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Nairaland Forum / Nairaland / General / Politics / Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ (20068 Views)
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Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by GENES11S: 8:39am On Aug 23, 2023 |
jumper524: The value didn't improve. It was around 460 naira to dollar (official rate). The only positive was that price of goods and services dropped significantly because of shortage of money. This itself means that some producers where overpricing their products thus leading to inflation. Same strategy might not work this time because fuel price has tripled. So cost of production is now higher than before. 2 Likes |
Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by masterduba(m): 8:39am On Aug 23, 2023 |
mrvitalis: 1. Don't pump any more money into an economy saturated with worthless naira notes. It will only encourage the elites who call first-dibs on it to buy dollars and hedge. This will cause further devaluation of the naira. 2. Cutting the supply will dissolve all those foreign currencies speculators have padded in the bank into naira for meaningful economic activities. Remember we don't spend dollars. 3. Taxes for manufacturing have already been cut. This is a palliative manufacturers can maximise. 4. Giving loans to untested enterprises just for media plaudits at this time might lead to financial losses for both creditor and debtor. Let the existing market innovate and things will adjust organically. 14 Likes |
Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by kokoA(m): 8:39am On Aug 23, 2023 |
We need to spend our way out of this bad economic situation, you don't cut off money supply for now rather pump more money into the system. |
Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by mrvitalis(m): 8:41am On Aug 23, 2023 |
shinealight:UK has achieved uptimal productivity they are stocked you can no longer increase productivity the ceiling is very low for them reason they are allowing immigrants to raise it a bit You should not look at UK, USA or Germany Rather like obi said look at Egypt, Vietnam, Bangladesh, china, Malaysia, Indonesia.... Those are our class Mopping up money would send millions into the poverty net Buhari did it what happened? 3 Likes |
Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by seunayantokun(m): 8:41am On Aug 23, 2023 |
Grammar...cutting without producing your needs is going round in an empty circle. |
Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by mrvitalis(m): 8:43am On Aug 23, 2023 |
masterduba:Tax for manufacturers are reduced? To what? Lmao obviously u are not a producer 2) you don't give loans to businesses you give it to banks at 3% banks look for n judge the right businesses to give at 10% 1 Like |
Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by shinealight(m): 8:45am On Aug 23, 2023 |
mrvitalis: Glad you mentioned the word ‘experience’. Your PhD is useless without the requisite experience….so what you claim to know is mere theory! Wale Edun was Commissioner for Finance for Lagos State back in 1999….probably before you were even born. So, try demonstrate some measure of humility before you start blabbing! ![]() ![]() 8 Likes 1 Share |
Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by symbianDON(m): 8:46am On Aug 23, 2023 |
oluseyiforjesus:these people are grossly overrated! This is government of anywhere-belle-face. 1 Like |
Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by shinealight(m): 8:47am On Aug 23, 2023 |
mrvitalis: Kindergarten economist….PhD ko, PhZ ni! ![]() ![]() 4 Likes 1 Share |
Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by yeshuasfootstep(m): 8:48am On Aug 23, 2023 |
For those still hoping that things will get better, hope you've seen those you're hoping on? Brace up everyone because the suffering am seeing is unimaginable. |
Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by masterduba(m): 8:49am On Aug 23, 2023 |
mrvitalis: It looks better now that you have provided some contextualisation. |
Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by HeroicMeastro: 8:50am On Aug 23, 2023 |
mrvitalis:Ok. So can u describe your self professionally? Let us know what you are before taking your comments |
Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by LockDown69(m): 8:50am On Aug 23, 2023 |
We have seen what the introduction of the new naira note had done to the economy, kukuma kill everyone and rest. |
Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by HeroicMeastro: 8:50am On Aug 23, 2023 |
Judekenny:So are you wishing for Tinubu to fail too? |
Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by hegelian: 8:51am On Aug 23, 2023 |
This is very easy to but the political will can never be there.. Over 40% of Nigeria cash is in hoarding and outside the bank and in a very large currency paper.. All the cbn need to do is delete high denomination from circulation like 1000nand 500 and make 200naora the highest form of denomination.. Lets see how billions will be siphoned in cash and who will be counting them.. Money Wil return back to the bank, cashless policy will work and money laundering will reduce which in turn reduce inflation.. 4 Likes |
Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by mrvitalis(m): 8:51am On Aug 23, 2023 |
