CBR100:


You just dey shout production up and down as if dat is how easy it is..... throw money and start manufacturing??

Manufacture what?? Computer,phones,human hair .....u think capital is the only requirement to manufacture abi ??

It's actually easy... The issue is government want to select the manufacturers and were they are from

There are low hanging fruits we can take

Garment
Fruit concentrate
Leather works
Cookware
Tableware
Glass
Aluminum shits
Ethanol
Sugar

I can keep going

shinealight:


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!

My problem with you guys is that you see every criticism as a threat, that guy made a great point. Listen, economic policies doesn't deal with sentiment, no body is saying that Wale policy is not OK, but should be accompanied with other good policy like import substitution strategy as he rightly said.

Talking about when he was born, this is a faceless forum, an that man night even be older that Wale.

StreetFight:



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

Pls post Wale's PhD degree cert in economics.

Awful trial and error method, to what end there of.

BreconHills:


I disagree.
You are making a choice between growth and inflation as if they were two different things. It doesnt matter how much money you pump into the economy if it leads to 1) increase in cost of good sold and ultimately prices and 2) FX arbitrage as a means of locking in real value.

Truth is there is no simple solution because the patient is so ill and the economy so interlocked that you need excessive care lest the patient die on you.

Cutting money supply with rein in demand push inflation but like you I don't fully agree with this because 70% of our inflation is imported inflation (aka weak naira) The only solution is improve fx inflow and management. Anything else is giving pain killers to someone with a malignant disease.

Sir, how will pumping money to the manufacturing sector lead to high cost of goods sold, and again, how do we fix the naira by just managing the FX market.

TheBillyonaire:
The price inflation at the moment is not caused by excess liquidity but arbitration in the fx market. The text book approach of cutting excess liquidity to curb inflation is NOT default approach for any inflationary signal. Whatever excess liquidity they might think of, is basically cash in water tanks used for fx profiteering by the economic assasins.

Economic Assassins..... Hahahahaha

I don see new word acrobatics today... Rightly put, those guys are simply assassinating the economy with phantom and nonsense pretenses to solve the matter on ground.

I don't believe they don't already know this, I feel all their pretensions are tailored toward a goal that escapes this daddy but of course, always geered towards assassinating the economy so to speak.


Billyonaire don make me laff dis mourning...

JimD:
. Spoken like someone who has no idea of macro-economics. The economy doesn't suffer from a lack of money supply. And ramping up manufacturing is a long term play

So sir, what is the way forward.

mrvitalis:

It's actually easy... The issue is government want to select the manufacturers and were they are from

There are low hanging fruits we can take

Garment
Fruit concentrate
Leather works
Cookware
Tableware
Glass
Aluminum shits
Ethanol
Sugar

I can keep going

All dis In country without stable electricity
Do we mine bauxite or produce aluminium
All dis u mention ar high energy production (glass and aluminium) u can go for a whole year without shutting down your electrolysis system or glass heating system
Any company dat want to be profitable.....will not wanna establish in Nigeria

Even textile industry for them to survive we must stop importing of used product

CBR100:


All dis In country without stable electricity
Do we mine bauxite or produce aluminium
All dis u mention ar high energy production (glass and aluminium) u can go for a whole year without shutting down your electrolysis system or glass heating system
Any company dat want to be profitable.....will not wanna establish in Nigeria

Even textile industry for them to survive we must stop importing of used product

I have a factory and power is never been an issue... My factory has never been connected to nepa and never will

Power is not an issue biggest issue killing business in Nigeria is access to credit

mrvitalis:

I have a factory and power is never been an issue... My factory has never been connected to nepa and never will

Power is not an issue biggest issue killing business in Nigeria is access to credit

For aluminum and glass production

Ok Sir

Saintinoo:


My problem with you guys is that you see every criticism as a threat, that guy made a great point. Listen, economic policies doesn't deal with sentiment, no body is saying that Wale policy is not OK, but should be accompanied with other good policy like import substitution strategy as he rightly said.

Talking about when he was born, this is a faceless forum, an that man night even be older that Wale.

I doubt that he’s older….age seldom hides itself in fake clothing….it always shines through!
As for Wale Edun’s policies….why won’t you guys allow him to even take a seat in his office before you start your venomous, deriding and insulting categorisation of his policies and person……if your criticism is coming from a good place and not done on any myopic or political basis?

No vision no direction

shinealight:


I doubt that he’s older….age seldom hides itself in fake clothing….it always shines through!
As for Wale Edun’s policies….why won’t you guys allow him to even take a seat in his office before you start your venomous, deriding and insulting categorisation of his policies and person……if your criticism is coming from a good place and not done on any myopic or political basis?

