People dey hungry.. una dey speak English

Who all these grammar epp?

Is it now you know about this... don't you know when you remove subsidy in fuel, increase the prices of fuel disel and the naira keep ondl depreciating against the dollars that it will negatively affect the economic activities of the country... and you as a CBN governor you are an economist... hyprocite

Let's wait for his oga to come and tell us it is a lie! I'm sure this guy doesn't know the APC way. Lie till you die!

ForValour:
He should fix it if he is not clueless. You are not there to complain

You imply it takes an individual like him to fix a multidimensional problem of this magnitude. How about you be objective sometimes?

After you increase everything, you n ur crooks, economy without light, yeye

"Na statistics we go chop"?

Reno Omokri has the answer to your concern

seborrhic:
This is the one CBN top ranking official that has made sense and probably knows his onions.
Increased fuel price and full floating of the ₦ alone without commiserate increased wages across board,public,private led to one of the most dreaded economic nightmares,for any country that is serious:contraction of the economy because people can't afford to pay for some goods and services,even if available.
What does that do:reduces the buying of goods that manufacturers and producers depend on,reduces the income that artisan,bricklayer,small shop owner,medium shop owner,non foods businesses get.
Even transport reduces because some go on only essential days,then even fuel consumption reduces because car owners don't get to buy as much;etc,all these lead to contraction of the economy.
In an economy run property,even goverment income should reduce because there is less profit or income generated by companies to pay taxes.
But since the Nigerian economy is headed by profiteers,scammers,politicians and others with looted funds,all these don't affect what the government sees at the end of the day,so business and life goes on as usual from the government side

Bayo Onanuga will soon warn him not to address the press again
.

Mandate1:
there's terrorism under Buhari, price of things dint go this haywire. The subsidy removal, floating the naira killed the economy.

It's common economics that only a producing and exporting economy should float. Secondly you can't produce without having stable electricity and reduced cost of production.

The govt removed subsidy and the cost of producing almost everything went up. Imagine you're a producer and you rely heavily on the use of petrol to produce, if you spend 5000 to produce daily, today your cost of same production using same quantity of fuel will be about 20000. Your cost of production has gone up, but the quantity you supply to the market has reduced cos the purchasing power of the people has also reduced. This is the main issue facing Nigeria.

Insecurity has been an on-going concern and it is peaking up. Some sickness may take years to kill its host so also is Insecurity.

Naira float and subsidy removal worsen the situation.

Production of most of the staple foods like garri are scarcely affected by subsidy removal and naira float, what pushes up prices of locally produced foods more is insecurity.

Owutuotuo:


You imply it takes an individual like him to fix a multidimensional problem of this magnitude. How about you be objective sometimes?

He talked in the capacity of the CBN, as you can see in the topic, the CBN is clearly referenced. When you work in an organization, you have the responsibility not to make unguilded utterances. In this case, he can be called out for his tactless words. And you should understand the context before you jumb into any discussion.

Yer some body is destroying landmark. Lol

Omooba77:


https://dailypost.ng/2024/05/01/nigerias-declining-economic-activities-worrisome-cbn/

People can not farm or live and be productive in peace because of bandits, terrorists and unfavorable conditions. How will the economy boom?

You ushered in terrorism but now think it should be business as usual? Rárá, mba, no.
Until state and local council policing begins, the economy won't really walk or work. Security first, please.

BULABAH

What do you guys expect when the only thing Emilokan is concerned about is more money for governments to be sharing every month, thereby milking the citizens through subsidies removal. He has forgotten that government spending through various forms is the stimulants of the economy.
People are recording losses in their businesses. People's income is barely enough to cover food, everyone is just working to be able to eat. No more saving, no more investing. Tinubu is killing our economy at an alarming rate

seborrhic:
This is the one CBN top ranking official that has made sense and probably knows his onions.
Increased fuel price and full floating of the ₦ alone without commiserate increased wages across board,public,private led to one of the most dreaded economic nightmares,for any country that is serious:contraction of the economy because people can't afford to pay for some goods and services,even if available.
What does that do:reduces the buying of goods that manufacturers and producers depend on,reduces the income that artisan,bricklayer,small shop owner,medium shop owner,non foods businesses get.
Even transport reduces because some go on only essential days,then even fuel consumption reduces because car owners don't get to buy as much;etc,all these lead to contraction of the economy.
In an economy run property,even goverment income should reduce because there is less profit or income generated by companies to pay taxes.
But since the Nigerian economy is headed by profiteers,scammers,politicians and others with looted funds,all these don't affect what the government sees at the end of the day,so business and life goes on as usual from the government side

