MONEY PRINTING ALLEGATION MADE BY GOVERNOR OBASEKI

Sequel to the introduction of RUQchat podcast, the two brilliant lovebirds have released another thought provoking episode talking about the allegation made by the Governor of Edo State, Godwin Obaseki a few months ago regarding printing money and the economy in general. This was prompted by the viral clip of the Governor stating the nation’s stale reliance on crude oil and the withdrawal of major oil investors from Nigeria.

Governor Obaseki alleged categorically that the Federal government printed additional 50-60 Billion Naira while the Minister of Finance, Zainab Ahmed took it upon herself to refute the claim. She made it known in an equally circulated clip that the statement was not based on fact and this has stirred a bubble of reactions everywhere.

RUQchat Naija Podcast EP 2 talks about the allegation made by the Governor of Edo State that the Federal Government printed up to 60 Billion Naira

What Rukkie and Qaadir on RUQchat podcast did was to analyze the root of the boiling topic from the obvious source of fact with all things being equal. Q being a graduate of Economics from the University of Greenwich, London, detailed some aspects of our failed economy and the wrecking state of inflation we are currently going through.

He explained in a layman’s term that ”inflation is the rate of increase in prices over a given period of time,” he narrated further that “inflation erodes purchasing power or how much something can be purchased with the Naira.” We all know that the value of Naira has diminished so abysmally that you can’t purchase the least food item at some friendly prices anymore.

As a Nigerian, you would argue how true the statements made by both the Governor and the Finance Minister were because we can’t trust any source you are hearing things from in Nigeria.

Qaadir’s analysis expatiated further on the reduction of too much currency in the economy through Open Market Operation. He went on to talk about other monetary policies.

Rukkie took over from there even though it wasn’t her area of specification like Information Technology as they bantered. She talked about our low generation of income and the killing idea of borrowing money unfortunately not for infrastructure that could have been regenerated.

The couple reviewed some comments from Twitter and discussed resolve measures for the failing economy which included economic diversification, policies for states to generate income on their own, electricity reform to adjust the cost of production, task refund and accountability, (akkantability as they pronounced)