It seems that the Nigerian Government had become confused as the economic hardship and poverty in nigeria is growing at an alarming rate.

Tinubu government need to start acting smartly by turning around the economic situation of the Nigeria through the strategy of progressive Economic Manipulation

How This Strategy Work

This is achieved by close door manipulation of the Nigerian economy by the FG government and the central bank working together to create a better economy for Nigeria and attract global investment into the country.

Methods Of Implementation Of this Strategy

Below are what Tinubu should do to turn around the economy if he truly want to see Nigeria working

1)Fix The Exchange Rate Of The Naira To The USD at a Constant Non Fluctuating Rate

The government and CBN suppose to know that floating the currency of an under productive economy like nigeria has terrible consequences because we don't have enough foreign remittances to boast the naira as it's floating hence the free fall of the naira against the dollar.By fixing the naira to the US at a constant rate backed by the dollar reserves of the CBN the naira would Not be affected by market forces and then we can commence the process of building up our manufacturing capacity as a nation.China used this method in the 1980s up till 2005 before they decided to float the yuan.Itss only a mad man that will encourage and support the floating of the naira now that this country haven't created the base for any tangible for of industrialization and manufacturing.

2) Manipulate The Total Tax Revenue Generated By Nigeria

After doing the first step what Tinubu and his team need to do next is to inflate the total tax figures Nigeria generated in official reports.If Nigeria generated 100 billion naira for example it should be inflated to 180 billion naira at official report of the nation this will create more room for extra funds to be infused into the economy without raising eyebrows of people and other countries monitoring the Nigeria economy.

3) Under Report The Total Government Workers In Nigeria At Official Budget Presentation

I didn't say "sack workers" because this is what the Nigerian Government are very good at doing.I simply said under report the total number of government workers during budget presentation while maintaining the actual numbers of workforce in Nigeria.For example if Nigeria has 10 million workers gulping down 99 billion naira as salaries,the government can smartly report the total workforce in Nigeria to be 2 million and thereby freeing up 60 billion naira from the nation official budget for infrastructure and other government funding instead of going to borrow money to fund our budget.

4)CBN Should Secretly Print Money To Cover Up The New Financial Gaps Created By The Strategies Stated Above

The CBN should then behind close doors print money for all the new financial pockets created in the Nigerian budget due to the implementation of the strategies I stated above.This should be down discreetly and with high level of tactfulness to prevent the world bank and other financial bodies to know that Nigeria is printing money which will undermine our currency.The money printed by The CBN shouldnt be recorded with the official naira in circulation, rather it should be used to pay workers and fill the gaps created in the budget.Banks should be encouraged to have undisclosed reserves as it is been done in the USA to avoid money printed by the CBN to be reported with total official money in circulation.

If these Strategies is been done Nigeria economy will turn around just within 6 months and we would not have to borrow to fund anything and the current hardship we are experiencing will disappear.

Nigeria is going to be worse than Venezuela if things continues at this rate

These are the kind of post that should be gracing the front page

PaNnamdi:
It seems that the Nigerian Government had become confused as the economic hardship and poverty in nigeria is growing at an alarming rate.

Tinubu government need to start acting smartly by turning around the economic situation of the Nigeria through the strategy of progressive Economic Manipulation

How This Strategy Work

This is achieved by close door manipulation of the Nigerian economy by the FG government and the central bank working together to create a better economy for Nigeria and attract global investment into the country.

Methods Of Implementation Of this Strategy

Below are what Tinubu should do to turn around the economy if he truly want to see Nigeria working

1)Fix The Exchange Rate Of The Naira To The USD at a Constant Non Fluctuating Rate

The government and CBN suppose to know that floating the currency of an under productive economy like nigeria has terrible consequences because we don't have enough foreign remittances to boast the naira as it's floating hence the free fall of the naira against the dollar.By fixing the naira to the US at a constant rate backed by the dollar reserves of the CBN the naira would Not be affected by market forces and then we can commence the process of building up our manufacturing capacity as a nation.China used this method in the 1980s up till 2005 before they decided to float the yuan.Itss only a mad man that will encourage and support the floating of the naira now that this country haven't created the base for any tangible for of industrialization and manufacturing.