Economics as a Field of study would never had happened without criticism, there are hundreds of well known scholars in economics and each scholar had his theories criticized.

Economics is not like other fields, policies are being modified via criticism. Check my own criticism. Although I accepted his policies but other accompanying policies need to be adopted.

Okay I hated Tinubu but I felt he would be smarter than the dullardeen in trying to regulate market forces ie money supply etc but this dude is even proving me wrong now... his economic policies will be a disaster. This is a bad policy. Buhati tried the same rubbish and it crippled the economy.. whats wrong with these people. Simply remove all these stupid tariffs and hurdles and ensure ease of doing business. Right now we have no luxury for regulating anything. Let the market decide. Open the borders. Remove all stupid tax and levies. Just let supply and demand determine itself then slowly introduce regulations in time.

CBR100:


For aluminum and glass production

Ok Sir

Sure why not gas is cheap... $3 million dollars can get it a gas turbine of 3mw ... Power with cheap CNG it's cheaper than what ever nepa would cost

This is why we need industrial layout where companies come together to buy power plants

shinealight:


Even in developed nations, that’s exactly the standard practice and economic wisdom being adopted. Check out what’s presently happening even in the UK!

so why all the fuss about emefiele doing same then

Asgard73:


50 years of Yoruba in government unopposed.. Nigerian will be dragging with Eritrea..

When you see people repeating same mistake with all boldness and are ready to defend the same failure

Four years like this with this policy.. I only piety those in ekiti Oyo Ondo

Thank God the illegal government won’t survive

Saintinoo:


Economics as a Field of study would never had happened without criticism, there are hundreds of well known scholars in economics and each scholar had his theories criticized.

Economics is not like other fields, policies are being modified via criticism. Check my own criticism. Although I accepted his policies but other accompanying policies need to be adopted.

You miss the point. We’re not here to debate about economic theories and who has PhD and who does not. The guy in his original post admitted he needs 5 years experience after his PhD…..but he’s already criticising someone with 30 years experience even before he has commenced putting his ideas to work. You guys should just chill and let’s see how he proceeds in practical terms before going for the microphone!

The mumu finance ministers we've had since 2015 coupled with the corrupt presidents are the reasons for the mess we are in.

Ngozi Okonjo Iweala, you be big name.
Kemi Adeosun, Zainab Ahmed & Wale Edun suppose do 1 year IT under u.

But how well did Emefiele that was not mere state commissioner he perform ?! You have right to your rant sha continue to de make the noise.

Until we see the effect of the Edu pronouncement nothing any Igbo like you can tell me na this same country all of use de when Okonjo was borrowing to pay FG workers when crude sold for $100 till death you igbos supported na so we self de gidigba behind Edu.

mrvitalis:

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

KwuoteYourFada:
so why all the fuss about emefiele doing same then

Emefiele was more busy doing round-tripping to make himself and his cronies wealthy by adopting dual interest rates!

shinealight:


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!

you are wise person you don catch him already his on(we better pass them)agenda.

Saintinoo:


Sir, how will pumping money to the manufacturing sector lead to high cost of goods sold, and again, how do we fix the naira by just managing the FX market.

Pumping money into the manufacturing sector will be nominally in naira but will in essence be fx because plant, machinery and spares are usd denominated. If it is for local content only - I understand. But will it?

Whether we like it or not we have a dollararized economy due to the import/local content being heavily skewed to import.

Someone else commented and gave the very accurate opinion that my suggestion was mid to long term - and I agree.

Hobbs choice I am afraid.

Last tenure, we had an overbearing CBN Governor poke-nosing into fiscal matters. This time Edun is the one talking about monetary matters. That's not his job! Let CBN handle money supply and sundry.
Everything he said is ok and normal inflation control mechanism. Nothing special.
He should tell us about how to ramp up fx inflows in the short term to tackle imported inflation and fx fluctuations. Low hanging fruit... Stop crude theft, improve production! This is absolutely within your control. Then Attract long term FDI and stop importing fuel. Make balance of trade +ve first. We'll get stability with that.
I disagree with concept of pumping money into one area by @vitalis. Money from where? At what cost to the giver? Sounds like palliative again. All that only create inefficiencies.

BreconHills:


Pumping money into the manufacturing sector will be nominally in naira but will in essence be fx because plant, machinery and spares are usd denominated. If it is for local content only - I understand. But will it?

Whether we like it or not we have a dollararized economy due to the import/local content being heavily skewed to import.

Someone else commented and gave the very accurate opinion that my suggestion was mid to long term - and I agree.

Hobbs choice I am afraid.

