4 Comments

  1. Simisola

    I love your article. The fact that the naira keeps depreciating against international currencies honestly worries me. I am a graduate of Economics and I also feel that having too much money in circulation also affects the exchange rate negatively. Politicians amass wealth and where does it go? Into the economy. Too few people are chasing too much money and this puts pressure on the money demand. Inflation has eaten raw into the Nigerian economy. Imagine having a currency of 1000 Naira ??? It’s disheartening. In the UK, the highest denomination the ATM gives is 20 pounds. We do not need a 1000 naira note or even a 500 naira note because this just devalues the currency the more. Sellers use it as an opportunity to overprice goods. In Lagos, earning a salary of 150,000 naira is not even enough any longer. This shows the extent to which the naira has lost its value.
    The CBN needs to wake up.If they try to tell me they employ economists in that organization, then they must be joking because they clearly do not have their work cut out for them. May the Lord help Nigeria and Buhari because time is fast going and Nigerians need results. I need results. Thank you.

  2. Fred

    I smiled when I saw N250 to a dollar in your article. Little did you know that few months after writing this article the rate will eventually peak at nearly N400 to the dollar. To borrow your words, “We are not talking about the British Pounds here, the United States Dollar.” LOL

    • Eseosa Aigbogun

      Thanks Fred, I became speechless as the Naira further deeped to 400 and we have come to accept 300 to 320. We all have to play our parts to defend our currency. Thanks for your comment, once again.

      • Shittu opeyemi

        U saw it coming Engr…. U have said it all
        “So what we need to do to impact the lives of our citizens is real economic activities. Real economic activities doesn’t just involve factories to process vegetable oil from groundnut, or to mould plastic toys but it also involve the art and design that goes into these activities. We could literally mint earnings from our creative industry.”
        I pity the future of this country if things continue this way… So help us God

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