2) Manipulate The Total Tax Revenue Generated By Nigeria

After doing the first step what Tinubu and his team need to do next is to inflate the total tax figures Nigeria generated in official reports.If Nigeria generated 100 billion naira for example it should be inflated to 180 billion naira at official report of the nation this will create more room for extra funds to be infused into the economy without raising eyebrows of people and other countries monitoring the Nigeria economy.

3) Under Report The Total Government Workers In Nigeria At Official Budget Presentation

I didn't say "sack workers" because this is what the Nigerian Government are very good at doing.I simply said under report the total number of government workers during budget presentation while maintaining the actual numbers of workforce in Nigeria.For example if Nigeria has 10 million workers gulping down 99 billion naira as salaries,the government can smartly report the total workforce in Nigeria to be 2 million and thereby freeing up 60 billion naira from the nation official budget for infrastructure and other government funding instead of going to borrow money to fund our budget.

4)CBN Should Secretly Print Money To Cover Up The New Financial Gaps Created By The Strategies Stated Above

The CBN should then behind close doors print money for all the new financial pockets created in the Nigerian budget due to the implementation of the strategies I stated above.This should be down discreetly and with high level of tactfulness to prevent the world bank and other financial bodies to know that Nigeria is printing money which will undermine our currency.The money printed by The CBN shouldnt be recorded with the official naira in circulation, rather it should be used to pay workers and fill the gaps created in the budget.Banks should be encouraged to have undisclosed reserves as it is been done in the USA to avoid money printed by the CBN to be reported with total official money in circulation.

If these Strategies is been done Nigeria economy will turn around just within 6 months and we would not have to borrow to fund anything and the current hardship we are experiencing will disappear.

😡👀👉👎
You didn't mention kill corruption (zero tolerance for corruption)! How do you expect these measures you outlined above to work if you don't kill corruption?

If you are printing money secretly the rest of the world doesn't need to know about it before you start to ruin your own economy.
It is like doing drugs secretly, no one needs to know about it until you start to ruin your health.

ElSudani:
If you are printing money secretly the rest of the world doesn't need to know about it before you start to ruin your own economy.
It is like doing drugs secretly, no one needs to know about it until you start to ruin your health.

You should go back and read the thread very well before rushing to comment.

Even the USA print money other countries do it too but they followed the tips I stated above.

Have u wondered why Denmark a country of just 5 million people makes 85 billion dollars every month from tax.denmark is a developed country but certain things and statistics can be influenced

That's advanced economics

EreluRoz:
These are the kind of post that should be gracing the front page

Yeah!!!!but u know the kind of country we are people value rubbish and self deception over everything

May God help us

VeeVeeMyLuv:

😡👀👉👎
You didn't mention kill corruption (zero tolerance for corruption)! How do you expect these measures you outlined above to work if you don't kill corruption?

Let's not go there how do we expect a criminal minded party not to steal money oga!!!!

If they applied these tips I stated above,naija would be atleast 50% better.

Give Nigerians another country to govern they will do well but give Nigeria to Nigerians to govern you will see the opposite. Who do us?

PaNnamdi:

You should go back and read the thread very well before rushing to comment.

Even the USA print money other countries do it too but they followed the tips I stated above.

Have u wondered why Denmark a country of just 5 million people makes 85 billion dollars every month from tax.denmark is a developed country but certain things and statistics can be influenced

That's advanced economics

You know nothing about economics otherwise you wouldn't have compared the US and Denmark economy with Nigeria.
Denmark makes around 2.5 billion dollars from refined petroleum, the same stuff we spend billions importing despite being one of the leading producers of crude oil.
Denmark export meat products while you are still struggling with killer herdsmen.
Denmark also export electric generating sets and other food products.
Now imagine what a trade between Denmark and Nigeria would look like.
While we need everything from them, the only thing they need from you is crude oil which they can import and resell back to you at exorbitant prices.
At what point do you realize something is not right?

