grandstar:


This is the standard practice globally. Interest rates until it kills inflation.

It will lead to all the adverse conditions you mentioned but it will be implemented nevertheless.

That is why central banks are independent and government nor businessman can't dictate to them. The central bank will continue to raise interest rates until inflation is slain. Many times it leads to a recession but the central bank won't back down.

Its when the central believes it has contained inflation before it begins to reduce interest rates.

The number one reason for this inflation is weaker currency, why not the government work on strengthening our currency?
The other time they said it's crypto and Binance, to no avail! They said it's BDC's, to no avail, in fact they have exhausted all their excuses!!
How can you strengthen your currency to reduce inflation when you're totally import dependent? Naira becoming weaker day by day, minimal FDI, e.t.c
When continuous increase in interest rate is not yielding the desired results, what do you do? Continue the increase maybe to 100% or find other ways to subdue the inflation?
Interest rate increment is one of the best ways to reduce natural inflation, not Nigeria's corrupt/ bad economic policies induced inflation. Let them look other ways and consolidate everything not only continuous increase of interest rates that will make matters worst! When companies are badly hit, they sack workers, some might go into crime, health challenges will increase, and many other issues which overall decreases the prosperity of the nation.
There's a limit to everything no matter how effective you think it may be!
You discipline a child or your subject to rectify certain errors but there's a limit before you make matters worst!!

wallrichy:
You know that with all these hard stance on Nigeria economics geometry. The commercial banks are still turning out large profits, declaring profits in a dying economy. Production companies are dying every second, inflation is killing the masses rendering the little they have to be valueless, savings ain't yielding profit any longer and interest rate on loan has been jerked up to almost 30%. How do you even expect to payback if eventually you are granted the loan at such a ridiculous rate together with the bribing of Banks Managers etc .to effect your being granted the loan. I am so tired, very very tired. This country is killing people.

Which large profits are commercial banks turning out?

grandstar:


Good. Yes,higher interests will lead to strengthening of the Naira which would naturally lead to a reduction in prices

Strengthening of naira without Nigeria exporting and finished product to earn forex?

Ojuntana:

Indians have kept his company going? That's a joke right

Lol..

You are just being emotional..

Listen carefully..if Dangote had trusted Nigerians to fully run his company..I can swear on your life that Dangote group will not even near top 50 companies in Nigeria with with government favour

There is a reason why the most successful companies in Nigeria are ran by foreigners in the top most part of the pyramid..

pocom16:

Lol..

You are just being emotional..

Listen carefully..if Dangote had trusted Nigerians to fully run his company..I can swear on your life that Dangote group will not even near top 50 companies in Nigeria with with government favour

There is a reason why the most successful companies in Nigeria are ran by foreigners in the top most part of the pyramid..

Can you mention the most successful companies ran by foreigners? And I hope you will not mention foreign companies in your list.
And you should swear on your life not mine. If Dangote did not enjoy so much govt patronage, he will not be what it is today regardless of the number of Indians he employs

Ojuntana:

Can you mention the most successful companies ran by foreigners? And I hope you will not mention foreign companies in your list.
And you should swear on your life not mine. If Dangote did not enjoy so much govt patronage, he will not be what it is today regardless of the number of Indians he employs

So government is the one patronising dangote's goods...are you normal?

What is government doing with sugar and cement?

It is common sense to mention foreign companies because they own most of the manufacturing companies here.. regardless..if you want another classic Nigerian founded company..then BUA group and innoson motors are another examples

pocom16:


So government is the one patronising dangote's goods...are you normal?

What is government doing with sugar and cement?

It is common sense to mention foreign companies because they own most of the manufacturing companies here.. regardless..if you want another classic Nigerian founded company..then BUA group and innoson motors are another examples

So you think only patronising goods is the means of supporting a business.... How old are you?

See the funny question.

I can easily tell you indigenous Nigerian brands doing well without Indians running the place. The banks are good examples. Genesis Malls, Big Rite industries, Honeywell, LCC etc And which Indians are running Innoson and BUA? You don't know what you are saying. Never heard of that

Ojuntana:

So you think only patronising goods is the means of supporting a business.... How old are you?

See the funny question.

I can easily tell you indigenous Nigerian brands doing well without Indians running the place. The banks are good examples. Genesis Malls, Big Rite industries, Honeywell, LCC etc And which Indians are running Innoson and BUA? You don't know what you are saying. Never heard of that

Oga .I didn't mention Indians running BUA and innoson .

Those companies also have foreign workers mostly Asian.
You used the word "patronise" not support...next use the right word.

Government support Dangote along with many other establishment in Nigeria including innoson

pocom16:


Oga .I didn't mention Indians running BUA and innoson .

Those companies also have foreign workers mostly Asian.
You used the word "patronise" not support...next use the right word.

Government support Dangote along with many other establishment in Nigeria including innoson

I asked you to mention ten indigenous successful companies managed by Indians. You responded with BUA and Innoson. Having foreign workers is not the question. What nationality are those running the place? The fulcrum of the argument we are having.
I used "patronage" not patronise.
Of course govt does that. You are still yet to show me how Indians are better managers than Nigerians`

Ojuntana:
I asked you to mention ten indigenous successful companies managed by Indians. You responded with BUA and Innoson. Having foreign workers is not the question. What nationality are those running the place? The fulcrum of the argument we are having.
I used "patronage" not patronise.
Of course govt does that. You are still yet to show me how Indians are better managers than Nigerians`

If Dangote trust Indians to run his company and they have constantly kept this business on top in Africa..

If he believed Nigerians are better, he would have chosen them..those who trust Nigerians 100% are no where near is company..

✌️ Peace