Nigeria's economy is bleeding profusely. The bleeding didn’t start recently. It started in trickles many years ago when the knowledge of Nigerian economic managers was relatively low and resources were sufficiently in abundance to overwhelm the avoidable leakages.
Nigeria's economy is bleeding profusely. The bleeding didn’t start recently. It started in trickles many years ago when the knowledge of Nigerian economic managers was relatively low and resources were sufficiently in abundance to overwhelm the avoidable leakages.Nigeria’s economy is bleeding profusely. The bleeding didn’t start recently.
Prior to this, what matters to notable countries of the world, were the production systems and their associated infrastructure that provide employment and ensure buoyancy in domestic and international trade. Two major economic policies in recent months, which were meant to frontally tackle endemic corruption and fiscal imbalances, have resulted in aggravated haemorrhage of the Nigerian economy. There is unprecedented suffering in the land.
I respect colleagues who have advocated for allowing the value of the naira to be determined by the market. The World Bank and International Monetary Fund have also made market determined naira value a major component of their policy advice to Nigeria over the years. Nigeria has been unable to overcome the tendency to weaken the naira and Nigeria’s economic managers appear to be captive to the axiom that a weak naira and market-determined value of naira will do a superlative re-ordering of the economy for good. This is very wrong. There is an urgent need to tackle naira depreciation to save Nigeria from bleeding to death.
The Federal Government has rolled out plans to investigate 107 private universities in Nigeria for allegedly issuing fake degrees. The government's investigation is prompted by a journalist, Umar Audu's findings of fake certificates sold in the Republic of Benin and Togo. The Nigerian government is now reportedly seeking public input to assess the facilities of…
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hardship: Appoint women into economic team to save Nigeria from disasterThe apex Igbo socio-cultural organization, Ohanaeze Ndigbo, has issued a wake-up call to President Bola Tinubu to appoint a woman to spearhead the nation's economic revival. Ohanaeze said a globally experienced Nigerian female economist can steer Nigeria away from the brink of disaster.
Read more »
Article of Faith: The God who kills before He makes alive, By Femi AribisalaPremium Times - Nigeria'bs leading online newspaper, delivering breaking news and deep investigative reports from Nigeria
Read more »
EXCLUSIVE: Top Nigeria Customs officers enmeshed in multi-billion naira corruption scandalSome of the Customs officials were arrested and detained and some of them have returned money to the EFCC.
Read more »
Media articles whitewash top Nigeria Customs official indicted in multi-billion naira scandalThe official is one of the seven Nigerian Customs Service (NCS) officials arrested and detained for allegedly accepting N12 billion bribes from smugglers who are still walking freely.
Read more »
Binance to Discontinue Services for Nigeria's Naira Amid Regulatory ConflictBinance will no longer offer services for Nigeria's fiat currency, the naira, due to regulatory issues. Naira balances will be automatically converted to USDT, and support for NGN deposits and withdrawals will be discontinued. Spot trading pairs against the naira will be delisted, and other Binance services will also stop supporting the naira.
Read more »
EXCLUSIVE: Top Nigeria Customs officers enmeshed in multi-billion naira corruption scandalFood security: The Bago challenge, By Dakuku Peterside
Read more »