they charge to U.S companies to a Nigerian companies. To me, this doesnt make sense at all. That is why some companies in Nigeria are using pirated software. Even buying music, movies online or books from amazon. You can't charge an American who earns in dollars the same amount you charge a Nigerian and that can go on to other commodities as well. Well the cost of production is for one for tangible items but for intangible items that can be duplicated infinitely with almost no extra cost to the producer, it is really confusing to me. It will surely breed piracy. Maybe someone with more knowledge than me can explain.

aragonchuks:
Sometimes I wonder who votes this clueless politicians into power that don’t even know Economics , just imagine someone father , grandfather and leader vomiting nonsense without thinking about inflation .. As one Imam said currently “ONLY FOOLS CAN VOTE A BIGGER FOOL INTO POWER “.

Have you ever heard of Modern Monetary Theory?

Mass scale liquidity injections aka printing money can help fast track recovery from a recession. Of course, it has to be done reasonably but you wouldn't know that. I don't like Tinubu but he's got a good point here. Unfortunately, the person in charge of our monetary policy is an advanced bank marketer, zero economic literacy.

Expert17:




Waiting for EPL to cancel the season


Hope you are safe??

When dem no wan corona to kee dia boss

Wasky101:

This man you just dragged is a seasoned accountant that has worked for firms you could only dream about but suddenly emeka that sells spare parts in onitsha suddenly knows more than his three generations.
So pathetic

same applies to you

Billionaire Regina Daniel's husband is yet to donate any sum to this Covid. 19 pandemic Ned na now we need you..,

Dear Asiwaju,

We cannot just print money as a radical alternative to a past of pilfering, poor leadership and refusal to diversify the economic base of the nation. We risk triggering hyper inflation in a country where inflation is already in double digits, loss of savings value and will devalue the currency in such a way that the basic needs of the average Nigerian in an import dependent economy such as ours will be unattainable. Can we say there is an increase in economic activity linked to the money created currently that would not trigger increased inflation? Even the US has looked to fiscal stimulus and quantitative easing to boost its economy rather than arbitrary money printing. Where the average consumer is priced out of essentials to survive what then shall he or she resort to since an effect of inflation is a likely increase in the price of goods to meet up with demand.
On the public financing side, doing this risks lowering the value of the bonds the govt need to finance the every increasing debt we have. If this is the case , no investor is touching our bonds with a 6 foot pole and we will need to pay premium interest rates to even get anyone's attention. Please sir, keep the advice in your agbada and urge Pres Buhari to take the difficult but needed decisions we require to get us moving

See person wey wan rule Nigeria oo

U no see where this man mind dey go.

Some people eh if this corona virus catch them.

They will begin to shout my money money money.

Oil block oil block

That senator that brought his three wives to senate house will be shouting.

Faridah
Amina
Sikrat

aragonchuks:
same applies to you

Same applies to me how, I didn't wish u anything now,
I am only saying u have more economic sense than a former accountant with Deloitte, Arthur Andersen and Mobil. Emekaaaaaa I know say one day u go make us proud

print which notes thought Nigeria printed notes outside the country. that aside you want to print notes with no limit so you and your cronies would carry your bullion vans to central bank for your own share ba even during this hard time where peoples lives are at risk.

AreaFada2:

He also forgot that USA has a vast internal market. With near sufficient local petroleum production. That internal market cushions the dollar nicely.

He will remember that is why USA see China as a big threat. As currency swap of Renmibi with other countries currency or people opting to put foreign reserve partly in Euro too will increasing reduce world reliance on dollars for trade. But that's still at least some decades away.

Naira is not even traded internationally. You cannot buy Naira at Heathrow, JFK, CdG or any other important international Airport.
Inflation will just finish the already battered masses.

US is the largest importer of Chinese goods in fact US has trade deficit of over $380Billion with China successful in the last two years and was far more than this before 2018.

The country is moving towards stagflation but most youth that commented earlier have succeeded in shrinking the evaluation scope of what Tinubu said. That is Nairaland for you.

Please look at the effects of LDR directed by the CBN on the economy then you will understand what Tinubu is hitting at

stanluiz:
Tinubu is not economically wise. Don't he know that printing more money will leads to hyper inflation.

This is how he will manage Nigeria economy if he becomes president Godforbid!!
Nigeria will turn to Zimbabwe or Venezuela.

You are the one who is not wise. Tinubu is suggesting that this is a legitimate option. World class economists happen to agree with him and not you isale Eko experts. Are you talking of inflation when we are discussing a pandemic that could render money worthless and people scavenging in the streets for food if the worst happens?

When all is lost, printing money is an option because it directly puts money, as legal tender , in the hands of people to acquire what they need urgently.

At that stage, protecting the value of money is pointless because if people do not get it to spend then they would simple get into beast mode and take to the streets to violently and forcefully commandeer what they need.

