Nigeria has one of the highest lending rates that hover between the high 20's to mid 30's percentile. We are talking loan shark unbridled medieval Jewish usury rates here.

These rates exist because of govt reckless spending and a monetary policy that seeks to continue to devalue the naira owing to low forex reserves brought by same govt recklessness, corruption, and IMF/World bank dictated policies to devalue the naira.

Nigeria's inflation is not tied to easy credit and bank loans flooding the economy rather it is caused by a very unfair interests lending rate and govt recklessness . How many people really do have access to bank loans ?
The number of households indebted to banks should not be about to 1% of the population unlike in the US where everyone is mortgaged to their necks and having medical and student loan debts alongside credit card bills to contend with. Nigeria remains a cash economy with little or no debt driving consumer spending unlike in the US where such hike in interests rates serves to limit lines of credit while mopping up excess liquidity brought about by the US Fed's covid stimulus cheques.

For Obi to state that increasing rates that are already in the loan shark region as a panacea to solving inflation shows he is an idiot with no single comprehension on how economies and monetary policy operate.

I have always maintained that Obi is dangerously half educated and grossly misinformed on global economics and geopolitics and that he only references articles and talking points dished by propaganda outlets like The Economist, World Bank Reports and the ever lying CCP.

The biggest mistake Nigerians will ever make (even worse than the disaster Buhari) is voting this man into office.

Hmm

Isn't this the same thing the government is currently doing to fight inflation?

The reason it's not working is because Buhari and emiefele are still printing naira notes non stop.

darling2222:
Anything obi is doing is for the good of this country,take it or you leave it

CCP low tier BOT or just your regular Zombidient idiot?.

Obi that can not run his home well wants to be Nigeria’s President , he should be taking some lessons against 2031. He’s just deceiving Nigerians

The poster just sound stupid why the insult, We want a president in Obi who won't close airspace & roads when visiting a state, we don't want a known thief in Aso-Rock

OneEyedSnake:


Yes, anything obi is doing is for the good of this country.

So you opened an account today just for obi?

Was it today they employed you into their propaganda team?

See illiterate mah wan do analysis

OneEyedSnake:


CCP low tier BOT or just your regular Zombidient idiot?.

Mstick:
Isn't this the same thing the government is currently doing to fight inflation?

The reason it's not working is because Buhari and emiefele are still printing naira notes non stop.

And devaluing the Naira as they go along.

Increasing interests rates for our beleaguered economy is like pouring fuel into fire.

Its stupid.

The only thing to do is cut govt spending, and mop up excess liquidity from the economy by recalling debt .

You don't print, devalue and at the sans time raise interest rates.

My suggestion is to ensure govt recalls some of the naira in circulation generated from local taxes and levies out of circulation.


This is not time to print more but to burn as much of the debt instruments in the incinerators of the Mint.

Qtrpst4:
So you opened an account today just for obi?

Was it today they employed you into their propaganda team?

See illiterate mah wan do analysis

Maybe if your intolerant mob of osus and your biased mods will stop banning their father and be objective for once in your pathetic online existence I won't need to open a fresh account...


Address the issue or GTFO!

ubest1:
The poster just sound stupid why the insult, We want a president in Obi who won't close airspace & roads when visiting a state, we don't want a known thief in Aso-Rock

We are analysing his latest ignorant rants on fixing the economy with his mumbo jumbo mouth salad.

Stick to the topic or GTFO!

Or you are one of the BOT seun created

OneEyedSnake:


Maybe if your intolerant mob of osus and your biased mods will stop banning their father and be objective for once in your pathetic online existence I won't need to open a fresh account...


Address the issue or GTFO!

You're just ranting.

Currently the only way to fight inflation is to mop up the excess money in the system and the only way to do that is to increase the interest rate to discourage borrowing.

Nobody is talking about devaluing the Naira, all Obi has said is he wants to increase the value of the Naira.


Blame the current APC led government for doing the right thing and the wrong thing at the same time.

You want to counter Obi come with the right information, currently CBN has INCREASED THE INTEREST RATE ON BORROWING TO FIGHT INFLATION.

OneEyedSnake:


And devaluing the Naira as they go along.

Increasing interests rates for our beleaguered economy is like pouring fuel into fire.

Its stupid.

The only thing to do is cut govt spending, and mop up excess liquidity from the economy by recalling debt .

You don't print, devalue and at the sans time raise interest rates.

My suggestion is to ensure govt recalls some of the naira in circulation generated from local taxes and levies out of circulation.


This is not time to print more but to burn as much of the debt instruments in the incinerators of the Mint.

Mstick:
You're just ranting.

