Skip to main content

HAPPY INDEPENDENCE ANNIVERSARY TO NIGERIA AND NIGERIANS AND A TAKE ON THE ECONOMY

Hello everyone,
let me start by congratulating Nigerians on this 56th independence anniversary. We have come a long way whether we choose to believe it or not. Nigerians might think there is not much to celebrate especially with the state of things in the country i.e the recession, inflation, unemployment, Biafra agitations, Fulani herdsmen killings etc. But we still have a lot to celebrate.

On the state of the economy, I would like to shift my stand. Yes, a wise man changes his mind sometimes. I believe a devaluation of the naira is possible at this time to curb the excesses of foreign exchange speculators and to check the mad swing of the naira against the dollar, having tried all other avenues to stabilize the naira without it working.
A possible devaluation would end the hoarding in the system, boost Investors confidence as so many people are willing to invest, they just need to see a plan from the federal government.

It could also take us out of recession as it would be easier for the government to borrow money to finance the budget  as former president Olusegun Obasanjo has advised. The minister of finance having said countries were willing to lend us, they just need us to fix our exchange rate first.

Finally, I think the economic team should borrow a leaf from the ministry of petroleum resources on how they deregulated the downstream sector despite protests from the Nigerian citizenry. Today we buy fuel at N145 to a litre and we are not suffering fuel scarcity again. In fact cost of transportation has remained the same. Thanks to the deregulation, we can do the same with our forex market by way of devaluing the naira. And lets see if it will not take us out of the woods.

PHOTOCREDIT:INTERNET

Comments

Post a Comment

Popular posts from this blog

FREE LEAH SHARIBU!

My heart bleeds as I write this. I'm literally weeping as I pen this down but I know that there is hope. The existence of God tells me so. It's been over a year since this girl was abducted alongside her school mates but while others were freed, Leah Sharibu remains in custody for refusing to denounce her faith and convert forcefully to Islam, the religion of the dreaded boko haram sect. What bothers me is the silence of the Muslim community and powerful leaders across the world on this matter. What I don't understand is why people cannot call a spade a spade. Why cannot they come out to speak out against mindless religious radicalism , oppression and persecution of Christians all over the world? What efforts have been made to free Leah Sharibu and others like her still in captivity? How long will this continue?  I think it's a decision world leaders need to make on the benefits of Islam to mankind. Honestly speaking,  world over the only people guilty of terroism are...
Post a Comment
Read more

THE FIGHT AGAINST CORRUPTION IN THIS GOVERNMENT: REAL OR SELECTIVE

President Muhammadu Buhari's selling point coming into the 2015 general elections was his would-be fight against corruption which many Nigerians said was Nigeria's biggest problem and which the international community also said was Nigeria's bane of development. His reelection in 2019 also echoed the same thing although many Nigerians were of course saying they had seen his true colours. In this government's fight against corruption, so much has been witnessed. There have been several convictions of high profile politicians but only people not at the core of the government or those who do not share the same religion with the president. Many embarrassing cases have been swept under the carpet like those of the former secretary to the government of the federation, the reinclusion of a wanted former government official (who was answering for his crimes as ex pensions boss) in this government,  most recently the appointment of a former politician who was tried in court for...
Post a Comment
Read more

WAR ROOM

A beautiful movie showing us the love of God and His ever standing faithfulness to His children. Elizabeth and Tony Jordan were two  successful people who were religious but hadn't known what it was like for God to minister unto them. They had a big house, nice jobs, with Tony as a pharmaceutical salesman and Elizabeth as a realtor. They  had a daughter called Danielle. Despite the wealthy lifestyle, Tony was cold towards his family. He refused to give money to his wife's sister and was verbally abusive towards her. He treated Danielle no less than a property gotten from one  of his illegal deals.
Post a Comment
Read more