shinealight:Wale Edun has little knowledge of macro economics... Has no experience I have read his CV.... State commissioner for finance is more of an accounting job is largely micro economics which is ok in tho not an expert Minister of finance is not in any way similar to commission of finance theor job descriptions is largely divergent to each other Minister of finance is largely policy formulation for the fiscal policy of the nation, balancing of trade, and overall economy coordination Wale Edun can't even compare to Oby ezekwesili in any level... Bro he no reach her half by any standard... No they hype that man 9 Likes |
Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by mrvitalis(m): 8:53am On Aug 23, 2023 |
shinealight:Lol 🤣🤣I done carry you go where u no know abi... He done drop to abuse Lmaooo That's all u can do You can't engage me intellectually them no born your papa well 4 Likes |
Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by jumper524(m): 8:53am On Aug 23, 2023 |
GENES11S: Bro till now some products are still over priced due to excess supply of cash. And yea the naira to dollar gained lots of value during the naira scarcity. Businessday NG https://businessday.ng › article › ex... Exchange rate steadies amid new naira scarcity If such policy continues, there won't be daily increase in the price of fuel due to exchange rate and it might force the fuel price to go down due to improvement of exchange rate at the parralel market. 1 Like |
Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by HeroicMeastro: 8:54am On Aug 23, 2023 |
igwebuike01:Hahahahahaha Na to worship PO e remain for wuna😂 Gullible, brainwashed idiots |
Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by mrvitalis(m): 8:54am On Aug 23, 2023 |
HeroicMeastro:What has that got to do with me stating a theory that is known If u have a counter theory to support tinubu policy state it There is no how cutting money supply won't further push millions into poverty... Let me here your argument 1 Like |
Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by obyno82: 8:55am On Aug 23, 2023 |
jumper524: The whole scarcity was masterminded by those in APC who opposed the policy. They created an atmosphere of uncertainty which resulted in a run on the banks, that alone resulted in a situation whereby the banks couldn't supply the cash needs because the number of people who stormed the banks for withdrawal couldn't match the cash allotted daily. |
Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by Nobody: 8:59am On Aug 23, 2023 |
Toh! ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]()
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Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by IamAtikulate: 9:01am On Aug 23, 2023 |
It's seems Wale Edun is still living in 19th century economic theories. Someone should wake him up that this is 21st century. That theory works during the time of Adam Smith, not now 1 Like |
Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by shinealight(m): 9:02am On Aug 23, 2023 |
mrvitalis: In two posts, you already referred to your tin god, Obi and your goddess Ezekwesili….so one can already see where you’re coming from. No one else knows better than you guys…..yet your man was CBN Governor for years but had little to show for wisdom in economics! I will advise you IPOB guys to wait for Biafra so you can apply your PhD theories! 6 Likes 1 Share |
Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by pandax: 9:04am On Aug 23, 2023 |
mrvitalis: I am sure you are an Obidient citizen, as only they will think like you. Keep it up! 3 Likes |
Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by SalamRushdie: 9:04am On Aug 23, 2023 |
mrvitalis: He is already on the wrong track |
Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by mrvitalis(m): 9:04am On Aug 23, 2023 |
shinealight:Lol 😂😂😂 this one cant engage intellectually them no born you well na State theories, explain how wale Edun theory would work... Counter my argument Show me his CV how he is better than Oby ezekwesili I dare you 1 Like |
Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by mrvitalis(m): 9:04am On Aug 23, 2023 |
pandax:Obedient na .. Sure 100% |
Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by SalamRushdie: 9:04am On Aug 23, 2023 |
These clowns willl bury the economy ..Does Nigeria really have an oversupply issue or and allocation issues, most of the monies is Nigeria is tied up circulating within just a few and this minister has mistaken that to be a over supply ..we need to reallocate supply to other sectors , we can start by cutting the budget of NASS and reallocating that to a 500 percent increase in teachers salaries , that alone will change the dynamics of the supply , wasting 80 percent of your revenue on politicians is the fastest way to kill any economy |
Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by Willie2015: 9:05am On Aug 23, 2023 |
mrvitalis: Pumpin money is not the solution... in an environ with high corruption and greed... U will end up with huge financial losses..... Nigeria Managers has a terrible ways of making funds disappear.. It will be hjacked by politicians and elites.. Read about the Nigeria’s N117Billion Rice Import Quota Scam ...... Involving Aondoaaka, Aliero, Dangote, BUA, Stallion Group... |
Re: Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply’ by StreetFight: 9:07am On Aug 23, 2023 |
mrvitalis: Please can you post your MSc and PhD degrees in Economics? If you don't have, kindly shut the fucck up before we forcefully shut it for you 4 Likes 1 Share |
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