Clear explanation in simple terms. Tinubu is killing our economy, impoverishing the citizens. More people are being plunged into poverty on daily basis. Every business is suffering. Tinubu is a disaster

seborrhic:
They are talking of a shrinking economy and one clown is talking of increasing electricity,to further shrink an already distressed economy!
When you increase tariffs,companies reduce their working hours to reduce cost,they also have to reduce staff or even close some sections of the company.
Even the night time kiosk or small business outfit have to cut their hours,instead of eg,staying till 12 or 1am,they decide to close by 10 or 11pm,reducing their income.
So just by increased electricity tariff alone,there would be some contraction in the economy,added to that already caused by fuel and ₦ floating.
Assuming Nigeria even had a reliable data base and had been tracking economic activity professionally,they would have known that the economy started contracting since diesel prices went to the roof in previous regimes.
But in an economy run on faulty foundations,where a politician can steal government funds and build an estate or companies chiefly for laundering purposes or bragging rights,or where a scammer or kidnapper can hit a goldmine and construct mansions or business mall,all these things don't matter
What a sensible goverment would have done now is freeze all increases so people can have more disposable income to buy essentials and 1 or 2 not so essential but driver of the economy.
Even this idea that increased electricity tariff will improve the sector,run by political businessmen,is a fallacy
Make electricity 1k/kWh under these same companies now running it and there would be no change!

Even people like us who could still afford to eat any food we wanted under Buhari can't spend anyhow now. It's very serious.

Goodoldays:
Peter Obi bah….we must teach him a lesson

This is not about your Messiah, go and rest.

SouthSouth1914:
Finally.., you all are beginning to have your senses!

Solution:

Reintroduce the subsidy, this will drive economic activities of SME. SMEs are the backbone of MAJOR players!

Consumers confidence will be brought back by low prices of consumer goods. Just very simple, yet so
Complicated for this funny government!

I was just wondering when even people who didn't vote for him were saying that subsidy had to go, many really agreed with him that subsidy must go. I was like, what the fvck! Do these people really know what this would mean for the masses and the economy?

Lovit:


Insecurity has been an on-going concern and it is peaking up. Some sickness may take years to kill its host so also is Insecurity.

Naira float and subsidy removal worsen the situation.

Production of most of the staple foods like garri are scarcely affected by subsidy removal and naira float, what pushes up prices of locally produced foods more is insecurity.

you're wrong sir, insecurity is not the main issue. We witnessed it under buhari. Have you considered the cost of moving garri let's say from Delta to Lagos under Buhari when fuel was 160 versus now it's 650, they can never be the same. The trader who sells garri will need to buy other commodities influenced by dollar. This is the main crux.

3 years to go for this mess, and then you can use your thumb to choose to continue to suffer for another 4 years. The choice is yours

Even during Buhari, people still had enough to invest, but under this government, people only think about how to feed and hope they don’t get sick because medical expenses no longer exist

A hint at the dire state of the country many are willfully blind to.

ForValour:
He talked in the capacity of the CBN, as you can see in the topic, the CBN is clearly referenced. When you work in an organization, you have the responsibility not to make unguilded utterances. In this case, he can be called out for his tactless words. And you should understand the context before you jumb into any discussion.

Yes, he makes an image for the CBN. But is CBN solely responsible for fixing the issue of the economy? How about you speak to the insincerity of Customs in managing policies on importation? How about the hypocrisy of the various strata of the executive in handling the issue with homeland security, that has seen to an astronomical number of IDPs? How about we stop shunting when we have to wait out turn on queues?
It’s not his alone to fix, and that’s the point.

Idiots

Did you not foresee this issues before floating Naira Bunch of fools

The sad reality but we'll get out of the wood, I trust on that.
GOD BLESS NIGERIA
WE RISE!

Cbnand it's werey comment

maasoap:


This is not about your Messiah, go and rest.

Lol,please what is it about now

Don’t tell me you are already tired o