The major cause of high inflation and poverty is unproductive money expansion ( eg money printing and currency devaluation ).....other issues like fuel prices or even food will always subside after an initial spike to a sustainable level .
The government is not printing money. Stop talking about what you don't understand. What we are facing is cost-push inflation occasioned by low level of productivity as a direct results of terrorists activities in the agricultural sector and also the export of farm produce out of Nigeria without any consideration for the demands for these products back at home. While the government is addressing the issue of insecurity with lots of fervour, they are ignoring those who are exporting government subsidized imported foods as well as locally produced foods to neighbouring and other countries at higher prices at the expense of Nigerians.
To your point Rufai, the politics of Nigeria is its biggest pitfall, it makes nonsense of any economic policy or any theoretical principles of political philosophy. The FAC is the culprit.
Rotus, you need a podcast so that all these conversations can be more robust and people can make meaning of it. Despite a wonderful presentation that should lead to deeper conversations, about Wale Edun’s dreams of low interest rates and our current realities (high inflation), your co anchors didn’t do justice and probably distracted most from the main point. Finance and economics conversations despite their political implications aren’t easy to comprehend for most, people don’t understand the significance of most concepts and that’s why it’s better to have some conversations on a more deliberately curated forum. Those WhatsApp groups need to have podcasts ASAP. The electorate need that intel and depth, so we can understand where we are and push the govt in the right direction. Because everyone is learning really, but iron sharpeneth iron.
Nigeria has no constant supply of electricity, serious corruptions from airport, police, local government, state government, federal government and high crime, lack security, poor infrastructures …..etc. So how can Nigeria attract foreign investors? All levels of government receive their high payment and they quickly exchange their money into dollar to keep in overseas account.
Can you please advise the CBN to stop raising interest rate to fight inflation. The inflation in Nigeria is caused by the energy price increase by the announcement of subsidy is gone statement coupled with the lagging of production agricultural products. We know of the excesses of the ways and means of buhari but there is more to this inflation . The increase in hije of interest rate three times over the past one year should be a lesson to the CBN that the inflation is not just liquidity. The solution is good ng to be fiscal, and increasing the production of agricultural products, making sure the refineries are working, register NNPC on the stock market and eliminating the corruption in NNPC and the government because the the excess liquidity is in the hands of the few politicians
Abati got it wrong there. If you understand Economics well enough, easing monetary rate at this time will only make things worse as far as inflation is concerned. The CBN still needs to hold on for at least three to six months more and lets see what happens from there.
@@rotimikayode1072 Dr. Abatti expressed an opinion. He looked st the bottom line. Not everyone is an economist. The general public wants to see what happens next. Not grammar
Lol, finally Rotus who has been running around clapping for and supporting Tinubu's lack Lustre and non working economic policies, is finally facing reality and admitting the truth, that it has not worked. Rotus is just wasting his time supporting Tinubu's textbook theoretical agbado economic gambles, for as long as we have corrupt politicians who spend more on themselves rather than make sacrifices to boost productivity, we will keep moving in cycles. I have never heard Rotus point out the corruption and insane high cost of governance as part of the problem. Bro Rotus ,you cannot defend this administration and not look stupid. Tell Tinubu's administration the bitter truth. And hope they will listen.
This is the base of the brouha between him and Rufai. Rotus speaks textbook with a lot of faith in govt, Rufai speaks reality which has very little faith in govt when textbook economics is applied.
CBN governor and financial minister also trade minister should bring up a blue print on how to improve productivity in Nigeria, in the east we have abundant man power in production of different type of items, in the north we uave agriculture and west have solid minerals, but we're only focusing on crude from south south, take a look at china, for example and create a page that will enable all Nigerians be able to produce quality goods and services to the world just like china is doing with Alibaba for her citizens, Nigeria wake up and tap into this abundant of talent in this country
Any further increase in the pump price of fuel is likely to ground the economy. If inflation goes higher than it is, it will be most unfortunate. We must show brilliance in managing our economy. Emmanuel Atuchukwu
I understand Dr. Abati batting for the common man. However, we cannot escape the reality that inflation must be curbed and the monetary tool to achieve this is interest rate. The monetary side has also fingered the state governments dollarising their allocations as the other issue that must be dealt with. We must pay attention to the things that cause increase in M3. When we do that, the effective management of interest rates will prove to have been the wise choice. What the common man needs the most is for the Naira he earns to have value and there is no other way than this.