Of course we will buy in dollars, even the emerging economies are still using dollar, but what will pumping money to the manufacturing sector help us achieve, not if we will still use dollar to purchase the machines.

lincsnuel:
This is exactly what Emefiele said. That's why he and Buhari implemented the policy that negatively impacted businesses and the citizens. Nigeria economy is not something you wake up and start implementing some random policy. You need to understudy it and understand the policy that will be optimal and bring positive outcome in not so long time and I quite agree with mrvitalis points.

Pump money into manufacturing and give them time then you'd start seeing the positive results.

Smiles, what Emefiele did wasn't reducing money in circulation. He was reducing fiat currency.

LordAdam16:


Emefiele's tenure did not start in 2021.

We had two recessions in 5 years. https://www.reuters.com/article/nigeria-gdp-idUSL1N2I7084

And the reason the economy grew at over 3% post-2021 is because he funneled trillions into it.

Which is not peculiar to him either. The entire planet pumped ungodly amount of cash into the system. Everyone is wrestling with the aftershocks.

-Lord

Yes. Recession causes deflation. Covid-19 was a worldwide recession. And every smart country funnelled money into their economy at the time. They encouraged small biz loans, mortgages and deployed money to people for local and foreign investments. Nigeria's Central bank under Emefiele didn't.

After Covid-19 when it was time to revert back as worldwide inflation had already started (in part fueled by Russia-Ukraine war), our guys were sleeping, while countries like the US were working to improve their currencies by playing with interest rates.

These ones were just borrowing people naira and dollar anyhow, then borrowing from The World bank, China etc. to run a very expensive government. So it's just simple demand and supply. When there's limited supply vs demand, price increases, that's your currency in respect to other countries. When you increase supply vs demand, price decreases, that's why the naira will keep going down unless drastic measures are taken by the Central Bank.

MTNnews:
But how well did Emefiele that was not mere state commissioner he perform ?! You have right to your rant sha continue to de make the noise.

Until we see the effect of the Edu pronouncement nothing any Igbo like you can tell me na this same country all of use de when Okonjo was borrowing to pay FG workers when crude sold for $100 till death you igbos supported na so we self de gidigba behind Edu.

Emefiele is same, micro economics in fact he is better than wake Edun by CV and work experience

mrvitalis:
Like I said making a micro economist CBN governor and minister of finance is a tragedy waiting to happen

Buhari did same at least they were humble to accept they didn't know took time before taking decisions

Now we have a bad combination of arrogance and ignorant people as heads of our CBN and finance ministers


my solution
Cutting money supply would harm the already struggling businesses ...so what to so

Pump money into key manufacturing sectors as low interest loans 10% max give them 8 months before Tenure starts

Make sure they are in this two areas 1) import substitution products 2) exportable products produced at below international market price

This would marke goods available to match money supply dragging down inflation creating jobs and increasing revenue for government


Note when I mean pump in money I don't mean 50billion 😂😂

I mean 5 trillion minimum

Is manufacturing the only sector we have in the country? Where do you expect the govt to get 5tr to give out to a sector? Can you highlight practical ways on how to raise the 5tr minimum?

mrvitalis:
Emefiele is same, micro economics in fact he is better than wake Edun by CV and work experience

This is pure lies, Emefiele is not an economist. He is a banker(training and profession)

Saintinoo:


So sir, what is the way forward.

Ol boy I don't know o. I'm not in government. But what I know is the Central Bank has to peg the naira to dollar rate first. Then they can take this advice here by Wale Edun. And hopefully, if Tinubu has sense now, he'll reduce the costs of government and remove other unnecessary subsidies Nigeraia is paying. Or else the Naira will keep free falling until we start using the dollar like an economically colonized country (e.g El Salvador)

Buccalcavity2:
Last tenure, we had an overbearing CBN Governor poke-nosing into fiscal matters. This time Edun is the one talking about monetary matters. That's not his job! Let CBN handle money supply and sundry.
Everything he said is ok and normal inflation control mechanism. Nothing special.
He should tell us about how to ramp up fx inflows in the short term to tackle imported inflation and fx fluctuations. Low hanging fruit... Stop crude theft, improve production! This is absolutely within your control. Then Attract long term FDI and stop importing fuel. Make balance of trade +ve first. We'll get stability with that.
I disagree with concept of pumping money into one area by @vitalis. Money from where? At what cost to the giver? Sounds like palliative again. All that only create inefficiencies.

God bless you. I think the issue I have too is the economy min poke nosing into monetary matters, however, considering that the CBN act makes him a sort of adviser to the CBN gov, I will give him a benefit of doubt.
We should not have a situation whereby CBN policies will be pulling down Fiscal policy as we had the last time. Probably that's why he is the Coordinating Minister