Currently the only way to fight inflation is to mop up the excess money in the system and the only way to do that is to increase the interest rate to discourage borrowing.

Nobody is talking about devaluing the Naira, all Obi has said is he wants to increase the value of the Naira.


Blame the current APC led government for doing the right thing and the wrong thing at the same time.

You want to counter Obi come with the right information, currently CBN has INCREASED THE INTEREST RATE ON BORROWING TO FIGHT INFLATION.

Another Zombidient OSU ranting crap.

The biggest debtor is the Federal and State govt.

How can the CBN set high lending rates which contractors working on Govt projects will access without increasing liquidity?

Devaluation of the naira and its uncertain future stability is why loaning in naira attracts high interests rates!.

As long as the FG continues to plunder our forex expect them to devalue the naira . This is what they have to limit access to forex markets which end up seeing to a spike of everything you buy and consume since we are an import based economy.

Increasing interests rates will only make inflation worse.
.

But I don't expect an OSU like you to agree since Obi is now your latest copium over your discarded Biafraism.

First of all you're dumb just accept it.

Try and watch the news and keep up with what's happening in Nigeria then you ask a professional to explain to you.

CBN increased borrowing rate for over 3 months or so.

CBN increased saving rate last month.

CBN is currently printing more than they should there by increasing the cash in the system and devaluing the Naira in the process.

The interest rate in Nigeria has been increased so you see how foolîsh your rant is?

OneEyedSnake:


Another Zombidient OSU ranting crap.

The biggest debtor is the Federal and State govt.

How can the CBN set high lending rates which contractors working on Govt projects will access without increasing liquidity?

Devaluation of the naira and its uncertain future stability is why loaning in naira attracts high interests rates!.

As long as the FG continues to plunder our forex expect them to devalue the naira . This is what they have to limit access to forex markets which end up seeing to a spike of everything you buy and consume since we are an import based economy.

Increasing interests rates will only make inflation worse.
.

But I don't expect an OSU like you to agree since Obi is now your latest copium over your discarded Biafraism.

Obi cannot be the president, he is IPOB.

Obi cannot be the president, he killed Biafra agitators

All from the same mouth.

So someone who killed Biafra agitators is IPOB?

High interests rates do not necessarily curb inflation but are used to stimulate inflation which is dubbed as growth.

The last book balancing is done at the central bank.

If the central bank loans at higher interests , it is expected to mop up more revenue from circulation by forcing businesses who access such loans to increase their prices.

On paper this is described as 'growth' when seen in terms of volume but in actual sense it is inflation..


Anyone telling you inflation and debt are a good thing is an idiot.

For Obi to suggest increasing rates , then know prices will go up as anytime rates are hiked , the naira is systematically devalued since banks will rather hold on to stable currencies than naira that will be further devalued in future.

Obi is an idiot .

Mstick:
First of all you're dumb just accept it.

Try and watch the news and keep up with what's happening in Nigeria then you ask a professional to explain to you.

Stopped reading right there.

Calling someone dumb because they do not subscribe to your daily propaganda indoctrination .

If you need the news or any other person or entity to guide you on what to accept , then you are nothing but a lost sheeple

Zombidient indeed.

darling2222:
Anything obi is doing is for the good of this country,take it or you leave it

by increasing interest rate? Zombiedient well done!

asanausana91:
by increasing interest rate? Zombiedient well done!

Do not attempt to reason with osus

They are a lost cause.


Commonsense is scarce in the yeast.

OneEyedSnake:
Nigeria has one of the highest lending rates that hover between the high 20's to mid 30's percentile. We are talking loan shark unbridled medieval Jewish usury rates here.

These rates exist because of govt reckless spending and a monetary policy that seeks to continue to devalue the naira owing to low forex reserves brought by same govt recklessness, corruption, and IMF/World bank dictated policies to devalue the naira.

Nigeria's inflation is not tied to easy credit and bank loans flooding the economy rather it is caused by a very unfair interests lending rate and govt recklessness . How many people really do have access to bank loans ?
The number of households indebted to banks should not be about to 1% of the population unlike in the US where everyone is mortgaged to their necks and having medical and student loan debts alongside credit card bills to contend with. Nigeria remains a cash economy with little or no debt driving consumer spending unlike in the US where such hike in interests rates serves to limit lines of credit while mopping up excess liquidity brought about by the US Fed's covid stimulus cheques.

For Obi to state that increasing rates that are already in the loan shark region as a panacea to solving inflation shows he is an idiot with no single comprehension on how economies and monetary policy operate.

I have always maintained that Obi is dangerously half educated and grossly misinformed on global economics and geopolitics and that he only references articles and talking points dished by propaganda outlets like The Economist, World Bank Reports and the ever lying CCP.