ElSudani:


You know nothing about economics otherwise you wouldn't have compared the US and Denmark economy with Nigeria.
Denmark makes around 2.5 billion dollars from refined petroleum, the same stuff we spend billions importing despite being one of the leading producers of crude oil.
Denmark export meat products while you are still struggling with killer herdsmen.
Denmark also export electric generating sets and other food products.
Now imagine what a trade between Denmark and Nigeria would look like.
While we need everything from them, the only thing they need from you is crude oil which they can import and resell back to you at exorbitant prices.
At what point do you realize something is not right?

I didn't say denmark is under productive or Denmark is managed by dullards and cant get that figures in tax generation.Oga u are the the one confused here.

am talking about ways a smart government can manipulate the economy for the better.if Nigeria had a smart government and economic team our situation would be atleast 50% better than it is now.

Let me ask you
1)do you know why American banks have undisclosed reserves and why do the federal reserves(responsible for financial regulation and printing money in the USA)and FBI not bothering to investigate the funds in these undisclosed reserves of banks?
2)do you know that the actual number of unemployment rate in the USA is higher than what is reported?American government claim unemployment rate of just less than 5% then why are Americans complaining.the government manipulate these figures to make it look like americans applying for the social benefit scheme(a program whereby jobless Americans earn about 2 thousand dollars monthly) are few and the budget can care for them whereas in reality the American government secretly print money to pay all the unemployed people in the USA that applies for the scheme.

3)do you know that there have been reports of USA secretly printing money for its allies although the CIA destroyed these reports and label them as mere allegations?

What you don't know is bigger than you and the more you look the lesser you see,this is where most africans get it wrong.

PaNnamdi:

I didn't say denmark is under productive or Denmark is managed by dullards and cant get that figures in tax generation.Oga u are the the one confused here.

am talking about ways a smart government can manipulate the economy for the better.if Nigeria had a smart government and economic team our situation would be atleast 50% better than it is now.

Let me ask you
1)do you know why American banks have undisclosed reserves and why do the federal reserves(responsible for financial regulation and printing money in the USA)and FBI not bothering to investigate the funds in these undisclosed reserves of banks?
2)do you know that the actual number of unemployment rate in the USA is higher than what is reported?American government claim unemployment rate of just less than 5% then why are Americans complaining.the government manipulate these figures to make it look like americans applying for the social benefit scheme(a program whereby jobless Americans earn about 2 thousand dollars monthly) are few and the budget can care for them whereas in reality the American government secretly print money to pay all the unemployed people in the USA that applies for the scheme.

3)do you know that there have been reports of USA secretly printing money for its allies although the CIA destroyed these reports and label them as mere allegations?

What you don't know is bigger than you and the more you look the lesser you see,this is where most africans get it wrong.

I didn't know I was chatting with a conspiracy theorist. Everything is possible in fantasy land.

Igahbarr:
Give Nigerians another country to govern they will do well but give Nigeria to Nigerians to govern you will see the opposite. Who do us?

Nigerians will run down the country.imagine akpabio been the president of Singapore

ElSudani:


I didn't know I was chatting with a conspiracy theorist. Everything is possible in fantasy land.

Nor be only conspiracy theory na conspiracy exams!!!!

U Africans aren't smart at all but always claim to know it all. am not surprised while the whites dominate you all and continue to down till this day.am giving you facts you are here shouting conspiracy theory.well that's your level of comprehension.


No wonder our politicians wey able to manipulate nigerians.the average nigerian isnt smart at all.

Mr economist,why do america not devalue their currency so that they can export more and make more money?