Let us see what will happen if area boys have no food and no money to buy their way out of hunger. We will see what your focus on inflation will be worth then.

rusher14:
Why is it that the badly educated are the first to air their opinion on issues beyond their comprehension on this forum?

America has implemented quantitative easing- printing of more dollars to absorb the effect of Coronavirus on their economy.

If the US can do that, and Nigeria itself bases a lot of its commodities on the value of the dollar, why shouldn't we print more Naira representative of the volume printed of the dollar?

It's funny how people who accuse others of being badly educated are themselves badly educated. Yours is a prime example of the saying that a little bit of knowledge is a dangerous thing.

You have managed to attain some vague familiarity with the policy of quantitative easing (QE) but clearly have no idea of conditions under which it is feasible. QE helps in economies facing low inflation (almost in deflation territory) and negative interest rates. To avoid a deflationary spiral, central banks do QE to keep inflation from going into deflation.

Nigeria and most African/developing countries have a different problem - stagflation. This is where inflation increases as the economy goes into recession so printing more money turns you into Venezuela or Zimbabwe pretty fast.

The question is spend more on what? Who's producing the goods n providing the services in Nigeria at this time All the extra money will end up chasing a limit qty of goods n services thus driving the prices even higher.

Our economy is still largely import dependent so all d printed cash will still b exchanged for the USD in other to bring in supplies.

Printing money may work in the US but it wont work here.

Oshigun:


Bruv, read three pages of this thread and I am still shocked and shaking head at how it is terribly ignorant posters hurling the most vitriolic insults. The lack of humility of Nigerians on show here is amazing and scary because it indicates we have a nation full of hateful and 'lynch mob' ignoramuses rather than solutions providers.

What Tinubu is suggesting is a form of financial easing available to Central banks, as one of the last resorts for situation like this, called "Helicopter money".

Even a minute of research would have cured many of there ignorance. Yet once Tinubu speaks many, especially from the SE, just rush blindly to say the opposite and insult Asiwaju.

Many should put aside hate and objectively read the summarized article below specifically about economic stimulus options that can ease the havoc Covid-19 is capable of wreaking.

It will become immediately clear why Asiwaju, far ahead of his peers, should be President and that it is only hate preventing some from seeeing/accepting this. I pity Nigeria and Nigerians sha.


https://www.google.com/amp/s/www.cnbc.com/amp/2020/03/17/coronavirus-how-much-firepower-central-banks-have.html

eniolaamos7:
I'm not a doomsayer, but I have always imagined that naira will become unacceptable someday as a means of exchange, and if the virus becomes deep rooted in Nigeria, there will be increased crime rate coupled with lawlessness.

It's already happening in n Italy.

Increase in rate and lawlessness

Wasky101:

Don't mind them, someone that sells shoes in onitsha suddenly knows more than an accountant that has worked with multinational firms.
I just laugh at all this guys

If truly he is an Accountant as you posited, but committed this kind of economic blunder, then his certificate is questionable. I am a trained Economist with years of teaching experience at Undergraduate and Postgraduate levels. If my student gives me this kind of advice in Class, I will be worried so to speak. As an Accountant, he ought to have factored in some macroeconomic variables that can trigger inflationary pressures both in the short run and long run, owing to low level of productivity at the moment, resulting in sharp increase in demand over supply, holding other factors constant. The penacea to this economic debacle and Quagmire is to raise productivity of household goods and break the chain of distribution - from producers directly to consumers, in order to avoid hoarding and price hike.

If not that this corona is some how wicked . l like its behavior.

It doesn't discriminate

It doesn't know what is dollars, Pounds, naira,old not new note

It doesn't do man knows man.

It does not take bribe.

It goes to both young and old

The rich and poor.

Same instrument will be used for its victims.

Same symptoms

It renders both the power and the weak powerless.

Same kind of burial for the deads. Both rich and poor


Merciful father forgive our sins

All is no lost yet my brother, printing money is not an option at this time.

Oshigun:


You are the one who is not wise. Tinubu is suggesting that this is a legitimate option. World class economists happen to agree with him and not you isale Eko experts. Are you talking of inflation when we are discussing a pandemic that could render money worthless and people scavenging in the streets for food if the worst happens?

When all is lost, printing money is an option because it directly puts money, as legal tender , in the hands of people to acquire what they need urgently.

At that stage, protecting the value of money is pointless because if people do not get it to spend then they would simple get into beast mode and take to the streets to violently and forcefully commandeer what they need.

Let us see what will happen if area boys have no food and no money to buy their way out of hunger. We will see what your focus on inflation will be worth then.

Wasky101:

Don't mind them, someone that sells shoes in onitsha suddenly knows more than an accountant that has worked with multinational firms.
I just laugh at all this guys

What has being an accountant to do with being knowledgeable about economics? By stating we should be printing more money, he has clearly demonstrated cluelessness about the subject.

If you are going to appeal to credentials, there are plenty of accomplished Nigerian economists whose views you can consult.