The biggest mistake Nigerians will ever make (even worse than the disaster Buhari) is voting this man into office.

PO said he will fight inflation through contractionary monetary policy.

Illiterates like you don't know that contractionary monetary policy like increasing interest rates is a standard practice for dealing with inflationary pressure.

Illiterate trying tell a former National Economic Adviser to the President economic stabilization.

Phools everywhere

darling2222:
Anything obi is doing is for the good of this country,take it or you leave it

I admire Obi audacity to question the status quo but increasing interest rate logically or intelligently is not it.

Mstick:
You're just ranting.

Currently the only way to fight inflation is to mop up the excess money in the system and the only way to do that is to increase the interest rate to discourage borrowing.

Nobody is talking about devaluing the Naira, all Obi has said is he wants to increase the value of the Naira.


Blame the current APC led government for doing the right thing and the wrong thing at the same time.

You want to counter Obi come with the right information, currently CBN has INCREASED THE INTEREST RATE ON BORROWING TO FIGHT INFLATION.

I was ashamed when I saw what he wrote.

Every Economist knows that increasing interest rate is a contractionary monetary policy for fighting inflation.

Dude is an ILLITERATE

OneEyedSnake:


Another Zombidient OSU ranting crap.

The biggest debtor is the Federal and State govt.

How can the CBN set high lending rates which contractors working on Govt projects will access without increasing liquidity?

Devaluation of the naira and its uncertain future stability is why loaning in naira attracts high interests rates!.

As long as the FG continues to plunder our forex expect them to devalue the naira . This is what they have to limit access to forex markets which end up seeing to a spike of everything you buy and consume since we are an import based economy.

Increasing interests rates will only make inflation worse.
.

But I don't expect an OSU like you to agree since Obi is now your latest copium over your discarded Biafraism.

You need help

Increasing IR don't worsen inflation. It solves it.

Here lies the problem, maybe if you had watched the news or read articles you will be informed instead of coming online sounding so ignorant and crazy.

Now tell me who's spreading propaganda?

Your hatred for Obi made you disgrace yourself now you're just grappling at straws.

OneEyedSnake:

Stopped reading right there.

Calling someone dumb because they do not subscribe to your daily propaganda indoctrination .

If you need the news or any other person or entity to guide you on what to accept , then you are nothing but a lost sheeple

Zombidient indeed.

My dear, every idiót that doesn't even know basic economics want to talk this days so they can "fact check" Obi.

Its really embarrassing.

IamAtikulate:

I was ashamed when I saw what he wrote.

Every Economist knows that increasing interest rate is a contractionary monetary policy for fighting inflation.

Dude is an ILLITERATE

IamAtikulate:

I was ashamed when I saw what he wrote.

Every Economist knows that increasing interest rate is a contractionary monetary policy for fighting inflation.

Dude is an ILLITERATE

Idiot, this is not the west.

Nigeria is not the US that can print her way out of economic recession.


What is driving rates up in the US is down to the supply chain crisis, low productivity owing to Gen Z refusing to work but rather remain on the dole while still living in their parent's basement .

Nigeria's predicament with high inflation was brought about by reckless borrowing that has seen revenue from crude going to pay for all the wasted funds borrowed and embezzled by the corrupt Buhari govt.

The CBN now had to devalue the naira to limit forex demand while still printing money to fund the Buhari govt that has impoverished Nigeria for the next 40ys.
.
Increasing interests rates is a sure sign that future devaluation is in store. So who in their right minds will use the naira as a store of value when it is clear it is destined to lose more value?

You osus should leave tribal sentiments and see Obi as an ignoramus idiot disaster waiting to happen.

I am not from the north but the Niger Delta and had always admired this man's simplicity until ge started mouthing rubbish .


My candidate is Atiku of the PDP. He may not be perfect but he is light years ahead of both Tinubu and Obi.


So when I criticize Obi, know it is because of his foolishness although you osus are making me anti Igbo by the day with your Zombidient nonsense which is no different from the delusions of the Chanji chanting mob of APC Buharist zombies.

S

OneEyedSnake:

CCP low tier BOT or just your regular Zombidient idiot?.

He is just a regular zombidient ooo.. they are so unreasonable

OneEyedSnake:


CCP low tier BOT or just your regular Zombidient idiot?.

One eyed junkie. Stop doing drugs like your oga at the top.

ubest1:
The poster just sound stupid why the insult, We want a president in Obi who won't close airspace & roads when visiting a state, we don't want a known thief in Aso-Rock

So u will prefer the unknown thief just like the UGM are prefer in the East abi?