U see the reason why the whites always look down in us?Africans don't think out of the box

PaNnamdi:

Nor be only conspiracy theory na conspiracy exams!!!!

U Africans aren't smart at all but always claim to know it all. am not surprised while the whites dominate you all and continue to down till this day.am giving you facts you are here shouting conspiracy theory.well that's your level of comprehension.


No wonder our politicians wey able to manipulate nigerians.the average nigerian isnt smart at all.

You cited the example of Denmark, I just laid out why Denmark is outperforming you while you are busy promoting the harebrained idea of printing more money!
You claim to know advanced economics but you didn't know that your currency will soon turn worthless in competition with another currency that is not only scarce but also needed by you.
Anyway, I'm done wasting my time with you. It's not that you can actually sway anyone with your dumb ideas.

ElSudani:


You cited the example of Denmark, I just laid out why Denmark is outperforming you while you are busy promoting the harebrained idea of printing more money!
You claim to know advanced economics but you didn't know that your currency will soon turn worthless in competition with another currency that is not only scarce but also needed by you.
Anyway, I'm done wasting my time with you. It's not that you can actually sway anyone with your dumb ideas.

Just go and rest u can't comprehend this thread it's beyond you.

PaNnamdi:

Just go and rest u can't comprehend this thread it's beyond you.

LMAO can you believe this guy! Only on Nairaland, you don't even know what you are talking about. What is the level of your education by the way?

Wetin be this
I was almost sure there is a punchline but it never came, or maybe i'm not seeing it.
Make OP just tell me say in dey joke

PaNnamdi:

You should go back and read the thread very well before rushing to comment.

Even the USA print money other countries do it too but they followed the tips I stated above.

Have u wondered why Denmark a country of just 5 million people makes 85 billion dollars every month from tax.denmark is a developed country but certain things and statistics can be influenced

That's advanced economics

Ozempic, its also a European country surrounded by big economies....
I love your first point on keeping a fixed rate, i wonder how much would have to be allocated to keep it that way .

PaNnamdi:

I didn't say denmark is under productive or Denmark is managed by dullards and cant get that figures in tax generation.Oga u are the the one confused here.

am talking about ways a smart government can manipulate the economy for the better.if Nigeria had a smart government and economic team our situation would be atleast 50% better than it is now.

Let me ask you
1)do you know why American banks have undisclosed reserves and why do the federal reserves(responsible for financial regulation and printing money in the USA)and FBI not bothering to investigate the funds in these undisclosed reserves of banks?
2)do you know that the actual number of unemployment rate in the USA is higher than what is reported?American government claim unemployment rate of just less than 5% then why are Americans complaining.the government manipulate these figures to make it look like americans applying for the social benefit scheme(a program whereby jobless Americans earn about 2 thousand dollars monthly) are few and the budget can care for them whereas in reality the American government secretly print money to pay all the unemployed people in the USA that applies for the scheme.

3)do you know that there have been reports of USA secretly printing money for its allies although the CIA destroyed these reports and label them as mere allegations?

What you don't know is bigger than you and the more you look the lesser you see,this is where most africans get it wrong.

They print dollars but we print naira, check it. Printing more dollars will never affect their economy but more naira will lead to inflation.

Jerk1:
They print dollars but we print naira, check it. Printing more dollars will never affect their economy but more naira will lead to inflation.

Haba Nigerians!!!well u are a smarter than that guy called Elsudani that was arguing rubbish.

What Nigeria need to do is to inflate our tax revenue e.g we generate 1billion naira we inflate it to 1.6 billion naira and print the remaining 600 million naira but we should be careful not to mix up the printed money with official money in circulation also this won't work if we don't fix this useless naira to a fixed exchange rate to the dollar

That's what I meant

Minsk24:

Ozempic, its also a European country surrounded by big economies....
I love your first point on keeping a fixed rate, i wonder how much would have to be allocated to keep it that way .

