₦airaland Forum

Creamypie:
Very good. They shall bountifully reap what they willingly sowed. They have stopped blaming Jonathan, cos his government was 2 governments back. Last one and current one na buhari

not nice… no matter what there are innocent people. And remember they are humans like you and i

Show off, must you do something and show it to the world

This question has always troubled many.
Let me explain in a very simple way.

First things first. It is the Reserve Bank of Nigeria know as the country's central bank, that decides how much notes have to be printed. This decision is a part of CBN monetary policy - the policy that determines the amount of money in the economy.

Now, the very pertinent question - since the country is free to print any number of notes it wants, why doesn't it produce billions of Naira and distribute it among people and end all the poverty in one go?

Let us assume there are only 3 people in a country: Obina, Funke and Musa having a wealth of Naira. 300, 200 and 100 respectively. Also, there is just one commodity in the country that all three of them would buy using up all their wealth.
Therefore, total wealth in the country = #600 (300+200+100)
Total commodity in the country: 60 kgs of rice.
Since they use their entire wealth to buy this commodity only, the price of rice would be = #10 per kg (600/60).
At this rate, Obinna can buy 30kg of rice, Funke buys 20kg and Musa buys 10kg of rice.

One day they get hold of a currency-printing machine. They decided to double their money by simply printing more notes.
Now they have Naira 600, 400 and 200 respectively.
Total wealth now = Naira 1200
But total commodity in the country is still 60kgs of rice.
The new price of rice = 1200/60 = #20 per kg
They go to buy the rice. With 600 bucks, Obinna would still be able to buy the same 30kgs only, Funke 20kg and Musa 10kg! Damn! They realised how futile it was to print those notes.
Merely printing of notes doesn't do good to anyone. If the total money supply is increased disproportionately to the increase of goods (and services) in the country, it only leads to devaluation of the currency. Although their wealth doubled, the value of their currency got halved.
Therefore, to really become rich, they need to increase production of goods (and services as well), in addition to the money supply. Had the supply of rice also doubled along with the doubling of their money, the price of rice would have remain unchanged. With their new increased wealth they would have been able to buy double the amount of rice than they could before. That's what would have made them "wealthier" in the real sense.

You may extend the same concept to the entire country. If the CBN prints billions of Naira and doubles everyone's wealth, the cost of everything in the country would double.
This can also be understood from the simple law of demand and supply. If everybody has got more money out of nowhere, the demand of every goods and service would also increase almost commensurately (since everybody becomes rich, everybody now wants to own a Mercedes, fly in a business class, buy more fruits and chocolates). This would lead to an increase in the price of all the goods and services in the country (inflation).
Therefore to become rich, the country (its people) has to increase its production. That's the reason why countries are crazy about GDP (a measure of production).

They’ve turned our country to phone that they use us to subscribe now anyhow… Bunch of old men

Mtjrhe56:
:

Big time scammers

Looks like an old and dilapidated building undergoing refurbishment.

07087000404
General grains,
Mr35981@gmail.com
Katsina

Mufakirnaqdiun:
But god no go punish Peter obi or Atiku abi?
Nawa o.
Una no go allow those wey support this man do so in peace,bitter politics no good oo.

no one in his or her right sense will vote a walking corpse

It’s high time the citizens of Russia stand up against its egotistic president oh…. War is never a solution in this jet age

Go with anyone that gives you enough time n opportunity to invest in other businesses

ariesbull:
IGBO MAN LOVE BENZ SHAAAAA


Why?

hehegehe u be clown i swear, so na the benz u dey look

treesun:
Funtua those days, you can put mat under any tree and sleep off is now devil's territory!

am in funtua presently

Memberclub:
Unfortunately I let people stay with me right from uni, Nysc & now. Help anyone if you can

but u say unfortunately like its a bad thing

IntelChief:
Somebody should correct me if I am wrong.

In the US, they have forest guards whose duties it is to patrol the entire forest observing what is happening there. They usually have their homes inside the forests; with sophisticated gadgets and weapons.

Do you mean to tell me that all these while since 1960, our forests had been left un-monitored?

WE ARE ALL MAD IN THIS COUNTRY.

very very mad my brother. Infact we dey craze for this zoo

Bomboiy:
You don know what is going on.

The youths have the highest registration this season.

This old folks can also be convinced by their children,2023 won't be business as usual.

These people have been voting all their lifes,they are not the target. The target are the youths that registered for the first time.

if you think votes in Nigeria still counts then u don miss road

Truth be told this man is too old to rule, fact us as one age so those his thinking faculty. In fact everything about that person deteriorate

In the end, the election would be rigged and given to the highest political thief. Nigerian youths ya' ll need to wake up

Naija no dey submit

Genesis 9:7 go into the world n multiply

Nairalanders y'all are funny as F

YoudeyVexme:
I have tried understanding that scripture since I was a kid, till now I still don't understand.
Does he mean the owo attack that people died in the church, living members shouldn't have buried them. But leave them there for the dead people to come to bury them?

that's why you have google pls.

I do not cry oh,,, n i don't know why

Pray:
When they find him, we will know what went wrong. He may have been kidnapped or anything could have happened to him. Make dem see am first.

victims of kidnap don't block people from social media na

Jato bridge and Morocco

And all the children carry 2baba features...

44dugg:
good

Scam

This guy is high on Arizona, if to bang dey hungry u bang your wife na....self control you don't have nonsense and Desmond idiot

Lundomanyu:
100% sure bet 9ja game available today

Payment after winning

Msg me on WhatsApp

why you dey lie like this

How much is 100kg of sorghum and soyabean now

Area of specialization,:- sorghum, rice, maize millet and soya bean...
Location:- Katsina state
Email:- Mr35981@gmail.com
Phone number:- 08130599725