₦airaland Forum

[quote author= post=128692036]Anything to move our Darling country forward is all we want at MANNABBQGRlLLS[/quote]forward to where the satanists want us?

Lifestyle. Number one money gulper.

Check inflation also. N200k today is like N65k four years ago.

nwetadinobi042:
Does it mean an increase in the normal savings account interest rate per annum in our banks?

I doubt so. If it means increased interests, where will banks suddenly get the extra money to pay that interest from?
The banking sector in Nigeria is unique in the sense that it lends to mostly civil servants whose salary can be easily used to recover the loans. They dont believe in SMEs(and thats for good reasons off course), so how will deposits be used to suddenly generate extra profit from which they will pay higher interest?
The civil servants themselves are finding it hard to feed not to talk of repaying loans or taking new ones.

This whole chess-like move they are making is nothing more than a postponement of the d-day if import substitution is not aggressively pursued.

DeLaRue:
It is a double edge sword.

As CBN rate rises, commercial banks will increase savings/fixed deposit rates, thereby attracting more savers who will be locked into 12 months or more term.

This will indirectly reduce the money available for spending and thus reduce patronage of many goods. As traders and manufacturers wait to exploit consumers with predatory prices, less and less people will buy their goods. As their warehouses pile up with unsold goods, they'll have to reduce prices, thus helping to reduce inflation.

Increasing interest rate will also mean the government can issue bonds at rates that will be attractive to foreign investors. More dollars should flow into the country.

The bad news is:

As Cbn increases interest rate, banks too will increase their lending rate with the likely result that:

1. Many businesses that depend on bank loans will lay off staff or even close down

2. There will be fewer new investments- businesses can't survive on 33% - 35% loan rate

3. More pain for the economy generally.

Unfortunately, with the amount of money printed by Mr Buhari's government, the CBN will have to keep increasing interest rate in order to mop up excess liquidity and control inflation.

Managing a large economy in times of crises is a sophisticated game of chess. For every positive steps, there are multiple potential negative consequences. There are usually no easy solutions.

Unfortunately for politicians, the public want solutions NOW! or they dabaru everything and even call for coup

The public is not interested in, nor do they understand economic theories.

The idea of reduced inflation while valid, is overstated here. Inflation of commodities has two main component. Cost of production and profit margin. You cannot force prices below cost of production and when profit becomes too small, everybody naturally has a breaking point.

As for chain of causes and effects. After the excess money in circulation is trapped as deposits, where does the fund to settle depositors for their accrued interest come from?

That now takes the whole mess being shifted across time into realtime financial sector issues. Banks naturally are wired to go after deposits. They will gladly go for excess cash as deposits. The only way this whole thing makes sense is if CBN is the bank depositors keep money with or if the CBN rates will increase the acrued interest to depositors.

Seun:
Reduction in inflation.

The idea of reduced inflation while valid, is overstated. Inflation of commodities has two main component. Cost of production and profit margin. You cannot force prices below cost of production and when profit becomes too small, everybody naturally has a breaking point.

garriAndsugar:
What about the 8.9m people that voted for tinubu? They should follow him

rigged figure. They can not rig SM followers.

In exchange for what and how much?

Don't tell us you did it for pure passionate politics

The Nairaland and Social Media minister.

iwaeda:
Define fuel in ÑNPCL contest, what else is it into: renewable energy?

Gencos.

Content creators

If I talk now our Nairaland resident economists will say profit must be made and nothing should be subsidized.
Barely any food to cook and cooking gas is trying to go up too.

Can there ever be peace?

iwaeda:
I stand by the fuel shortage headline, I will not call you a fool, because you are one already.

Energy is not fuel. Fuel is a form of energy giving substance. Solar energy, fossil fuel energy, wind energy. They are forms of energy and so fuel isn't energy.

Let's see who the fool is.

iwaeda:
Go and confront Punch.

You are acting like a fool here.
I have no personal business with Punch when the person they referenced and quoted has not denied talking about energy scarcity.
You made that shit up in your head and cant take simple correction.

BDC can only be dictated to when you are giving them forex. Remuttances from private individuals is a different ball game.

He is. Partly

iwaeda:
Can't you read, NNPCL said FUEL SHORTAGE. Please when you defend, use your thinking faculty.

Defence?

Take a look at what you brought to Nairaland again before you rant like a squirrel with pepper in anus.

“From all indications, all issues of energy scarcity in the country would be over in the next 10 years,” he stated. .

energy is not fuel.

iwaeda:
Add 10 years to your age, NNPCL doesn't have any plan for refineries. Fuel shortage to end in 10 years, APC will not stop propagandists to deceive you.

fuel shortage is different from energy shortage. Energy can come from solar, wind, fossils, hydrocarbon or motion. What these abokis have succeeded in doing under the eight years of evil Buhari, is go through NNPCL to continue their agenda of using southern resource to develop the north.
Since petroleum is the main source of money theft between north and south, they have silently reinterpreted it allow key MDAs go into projects. CBN can build schools. NNPCL can build roads, pipelines and power plant among others. Even though refinery the logical a southern thing isn't working, they feel okay pumping money we do not have into roads, pipelines and plants.

