In the wake of the economic crisis in the country, experts and non-experts have called on the CBN to come up with solutions to reverse the contraction of the nation’s economy. However, speaking at the opening ceremony of the retreat by the Fiscal Liquidity Assessment Committee in Abuja on Thursday, Governor of the CBN, Godwin Emefiele said that the CBN had done all it could with regard to monetary policies to stimulate economic recovery, admitting the problem lies outside that purview.
‘Monetary policy had under the circumstances rose to the occasion, deploying fully all the conventional and non-conventional tools in its purview. However, as you will know, the conditions that precipitated the economic crisis are structural, with antidotes that lie mostly outside the domain of monetary policy.’ Punch reports Emefiele as saying.
He said that circumstances beyond the control of these monetary policies were to blame for the lingering economic crisis. He cited examples such as plummeting oil prices, energy shortages and hikes in the prices of energy, depressed consumer demand resulting from weak fiscal spending, and spate of militant attacks as well as insurgency as some of these circumstances.
can monetary policies and economic plan by the cbn work alone lifts the economy in a beautiful a lift-up.On some level of thinking it can work alone,but the main issue here “IS THAT THERE IS TOO MUCH LEAKAGES IN THE ECONOMY “maybe you can add the fiscal element as a means of pushing or controling the economy.i.e the deficit budget or increasing taxes by any means.however thank haven,i am not part of any govt,also I think the nation can and will overcome this crisis now,with patient and time.
Only history will judge govt.e.g during the napoleon war,britain had a national debt of about 250 % of it’s gnp.when this fear of war waned,the british govt to balanced the book,they introduced income taxes which became a permanent features till today.if govt wants to borrow 25 billion from china or imf,i am for it
Now where do inspiration comes from ?.is it from god or man?,this present calendar we uses come originally from ancient black Egyptians,and this calendar was adapted by the romans(,when they controlled ancient Egypt) which was passed throughout their empire.how did they got this calendar ?,which is through astronomy,they found, that the postions of the stars,and the movement affects the tide and the volume of river nile
They also built a simple ruler called nilometer to confirms this observations,this nilometer was built at the bank of the river,they measures,days and nightsThis archmedes screw or some call it today is aform of nail used in ancient Egypt,and allows and uses the tide and the volume. of river nile to caught water and carries to farms
So everything we know are already in public domain,what one needs to do is to have courage and pushes yourself mentally and spirituality,so do not be afraid,when your spirit tells you or you desires something good for your health and your happiness.it means you have it already,but you did not act on the reality and the abstract thinking