Skip to main content

DEVALUATION OF NAIRA

On this matter of devaluing the naira, I have been listening to a lot of well intentioned but misinformed Nigerians. First things first we are where we are because there is a global slump in oil prices. Buhari is not the cause of the global slump.Other oil producing economies are in the same situation.
Devaluing the naira is not a magic solution to curb inflation if for anything it could bring about a further surge in inflation.
We are well aware that Nigerians are sometimes the cause of their own problems.The CBN governor mentioned recently that we have about  $ 20billion sitting idle in domicilliary accounts so who is causing the scarcity?
Many Nigerians especially pro biafra  supporters want to see this government fail.They rejoice at anything negative that points to the myth that the government is not doing anything. I on the other hand want to see this government succeed. I want the common man to have access to things like basic infrastructure such as good roads, electricity and education. This can only happen when we eliminate corruption from our system. I support the Buhari anti -corruption crusade.For those who wish to see this govt fail; the overall wellbeing of all Nigerians and our national interest should be your utmost concern.

Mind you the naira is already devalued. From N155 to N199 to the dollar.And it didnt change anything. Inflation rose.The CBN is fighting to keep inflation at 9%.Yet some Nigerians even those who brand themselves economists are calling for a further devaluation.

Comments

Post a Comment

Popular posts from this blog

THE GAINS AND LOSSES OF THE ABSENCE OF MR PRESIDENT: BY UWAKWE ROLAND.

President Muhammadu Buhari has been absent from duty since the last few months on a purported medical checkup in London. Good a thing he legally transferred power to the Vice President who is now the acting President, this is unlike the imbroglio that played out during Yar’adua’s time when the National Assembly had to invoke the doctrine of necessity so as to effectively transfer power to then Vice President Goodluck Jonathan. The problem is that even as an acting President, Yemi Osinbanjo has limited powers to fully assume responsibility as the commander in chief, this is because most of the big government functionaries may still owe their loyalty to Mr President, couple with this, Buhari appointed people of his like minds who may not comfortably work with the acting President that will want to bring his knowledge of law and practice into governance. Hence the long absence of Mr President may eventually result to a slow down of democratic dividends. The above ...
Post a Comment
Read more

RAPE, ITS JUSTIFICATION AND VICTIM SHAMING

It's sad that this is a world where things are not perfect but isn't that why we have laws; to correct the ills in society? I read today on a blog about a filmmaker who said that "nonviolent rape" should be legalized and that the reason rapists were raping girls was because they were sexually frustrated and that girls should accept it and even prepare themselves for it by carrying condoms and cooperating with their rapists. In fact it is clear that civilization is beyond running water and having flushable toilets, a lot of minds are still in a dark place. Before you join the number of people condemning him, think of how you shame victims of rape by suggesting that somehow they did something to provoke the animal instinct in the rapist. The dust hasn't settled yet on the case of Busola Dakolo and Biodun Fatoyinbo where an Abuja high court struck out the case and called an abuse of court processes and said it was statue barred. They were irregularities as cited by ...
Post a Comment
Read more

LOVE IS OVERRATED

We often mistake lust for love and many people mistake infatuation for true love. So many people preach that if you are no longer happy in a marriage then you should just call it quits. How about telling people to remember what made them happy in the first place and work on getting back to that place. A man wakes up in the morning and tells his wife he wants a divorce because he has fallen in love with someone else even when children are involved. The fact that you once proposed marriage to a person means you once considered her above every woman, how then do you discover years into the marriage that you love another? Especially after having kids. You probably have seen a slimmer woman or a pretty face or a sexy woman and concluded that you now have a new love. The desire for something new is not usually love but an attraction which can be classified as lust or infatuation. Any time you put your new flame above your children, then you know that you are deep in lust. Sex is an integra...
Post a Comment
Read more