Bro you see,evil government in Nigeria want to make it look like Nigerian economy is so complex that's why I created this thread to explain that it is not as it seems.

To fix a naira to the dollar is simple

Take a billion naira and take a billion dollar you have gotten 1 naira to one dollar and vice versa.

Now equate all naira in circulation to just one billion naira e.g

Now if to say we had 10 billion naira in circulation and naira the CBN claim that one billion naira is in circulation then that means if you have 100,000 naira In the bank before you will now have 10,000 naira which is worth 10 thousand dollars and vice versa.

Now imagine Nigerian operating a fixed exchange rate with about 50 billion USD backing our naira that means every month Nigeria can generate about atleast 20 billion naira which is equivalent to 20 billion dollars.

You see we have the population and everything but our leaders are idiots

Tinubu is senseless klepto na,if the plan is not about looting and stealing he is not in

PaNnamdi:

Haba Nigerians!!!well u are a smarter than that guy called Elsudani that was arguing rubbish.

What Nigeria need to do is to inflate our tax revenue e.g we generate 1billion naira we inflate it to 1.6 billion naira and print the remaining 600 million naira but we should be careful not to mix up the printed money with official money in circulation also this won't work if we don't fix this useless naira to a fixed exchange rate to the dollar

That's what I meant

Another harebrained submission. You should ask the Zimbabweans.

PaNnamdi:

Bro you see,evil government in Nigeria want to make it look like Nigerian economy is so complex that's why I created this thread to explain that it is not as it seems.

To fix a naira to the dollar is simple

Take a billion naira and take a billion dollar you have gotten 1 naira to one dollar and vice versa.

Now equate all naira in circulation to just one billion naira e.g

Now if to say we had 10 billion naira in circulation and naira the CBN claim that one billion naira is in circulation then that means if you have 100,000 naira In the bank before you will now have 10,000 naira which is worth 10 thousand dollars and vice versa.

Now imagine Nigerian operating a fixed exchange rate with about 50 billion USD backing our naira that means every month Nigeria can generate about atleast 20 billion naira which is equivalent to 20 billion dollars.

You see we have the population and everything but our leaders are idiots

LMAO 🤣 this is laughable. Where did you learn this? You are not making any sense. In a hypothetical situation where Nigerians doesn't need to buy anything abroad using dollars or paying for services and school fees in dollars, how much do you think one dollar will be worth to a Nigerian?
The answer is nothing, 0 dollars.
Naira is weak against the dollar because there's too much Naira chasing few dollars.
It is simple economics, printing more Naira will only increase the amount of naira chasing the dollar.
Your ideas are voodoo economics.

PaNnamdi:

You should go back and read the thread very well before rushing to comment.

Even the USA print money other countries do it too but they followed the tips I stated above.

Have u wondered why Denmark a country of just 5 million people makes 85 billion dollars every month from tax. denmark is a developed country but certain things and statistics can be influenced

That's advanced economics

That's not true. As at Sept 2023,it was about $37B - why did you more than double it?

BTW this your thread is very just-like-that . I'm sorry, but it has no basis in economics at all.

ElSudani:


Another harebrained submission. You should ask the Zimbabweans.

Oga as I said this thread pass you,me and u are not on the same level intellectually.well make I just answer the Zimbabwe question u asked let's see if u fit use that one take understand

Zimbabwe case was that they printed money beyond the ordinary and the idiot mugbabe after smoking fresh weed even acknowledging that Zimbabwe can print themselves out of recession and poverty and to hell with dollars(power of weed on a power drunk old man.Zimbabwe for e.g with 1 thousand dollars in reserves was printing 100 billion Zimbabwean dollars or wetin be that their nonsense currency as a result Zimbabwe dollar became so useless that it took over one trillion Zimbabwean dollar to equate 1 dollar.

Zimbabwe ruled by the clueless old mad man just as tinubu is handling Nigeria didn't know that for every currency in circulation their have to be a dollar back up for it because the dollar is a global exchange currency and hence Zimbabwe collapsed.