Where is this excess cash in the system causing inflation? Definitely not in the people's hands. Its not even circulating in the system. Corruption is how we got here and textbook approach will not resolve it.
Brilliant line from you “what the common man man needs the most is for Naira to have value and there is no other way than this.” permit to use this line to educate others…!
It seems this apc people always hire clappers to every occasion. Someone is not making sense and people are clapping even before he finish his statement. What relevance is your reforms if cant pull people out of poverty. Who is responsible for high energy cost????????🙊🙊🙊🤷♂🤷♂🤷♂
Why do we clap for public servants when they share their plans in Nigeria? It's not like they have achieved these plans. Perhaps that is why they don't end up doing anything most of the time: they have received prior accolades.
The major cause of high inflation and the resulting poverty is unproductive money expansion ( eg money printing and currency devaluation ).....other issues like fuel prices or even food will always subside after an initial spike to a sustainable level .
The major cause of high inflation and poverty is unproductive money expansion ( eg money printing and currency devaluation ).....other issues like fuel prices or even food will always subside after an initial spike to a sustainable level .
Nigeria does not produce anything for export
The government is not printing money. Stop talking about what you don't understand. What we are facing is cost-push inflation occasioned by low level of productivity as a direct results of terrorists activities in the agricultural sector and also the export of farm produce out of Nigeria without any consideration for the demands for these products back at home.
While the government is addressing the issue of insecurity with lots of fervour, they are ignoring those who are exporting government subsidized imported foods as well as locally produced foods to neighbouring and other countries at higher prices at the expense of Nigerians.
And we should Dangote should help@@sulaak
To your point Rufai, the politics of Nigeria is its biggest pitfall, it makes nonsense of any economic policy or any theoretical principles of political philosophy. The FAC is the culprit.
Your ignorance stinks.
@@JatoImoh yet you have nothing to say really, stinky!
Rotus, you need a podcast so that all these conversations can be more robust and people can make meaning of it. Despite a wonderful presentation that should lead to deeper conversations, about Wale Edun’s dreams of low interest rates and our current realities (high inflation), your co anchors didn’t do justice and probably distracted most from the main point. Finance and economics conversations despite their political implications aren’t easy to comprehend for most, people don’t understand the significance of most concepts and that’s why it’s better to have some conversations on a more deliberately curated forum. Those WhatsApp groups need to have podcasts ASAP. The electorate need that intel and depth, so we can understand where we are and push the govt in the right direction. Because everyone is learning really, but iron sharpeneth iron.
Nigeria has no constant supply of electricity, serious corruptions from airport, police, local government, state government, federal government and high crime, lack security, poor infrastructures …..etc. So how can Nigeria attract foreign investors?
All levels of government receive their high payment and they quickly exchange their money into dollar to keep in overseas account.
Can you please advise the CBN to stop raising interest rate to fight inflation. The inflation in Nigeria is caused by the energy price increase by the announcement of subsidy is gone statement coupled with the lagging of production agricultural products. We know of the excesses of the ways and means of buhari but there is more to this inflation . The increase in hije of interest rate three times over the past one year should be a lesson to the CBN that the inflation is not just liquidity. The solution is good ng to be fiscal, and increasing the production of agricultural products, making sure the refineries are working, register NNPC on the stock market and eliminating the corruption in NNPC and the government because the the excess liquidity is in the hands of the few politicians
No looters allowed in China. No gov will carry public fund to black market to change yuan to dollars.
Dr Abatti my Man God bless you for that statement. "Textbook approach" 😅😅😅
Abati got it wrong there. If you understand Economics well enough, easing monetary rate at this time will only make things worse as far as inflation is concerned. The CBN still needs to hold on for at least three to six months more and lets see what happens from there.
