I need economic students to explain why Nigeria cannot print naira to pay off its debt . What is the implication of a country printing money to carry out functions

romeorailss:
I need economic students to explain why Nigeria cannot print naira to pay off its debt . What is the implication of a country printing money to carry out functions

The implication of printing excess naira under Buhari is what Nigeria is facing today

Amotolongbo:
The implication of printing excess naira under Buhari is what Nigeria is facing today

That's not true.
This idea of claiming what someone did is being felt under another administration is bollocks.
The reason we're having problems today is the devaluation of our currency and subsidy removal and not because of printed money.
Most of the printed money has been collaterized as loans

Amotolongbo:
The implication of printing excess naira under Buhari is what Nigeria is facing today

How ? I need an explanation. Explain to me because I do not understand.

future leaders of tomorrow

romeorailss:
I need economic students to explain why Nigeria cannot print naira to pay off its debt . What is the implication of a country printing money to carry out functions

This is the basic thing they teach in economics in secondary school. Are you in primary school now?

romeorailss:
I need economic students to explain why Nigeria cannot print naira to pay off its debt . What is the implication of a country printing money to carry out functions

With all due respect I really really need to know, Did you graduate from university?

SoNature:


This is the basic thing they teach in economics in secondary school. Are you in primary school now?

I swear Nigeria is full of people like this, you will be surprised to find out that this fellow got A1 in all subjects in waec.

Prigidypogodo:
future leaders of tomorrow

Lol its mind boggling abi?
70% of Nigerians are like the Op

romeorailss:
I need economic students to explain why Nigeria cannot print naira to pay off its debt . What is the implication of a country printing money to carry out functions

Which of your debtors would accept naira?

You need to change them to dollars na, this extra demand would increase the cost of dollars

mrvitalis:

Which of your debtors would accept naira?

You need to change them to dollars na, this extra demand would increase the cost of dollars

He can't understand it. Pls explain further, why is dollar so important, why not just pay in naira?

too much money in circulation will cause inflation!! we're facing it currently.Ask Zimbabwe

Kukutenla:

That's not true.
This idea of claiming what someone did is being felt under another administration is bollocks.
The reason we're having problems today is the devaluation of our currency and subsidy removal and not because of printed money.
Most of the printed money has been collaterized as loans

Just cause u think the other person was defending PBATs government, in a bid to attack him, u didnt even bother to answer the Ops question, thereby rendring your post on this thread useless

EmperorCaesar:


Just cause u think the other person was defending PBATs government, in a bid to attack him, u didnt even bother to answer the Ops question, thereby rendring your post on this thread useless

Just cause you want to attack me, you didn't bother to answer the Op's question, thereby rendering your post on this thread useless
Talk about removing a speck from your neighbour's eyes while there's a log on yours.
Woeful hypocrite

romeorailss:
I need economic students to explain why Nigeria cannot print naira to pay off its debt . What is the implication of a country printing money to carry out functions

I can understand you as a lay man asking this kind of question but when emiefele as CBN governor who is supposed to laugh so hard at this kind of suggestion went ahead to be printing money indiscriminately, you know there is real wahala.

When Obaseki first mentioned that Nigeria was just printing money upanda, I thought he was just playing opposition politics. A CBN governor should not be doing something that foolish.

Op, now to your question, they say you do not tell a blind man that the rain is falling. This high cost you are seeing now, most of it is from when a whole CBN governor who should know better decided to go on a printing gallow. With too much cash in circulation without a corresponding increase in production, there will be more cash chasing the same quantity of goods which will lead to higher cost and increased inflation. That is where we are now.

Also, most of our loans are in USD which Nigeria cannot just use a HP laser printer to print, the way we are able to print naira, Instead, we will need to work our ass out to earn the USD which we can then use to offset those debts you are talking about.

Questions like these are good, it helps all of us to learn. I also did ask this question at some stage also

Birdbyrde440:


He can't understand it. Pls explain further, why is dollar so important, why not just pay in naira?

Dollar, naira are called fiat money backed by demand, everyone wants to or know someone who wants to do business with USA

What does a Spanish wine maker need naira for?

No body demand naira because we sale nothing

mrvitalis:


Dollar, naira are called fiat money backed by demand, everyone wants to or know someone who wants to do business with USA

What does a Spanish wine maker need naira for?

No body demand naira because we sale nothing

Dollar is the world's reserve currency. It is called a fiat currency because it is not backed by anything other than the U.S military might and the Petro-dollar system (oil must be bought and sold in dollars)

9jatriot:


I can understand you as a lay man asking this kind of question but when emiefele as CBN governor who is supposed to laugh so hard at this kind of suggestion went ahead to be printing money indiscriminately, you know there is real wahala.

When Obaseki first mentioned that Nigeria was just printing money upanda, I thought he was just playing opposition politics. A CBN governor should not be doing something that foolish.

Op, now to your question, they say you do not tell a blind man that the rain is falling. This high cost you are seeing now, most of it is from when a whole CBN governor who should know better decided to go on a printing gallow. With too much cash in circulation without a corresponding increase in production, there will be more cash chasing the same quantity of goods which will lead to higher cost and increased inflation. That is where we are now.

Also, most of our loans are in USD which Nigeria cannot just use a HP laser printer to print, the way we are able to print naira, Instead, we will need to work our ass out to earn the USD which we can then use to offset those debts you are talking about.