The Nigerian National Petroleum Company Limited has assured Nigerians that the country’s energy scarcity will be over in the next 10 years.

Can anyone see the rubbish I am seeing?
If not for inter regional politics of resource theft, how did nnpcl core mandate go beyond petroleum into energy?
After delving into pipeline and gas, they are headed for power.

Even the headline isnt in sync with the body of the article. Trump was right to call us a shithole after all.

Kobojunkie:
Na to drag Jesus Christ in the mud una go answer first for. Wetin concern Jesus Christ with birthday shindig, Church politics, and your mourning?

Oga go and die.

Was he suppose to mourn wigwe like a king?

This is why Jesus tells us not to give openly o. See katakata now.

He had good vision and wanted to fast track it by acquiring one of the gencos and discos to achieve that. He was rightly asked to step aside and didn't resist. Today he has achieved that goal. What remains to be seen is he will put smile on the faces of Abians or not.
His vision, to me, tells of someone who had good ideas. He could have succeeded or failed depending on other factors within the power system and politics.

Seun:
This is fantastic and I support them for doing it.

fantastically flawed move. I see your handiwork o. Mr twin brother to BOT.

Kinzo0917:
As for me, I love Tinubu so much. It pains me so much that he is facing this challenges.Challenges and trap put In place for him by Buhari. I really feel for him and expecially his good and beloved wife

But dat does not mean we should shy away from the truth that it is well with Nigeria 🇳🇬

People can't hardly eat. Yesterday, a young guy stood by a bakery begging me to buy him bread. Even girls beg openly beg this days

Guy , nigerians are suffering

Tinubu is no saint and has lots of flaws but pinning everything on him to advance political interest is becoming stale and stiffening discussions here.

A businessman, Mr Adekunle Ajakaye, said he could not explain how the constant increment in prices of goods and services had not run him out of business.

“I am a regular visitor to Cotonou in Benin Republic and what I encounter anytime I return to Nigeria saddens my heart.

“I satisfactorily eat a piece of roasted turkey, which I buy at a cost equivalent to N200 but the same cannot even buy a common piece of fried fish in Nigeria.

“We buy goods with ease in Cotonou but we cannot sell them peacefully here in Nigeria,” Ajakaye said.

Big piece of chicken for N200 equivalent in Benin republic but ten times that in Nigeria.
As a Lagosians experiencing the hard times, calmly go food camping in Benin republic and come back fattened. No need to shout.

There was one I saw on LIB some months ago. I think Kaduna or Plateau.
The guy basically had a gun making factory and broke out through a wall to escape when they raided his house.

The armour in the north ehn.

Kinzo0917:
I am from the south west but I will say u be MU
+
MU
=

I can't say becos I am from e south/west and shy away from d truth. Doing that will incure d anger of God. Is not like President Tinubu is even given me any money 💰that I will shy away from the truth

Everywhere in d country , people are groaning and crying .To eat 1 square meal a day is a problem. House rent has increased. Transportation, is very high and yet , salary remains d same. And you are here supporting Tinubu who don't know you and your family 👪 exist. Are you d only yoruba person?

If you think all I have written is lies and you reply to insult me, may the pains and groanings of Nigerians, come on you, stay with you and overtake you to your grave in whatever God you believe in. AMEN

The loans we are repaying with our usual oil money was incurred by someone and used to build rails to one black arab colony like that. The projects can't generate any funds and so we have to gather our oyel earning to repay. Same way the oil.money of 50 years ago was used to develop regions that still can't pay taxes today. Tinubu inherited a messes up system and it will be unfair to expect silly miracles from him.

BigYash:
They now have two types.. One has half egg ,the other full egg. Its of different prices And no be say e sweet like those days own o..

Even chicken republic has white rice and stew with egg. Na chicken na im lay egg after all.

Onyiridike:
Idiot!
Stop the blind comparison. Show me were you are doing better than other countries of the world in terms of:
Education
Health care
Employment and
Infrastructure

You sit at the comfort of your room and assume that every other countries are facing similar challenges.

The life of a prisoner in US is more valuable than yours.

Deluded little mug!

Nigeria about to expire and pained losers aren't happy. Are you one of those groundnut cracking n munching FG workers?

Namaster:
A good bad idea.

Importing food with scarce dollars would deepen the problem. It'll be more food that Nigerians CANNOT afford.

Instead, the government needs to launch an aggressive and sustained comprehensive attack on bandits and terrorists holding whole farming villages to ransom.

Also, the government needs to approve state police ASAP and have the states set up a special farmland protection squad. Like SARS, but better because they'll only harass trespassing herdsmen and criminal bandits.

Finally, more stringent price control measures need to be introduced. It's MADNESS for the price of goods to jump more than 40-50% in just 7 days.

Calm down

The elites can't shoot themselves in the foot. They made provision for themselves to go out and be educated.