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Nairaland Forum / Nairaland / General / Business / Buying Local Will Not Save The Naira. (468 Views)
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Buying Local Will Not Save The Naira. by lawani: 9:25am On Feb 22, 2016 |
If you buy local and even do more than that, the value of the naira will still fall against the dollar if your government is depending on a dwindling dollar revenue instead of Naira from the economy. All nations who depend on oil dollars have devalued their currency to raise more money and that is what is happening in Nigeria. To stop that trend, then your government's revenue must be from taxes in the local currency. So, buying local will not save the Naira, neither will it save the Russian, Venezuela or Saudi Arabian currency. Anything other than your government depending on tax revenue from your economy in your own currency will amount to a futile effort because the government will not stand for it. They are for the dollar. |
Re: Buying Local Will Not Save The Naira. by psucc(m): 9:31am On Feb 22, 2016 |
When people shout #buynigeria, I wonder what we buy. What do we actually produce? who is producing? what quantity are we producing? I don't understand the hypocrisy. 1 Like |
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