CBN Says You Can’t Fight Poverty While Inflation Is High

Arise Business Correspondent Rotus Oddiri discussed the Nigerian Monetary Policy Committee Decision to hike rates to 27.25%
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[@magic4376]

Dr Abatti my Man God bless you for that statement. "Textbook approach" 😅😅😅

[@rotimikayode1072]

Abati got it wrong there. If you understand Economics well enough, easing monetary rate at this time will only make things worse as far as inflation is concerned. The CBN still needs to hold on for at least three to six months more and lets see what happens from there.

[@samsonoyebanji2358]

No looters allowed in China. No gov will carry public fund to black market to change yuan to dollars.

[@kingsleyihe5500]

The major cause of high inflation and poverty is unproductive money expansion ( eg money printing and currency devaluation ).....other issues like fuel prices or even food will always subside after an initial spike to a sustainable level .

[@sulaak]

Nigeria does not produce anything for export

[@rotimikayode1072]

The government is not printing money. Stop talking about what you don't understand. What we are facing is cost-push inflation occasioned by low level of productivity as a direct results of terrorists activities in the agricultural sector and also the export of farm produce out of Nigeria without any consideration for the demands for these products back at home. While the government is addressing the issue of insecurity with lots of fervour, they are ignoring those who are exporting government subsidized imported foods as well as locally produced foods to neighbouring and other countries at higher prices at the expense of Nigerians.

[@gabrielobidi1083]

Well done Dr. Rotus. I always enjoy your business updates. Where can we get the Nigerian economic calender?

[@ChimaobiNwagbara]

To your point Rufai, the politics of Nigeria is its biggest pitfall, it makes nonsense of any economic policy or any theoretical principles of political philosophy. The FAC is the culprit.

[@user-bt3iz7vi7q]

Nigeria has no constant supply of electricity, serious corruptions from airport, police, local government, state government, federal government and high crime, lack security, poor infrastructures …..etc. So how can Nigeria attract foreign investors? All levels of government receive their high payment and they quickly exchange their money into dollar to keep in overseas account.

[@ikechukwukalu5433]

The federal government is there living a luxury life

[@maziochendu5258]

Rotus finally getting it .. 😂😂 Adupe o He is no longer a ronu ninja 😂

[@taiwoabiodun9197]

Wàláítàlàì this government is confused. The country is drowning 😢

[@pam4442]

Canada did and it is explainable

[@conquistador-l1l]

Lol, finally Rotus who has been running around clapping for and supporting Tinubu's lack Lustre and non working economic policies, is finally facing reality and admitting the truth, that it has not worked. Rotus is just wasting his time supporting Tinubu's textbook theoretical agbado economic gambles, for as long as we have corrupt politicians who spend more on themselves rather than make sacrifices to boost productivity, we will keep moving in cycles. I have never heard Rotus point out the corruption and insane high cost of governance as part of the problem. Bro Rotus ,you cannot defend this administration and not look stupid. Tell Tinubu's administration the bitter truth. And hope they will listen.

[@ABCD1234-user-x3v]

This is the base of the brouha between him and Rufai. Rotus speaks textbook with a lot of faith in govt, Rufai speaks reality which has very little faith in govt when textbook economics is applied.

[@suleienejod2071]

These people have lost control o😢

[@uzochukwunnanwube1740]

Interesting how Japanese are battling rice scarcity, very strange to believe.

[@ABCD1234-user-x3v]

Minister of Finance is always absent. CBN will continue spinning wheels trying to use monetary policy to address our problems.

[@rayakusu-fosterB]

"WELCOME TO DEATH PLEDGE" HOW'S 🤔 🇳🇬 DOING ON DIGITAL ECONOMY! FOOD PRODUCTIVITY!!" ❤🇬🇧❤

[@godwinodekunle8314]

Why do we clap for public servants when they share their plans in Nigeria? It's not like they have achieved these plans. Perhaps that is why they don't end up doing anything most of the time: they have received prior accolades.

[@nwizunwizu3582]

Was the CBN governor reading from a paper or teleprompter? 😴

[@Emmanuel-yk8vw]

Any further increase in the pump price of fuel is likely to ground the economy. If inflation goes higher than it is, it will be most unfortunate. We must show brilliance in managing our economy. Emmanuel Atuchukwu

[@Ezenwamadu-rr5jd]

Nigeria now in greater depression!

[@maziochendu5258]

How is year on year analysis showing the same year 2024 ?!! 😂😂😂😂🤡🤡🤡🤡

[@kingsleyihe5500]

The major cause of high inflation and poverty is unproductive and money expansion ( eg money printing and currency devaluation ).....other issues like fuel prices or even food will always subside after an initial spike to a sustainable level .

[@brown-abangecca2245]

Printing money means getting money for no work done. Devaluation means getting true value for the dollar you love so much.

[@chinedujoshua5012]

Tinubu add more money to fuel price. Increase d price of dollar.

[@aipboess7138]

I understand Dr. Abati batting for the common man. However, we cannot escape the reality that inflation must be curbed and the monetary tool to achieve this is interest rate. The monetary side has also fingered the state governments dollarising their allocations as the other issue that must be dealt with. We must pay attention to the things that cause increase in M3. When we do that, the effective management of interest rates will prove to have been the wise choice. What the common man needs the most is for the Naira he earns to have value and there is no other way than this.

[@nwananka]

Where is this excess cash in the system causing inflation? Definitely not in the people's hands. Its not even circulating in the system. Corruption is how we got here and textbook approach will not resolve it.

[@koa4130]

Brilliant line from you “what the common man man needs the most is for Naira to have value and there is no other way than this.” permit to use this line to educate others…!