[b] ECONOMIC COLLAPSE :

   Economic collapse is characterized by social chaos, social unrest, bankruptcies, reduced trade volumes, currency volatility, and breakdown of law and order. This regrettably has become the recent predicament  of Nigeria. The everyday  shocking stories of fulani - herdsmen,kidnappings,banditry ,ipob, and the call for secession are all signs we are losing control.  We can clearly see the Law of Cause and Effect playing out . Were  corruption and incompetent governance  be the CAUSE  and economic meltdown be the EFFECT.

  . “We cannot solve our problems with the same thinking we used when we created them.” – Albert Einstein.
   

       Oil represents more than 80% of Nigeria’s exports, 30% of its banking-sector credit, and 50% of the overall government revenue.  With drop in oil prices government revenue are expected to fall, coupled with covid-19 pandemic it is expected to plunge  {mark my words}  into severe Economic recession.
    *They say heavy lies the head that wears A crown * Now is not the best of times for MR President .  It is times like these that we evaluate the skills and quality of our leaders  .
    They have to be  confident and steady under pressure . -Never forget that no military leader or politician  has ever become great without audacity.   “Courage is FEAR  holding on a minute longer.”  
   A true leader has the confidence to stand alone, the courage to make tough decisions, and the compassion to listen to the needs of others.” “Leadership is solving problems.
   Our greatest glory is not in never falling, but in rising every time we fall.
  People want leadership and in the absence of leadership they will  listen to whoever steps up to the microphone -

  The  ECOWAS -Economic Community of West African States comprises of 15 member States namely  ;  Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, and Togo, Benin, Burkina Faso, Cabo Verde, Cote d'Ivoire, The Gambia,
    The ECOWAS Executive Secretariat is now located in Abuja, the capital of Nigeria. All ecowas member States have reached an agreement to unify and replicate the economic  maneuver played by the European union in creating the EURO in adopting a single currency  named   "ECO". A monetary union with a single currency for the 15 member states.
 
   Countries will receive many benefits for adopting the ECO as it will allow these weaker countries to enjoy lower interest rates. The  EcO wont be risky to investors as a currency with less demand from users and traders. A stable currency regime protected from manipulation  Which translates into more foreign investment, which will  boost the economies of smaller nations'
--  When more ecowas member states opt to use the ECO   it's  value grows.    -depending on how traders assess the risk vs  the reward for holding the currency.

-- The ECO Will also help remove trade and monetary barriers, reduce transaction costs, boost economic activity and raise the living standards of our people.

- The " ECO"  would achieve a stable exchange rate against the dollar $ , euro € and the pound Sterling  £ , which would inturn revive and stimulate  the economies of all member states .
   The Libyan Dinar has been the strongest currency in Africa -  Libyan Dinar (1 USD = LD 1.31):  . The ECO promises to reach that benchmark as the Libiyan Dinar stands as proof  that African economies can stand strong against the Dollar and be an economic force to be reckoned with.
     If all ECOWAS member states can adopt the ecowas passport and record tremendous success then the  " ECO " is sure to be a success  too.  If the EUROPEAN UNION and it's member states are reaping the rewards and benefits of the euro , I think the ECOWAS Can reciprocate the same .
 

    With all the alluring and tantalizing benefits that come with the "ECO "  why haven't ecowas member countries hurriedly adopted and implemented it. 
    Well !    it's better to measure 10 times and cut once than measure once and cut ten times .         " It is a double edge sword "  --
 
some of this countries are reluctant to give up their monetary policy meaning they would lose the ability to print thier own money: and that ability allows them to control interest rates , inflation and money supply . 
- member countries that adopt the ECO must adhere to strict guidelines and policies relating  to their debt-to-GDP ratio - gross domestic product and lastly but not least their annual budget deficit
- single currencies -- when badly implemented can have a catastrophic economic impact which has left member countries to be sceptical about it's benefits.
  
There is also many  legal, structural and political constraints affecting the implementation of a single currency such as differences in National Laws, Inadequate Infrastructure, political Instability e.t.c. and also recommended  solutions to these constraints.
    

Eventhough there are numerous obstacle's and hurdles in achieving a single currency for west africa  - Giving up is the most painful way of solving a problem .The ECO  has been shaped by a vision of a united Africa and  would also serve as a viable tool to fight Inflation , Currency and Exchange rate manipulation . I believe the ECO Will be the cornerstone in building a solid monetary policy for westafrica .   

    IN MY opinion   African unity through the AFRICAN UNION  & THE ECOWAS has proven to be  a step in the right direction - A  way forward and a solution to WestAfrica's economic problems ,to lift westafrica from an impoverished region  facing hunger ,war ,disease, famine and economic decay to a prosperous economic and politically  stable region of Africa . And this will inturn position NIGERIA  to take her seat as an  economic Giant in west africa . We cannot be separated in interest or divided in purpose - For the strength of the Pack is the Wolf, and the strength of the Wolf is the Pack.
   The ECO is a welcomed development  and should be supported  and applauded by all ECOWAS member countries .
    With all the abundance of natural and human resources in Africa   -Economic Boom*  should be our target  , i believe with the right policies and competent  leaders to implement them the dream of  a better tomorrow will and can  be achieved.
    Kudos to . Mr. Lansana Kouyate who is the current Executive Secretary of THE ECOWAS  for putting the gears in motion To realize a Greater  and UNITED WESTAFRICA .


{  https://edition.cnn.com/2019/07/01/africa/single-trade-currency-ecowas/index.html  }.