WHY WHAT AM SAYING IS DIFFERENT FROM ZIMBABWE

If Nigeria has 200 billion naira in circulation 10 billion dollars in reserves and the naira is fixed at 20 naira to 1 USD

Now Nigeria generated 50 billion naira from tax and let's say for example we have a tax under generation of 15 billion naira(i.e some Nigerians didn't pay tax worth 15 billion naira).a smart government will report that we had 50+ the 15 billion naira and record a tax generation of 65 billion naira

Now the money is within the CBN reserves and it's balanced on the books hence we officially have a valid 65 billion naira tax revenue instead of the 50 and wasting the other 15 billion naira that some people refused to pay.
By doing this we would have an increased revenue and also nothing will happen to our currency value because it's a fixed exchange rate

Can u now understand

RenaissanceGuy:
That's not true. As at Sept 2023,it was about $37B - why did you more than double it?

BTW this your thread is very just-like-that . I'm sorry, but it has no basis in economics at all.

Oga at 2024 it rose to about 84bn for a certain month like that?

PaNnamdi:

Oga as I said this thread pass you,me and u are not on the same level intellectually.well make I just answer the Zimbabwe question u asked let's see if u fit use that one take understand

Zimbabwe case was that they printed money beyond the ordinary and the idiot mugbabe after smoking fresh weed even acknowledging that Zimbabwe can print themselves out of recession and poverty and to hell with dollars(power of weed on a power drunk old man.Zimbabwe for e.g with 1 thousand dollars in reserves was printing 100 billion Zimbabwean dollars or wetin be that their nonsense currency as a result Zimbabwe dollar became so useless that it took over one trillion Zimbabwean dollar to equate 1 dollar.

Zimbabwe ruled by the clueless old mad man just as tinubu is handling Nigeria didn't know that for every currency in circulation their have to be a dollar back up for it because the dollar is a global exchange currency and hence Zimbabwe collapsed.

WHY WHAT AM SAYING IS DIFFERENT FROM ZIMBABWE

If Nigeria has 200 billion naira in circulation 10 billion dollars in reserves and the naira is fixed at 20 naira to 1 USD

Now Nigeria generated 50 billion naira from tax and let's say for example we have a tax under generation of 15 billion naira(i.e some Nigerians didn't pay tax worth 15 billion naira).a smart government will report that we had 50+ the 15 billion naira and record a tax generation of 65 billion naira

Now the money is within the CBN reserves and it's balanced on the books hence we officially have a valid 65 billion naira tax revenue instead of the 50 and wasting the other 15 billion naira that some people refused to pay.
By doing this we would have an increased revenue and also nothing will happen to our currency value because it's a fixed exchange rate

Can u now understand

Nothing will happen to your exchange rate? Will you be able to print dollars and other currencies you need to buy goods and services as well? How much is naira worth to people who doesn't need it for anything? The answer is nothing.
Let us assume we have a few hundred products we sell to the outside world, that is what will increase demand for the naira and therefore drive up the value.
Your convoluted, voodoo and deception based nonsense will just kill Nigeria completely.

We just de

ElSudani:


Nothing will happen to your exchange rate? Will you be able to print dollars and other currencies you need to buy goods and services as well? How much is naira worth to people who doesn't need it for anything? The answer is nothing.
Let us assume we have a few hundred products we sell to the outside world, that is what will increase demand for the naira and therefore drive up the value.
Your convoluted, voodoo and deception based nonsense will just kill Nigeria completely.

Foolish man
I said exeragration of revenue not blind printing of money.i doubt if you can read anyways

PaNnamdi:

Foolish man
I said exeragration of revenue not blind printing of money.i doubt if you can read anyways

Lol Why are you changing what you wrote for the whole world to read!
Na wah o.
I guess you had a few hours to ponder on your harebrained ideas.