@@rotimikayode1072 Dr. Abatti expressed an opinion.
He looked st the bottom line.
Not everyone is an economist. The general public wants to see what happens next. Not grammar
Well done Dr. Rotus.
I always enjoy your business updates.
Where can we get the Nigerian economic calender?
Lol, finally Rotus who has been running around clapping for and supporting Tinubu's lack Lustre and non working economic policies, is finally facing reality and admitting the truth, that it has not worked. Rotus is just wasting his time supporting Tinubu's textbook theoretical agbado economic gambles, for as long as we have corrupt politicians who spend more on themselves rather than make sacrifices to boost productivity, we will keep moving in cycles. I have never heard Rotus point out the corruption and insane high cost of governance as part of the problem. Bro Rotus ,you cannot defend this administration and not look stupid. Tell Tinubu's administration the bitter truth. And hope they will listen.
This is the base of the brouha between him and Rufai. Rotus speaks textbook with a lot of faith in govt, Rufai speaks reality which has very little faith in govt when textbook economics is applied.
Canada did and it is explainable
CBN governor and financial minister also trade minister should bring up a blue print on how to improve productivity in Nigeria, in the east we have abundant man power in production of different type of items, in the north we uave agriculture and west have solid minerals, but we're only focusing on crude from south south, take a look at china, for example and create a page that will enable all Nigerians be able to produce quality goods and services to the world just like china is doing with Alibaba for her citizens, Nigeria wake up and tap into this abundant of talent in this country
Minister of Finance is always absent. CBN will continue spinning wheels trying to use monetary policy to address our problems.
Any further increase in the pump price of fuel is likely to ground the economy. If inflation goes higher than it is, it will be most unfortunate. We must show brilliance in managing our economy. Emmanuel Atuchukwu
These people have lost control o😢
Rotus finally getting it .. 😂😂
Adupe o
He is no longer a ronu ninja 😂
The federal government is there living a luxury life
I understand Dr. Abati batting for the common man. However, we cannot escape the reality that inflation must be curbed and the monetary tool to achieve this is interest rate. The monetary side has also fingered the state governments dollarising their allocations as the other issue that must be dealt with. We must pay attention to the things that cause increase in M3. When we do that, the effective management of interest rates will prove to have been the wise choice. What the common man needs the most is for the Naira he earns to have value and there is no other way than this.
Where is this excess cash in the system causing inflation? Definitely not in the people's hands. Its not even circulating in the system. Corruption is how we got here and textbook approach will not resolve it.
Brilliant line from you “what the common man man needs the most is for Naira to have value and there is no other way than this.” permit to use this line to educate others…!
Wàláítàlàì this government is confused. The country is drowning 😢
Interesting how Japanese are battling rice scarcity, very strange to believe.
How is year on year analysis showing the same year 2024 ?!! 😂😂😂😂🤡🤡🤡🤡
Was the CBN governor reading from a paper or teleprompter? 😴
It seems this apc people always hire clappers to every occasion. Someone is not making sense and people are clapping even before he finish his statement. What relevance is your reforms if cant pull people out of poverty. Who is responsible for high energy cost????????🙊🙊🙊🤷♂🤷♂🤷♂
Why do we clap for public servants when they share their plans in Nigeria? It's not like they have achieved these plans. Perhaps that is why they don't end up doing anything most of the time: they have received prior accolades.
"WELCOME TO DEATH PLEDGE" HOW'S 🤔 🇳🇬 DOING ON DIGITAL ECONOMY! FOOD PRODUCTIVITY!!" ❤🇬🇧❤
Tinubu add more money to fuel price. Increase d price of dollar.
Nigeria now in greater depression!
Dr Abati always talks like a drunkard who doesn't consider good logic.
The major cause of high inflation and the resulting poverty is unproductive money expansion ( eg money printing and currency devaluation ).....other issues like fuel prices or even food will always subside after an initial spike to a sustainable level .
Printing money means getting money for no work done.
Devaluation means getting true value for the dollar you love so much.