Questions like these are good, it helps all of us to learn. I also did ask this question at some stage also

Why do you guys keep spinning this narrative that Emefiele printing money is the cause of the spiraling inflation?
Why did the inflation not spiral when the printed money was being spent by FG and States but it started spiralling after the printing supposedly stopped with the removal of Emefiele? Is there any reason for the delayed effect? Can you explain why almost a year after Emefiele's money printing, inflation has topped 30% with food inflation being the main driver while it was max 26% when Emefiele left office? All these wayo economics in a bid to shift blame will take us nowhere

Kukutenla:


Why do you guys keep spinning this narrative that Emefiele printing money is the cause of the spiraling inflation?
Why did the inflation not spiral when the printed money was being spent by FG and States but it started spiralling after the printing supposedly stopped with the removal of Emefiele? Is there any reason for the delayed effect? Can you explain why almost a year after Emefiele's money printing, inflation has topped 30% with food inflation being the main driver while it was max 26% when Emefiele left office? All these wayo economics in a bid to shift blame will take us nowhere

Inflation isn't completely caused by devalued money
It's pegged on certain aspects of the economy that controls the factors of production

Like fuel price

Like it or not if fuel price crashes to 150 today you'll see how everything will stop falling along the path


The purchasing power of a money is one of the most important aspects of the economy

Buhari might have printed excess money but hey subsidized fuel price does the excellent job of cushioning the effect because price of things are tied fuel price. And as dull as Buhari he never accepted Naira to be devalued despite pressure from IMF all these brings some kind of

Tinubu just collapsed the economy by removing subsidy very quickly knowing fully well how fuel price affects the factors of production in Nigeria...

BrodaBenad:


Inflation isn't completely caused by devalued money
It's pegged on certain aspects of the economy that controls the factors of production

Like fuel price

Like it or not if fuel price crashes to 150 today you'll see how everything will stop falling along the path


The purchasing power of a money is one of the most important aspects of the economy

Buhari might have printed excess money but hey subsidized fuel price does the excellent job of cushioning the effect because price of things are tied fuel price. And as dull as Buhari he never accepted Naira to be devalued despite pressure from IMF all these brings some kind of

Tinubu just collapsed the economy by removing subsidy very quickly knowing fully well how fuel price affects the factors of production in Nigeria...

He was simply pandering to Western propaganda
Now he has to deal with the after effects which seems to have bewildered even him

romeorailss:
I need economic students to explain why Nigeria cannot print naira to pay off its debt . What is the implication of a country printing money to carry out functions

they could actually print naira and buy remittances aggressively before paying debts but that will flood the local economy with so much Naira that isn't backed by real goods or valuables. The end will be inflation.

I think the above is better than paying idle and unproductive work forces which is like exchanging the printed money for less or almost nothing anyways.

Kukutenla:


Why do you guys keep spinning this narrative that Emefiele printing money is the cause of the spiraling inflation?
Why did the inflation not spiral when the printed money was being spent by FG and States but it started spiralling after the printing supposedly stopped with the removal of Emefiele? Is there any reason for the delayed effect? Can you explain why almost a year after Emefiele's money printing, inflation has topped 30% with food inflation being the main driver while it was max 26% when Emefiele left office? All these wayo economics in a bid to shift blame will take us nowhere

economists with decades of experience will say something with evidence but kukutenla from Nairaland Business School will counter and say they're talking nonsense. Please keep printing and hide it under ways and means

KillahPriest:
economists with decades of experience will say something with evidence but a from Nairaland Business School will counter and say they're talking nonsense. Please keep printing and hide it under ways and means

Can you mention the economists that said the printing of money is the cause of the present hyperinflation?
Has the ways and means loans not been collaterized already as bonds or is it that you don't even know anything but just want to regurgitate propaganda to defend your a meal o' corn

Kukutenla:

Can you mention the economists that said the printing of money is the cause of the present hyperinflation?
Has the ways and means loans not been collaterized already as bonds or is it that you don't even know anything but just want to regurgitate propaganda to defend your a meal o' corn

ok

Prigidypogodo:
future leaders of tomorrow

But tinubu made this suggestion during Buhari regime today he's your president.

CBN cannot print foreign Currency

Amotolongbo:
The implication of printing excess naira under Buhari is what Nigeria is facing today

NO. BUHARI EMEFIELE WERE DISASTERS. THEY PRINTED NAIRA FOR TERRORISTS FROM MARADI AND ZINDER DEPARTMENTS. FULANI HERDSMEN ARE TERRORISTS AND BUHARI IS BEHIND THEM BY CHRISTIANA AMANPOUR CNN.

Amotolongbo:
The implication of printing excess naira under Buhari is what Nigeria is facing today

NO. BUHARI EMEFIELE WERE DISASTERS. THEY PRINTED NAIRA FOR TERRORISTS FROM MARADI AND ZINDER DEPARTMENTS. FULANI HERDSMEN ARE TERRORISTS AND BUHARI IS BEHIND THEM BY CHRISTIANA AMANPOUR CNN.

Orisa37
YOU PRINT MONEY FOR PRODUCTION NOT TO JUST DASH AWAY OUTSIDE THE COUNTRY.

romeorailss:
I need economic students to explain why Nigeria cannot print naira to pay off its debt . What is the implication of a country printing money to carry out functions

Because our debtors prefer payments in dollars and we can do nada about it.

romeorailss:
I need economic students to explain why Nigeria cannot print naira to pay off its debt . What is the implication of a country printing money to carry out functions

After world war 1 Germany printed out more money to help offset it's loans and war reparations.

Check what happened to Germany after.

Google Weimar Republic Financial Crisis or Hyperinflation in the Weimar Republic

Because that’s the very definition of voodoo economics!

you can't print more money ooo......you are only calling for more trouble economically i e Inflation and Fx instability like we're having currently.