I think its good, am just thinking how the existing currency will be collapse without dare consequences


Nice for Nigerians


When biafra comes we go back to our pounda

nuttyprofessor:
[b] ECONOMIC COLLAPSE :

   Economic collapse is characterized by social chaos, social unrest, bankruptcies, reduced trade volumes, currency volatility, and breakdown of law and order. This regrettably has become the recent predicament  of Nigeria. The everyday  shocking stories of fulani - herdsmen,kidnappings,banditry ,ipob, and the call for secession are all signs we are losing control.  We can clearly see the Law of Cause and Effect playing out . Were  corruption and incompetent governance  be the CAUSE  and economic meltdown be the EFFECT.

  . “We cannot solve our problems with the same thinking we used when we created them.” – Albert Einstein.
   

       Oil represents more than 80% of Nigeria’s exports, 30% of its banking-sector credit, and 50% of the overall government revenue.  With drop in oil prices government revenue are expected to fall, coupled with covid-19 pandemic it is expected to plunge  {mark my words}  into severe Economic recession.
    *They say heavy lies the head that wears A crown * Now is not the best of times for MR President .  It is times like these that we evaluate the skills and quality of our leaders  .
    They have to be  confident and steady under pressure . -Never forget that no military leader or politician  has ever become great without audacity.   “Courage is FEAR  holding on a minute longer.”  
   A true leader has the confidence to stand alone, the courage to make tough decisions, and the compassion to listen to the needs of others.” “Leadership is solving problems.
   Our greatest glory is not in never falling, but in rising every time we fall.
  People want leadership and in the absence of leadership they will  listen to whoever steps up to the microphone -

  The  ECOWAS -Economic Community of West African States comprises of 15 member States namely  ;  Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, and Togo, Benin, Burkina Faso, Cabo Verde, Cote d'Ivoire, The Gambia,
    The ECOWAS Executive Secretariat is now located in Abuja, the capital of Nigeria. All ecowas member States have reached an agreement to unify and replicate the economic  maneuver played by the European union in creating the EURO in adopting a single currency  named   "ECO". A monetary union with a single currency for the 15 member states.
 
   Countries will receive many benefits for adopting the ECO as it will allow these weaker countries to enjoy lower interest rates. The  EcO wont be risky to investors as a currency with less demand from users and traders. A stable currency regime protected from manipulation  Which translates into more foreign investment, which will  boost the economies of smaller nations'
--  When more ecowas member states opt to use the ECO   it's  value grows.    -depending on how traders assess the risk vs  the reward for holding the currency.

-- The ECO Will also help remove trade and monetary barriers, reduce transaction costs, boost economic activity and raise the living standards of our people.

- The " ECO"  would achieve a stable exchange rate against the dollar $ , euro € and the pound Sterling  £ , which would inturn revive and stimulate  the economies of all member states .
   The Libyan Dinar has been the strongest currency in Africa -  Libyan Dinar (1 USD = LD 1.31):  . The ECO promises to reach that benchmark as the Libiyan Dinar stands as proof  that African economies can stand strong against the Dollar and be an economic force to be reckoned with.
     If all ECOWAS member states can adopt the ecowas passport and record tremendous success then the  " ECO " is sure to be a success  too.  If the EUROPEAN UNION and it's member states are reaping the rewards and benefits of the euro , I think the ECOWAS Can reciprocate the same .
 

    With all the alluring and tantalizing benefits that come with the "ECO "  why haven't ecowas member countries hurriedly adopted and implemented it. 
    Well !    it's better to measure 10 times and cut once than measure once and cut ten times .         " It is a double edge sword "  --
 
some of this countries are reluctant to give up their monetary policy meaning they would lose the ability to print thier own money: and that ability allows them to control interest rates , inflation and money supply . 
- member countries that adopt the ECO must adhere to strict guidelines and policies relating  to their debt-to-GDP ratio - gross domestic product and lastly but not least their annual budget deficit
- single currencies -- when badly implemented can have a catastrophic economic impact which has left member countries to be sceptical about it's benefits.
  
There is also many  legal, structural and political constraints affecting the implementation of a single currency such as differences in National Laws, Inadequate Infrastructure, political Instability e.t.c. and also recommended  solutions to these constraints.
    

Eventhough there are numerous obstacle's and hurdles in achieving a single currency for west africa  - Giving up is the most painful way of solving a problem .The ECO  has been shaped by a vision of a united Africa and  would also serve as a viable tool to fight Inflation , Currency and Exchange rate manipulation . I believe the ECO Will be the cornerstone in building a solid monetary policy for westafrica .   

    IN MY opinion   African unity through the AFRICAN UNION  & THE ECOWAS has proven to be  a step in the right direction - A  way forward and a solution to WestAfrica's economic problems ,to lift westafrica from an impoverished region  facing hunger ,war ,disease, famine and economic decay to a prosperous economic and politically  stable region of Africa . And this will inturn position NIGERIA  to take her seat as an  economic Giant in west africa . We cannot be separated in interest or divided in purpose - For the strength of the Pack is the Wolf, and the strength of the Wolf is the Pack.
   The ECO is a welcomed development  and should be supported  and applauded by all ECOWAS member countries .
    With all the abundance of natural and human resources in Africa   -Economic Boom*  should be our target  , i believe with the right policies and competent  leaders to implement them the dream of  a better tomorrow will and can  be achieved.
    Kudos to . Mr. Lansana Kouyate who is the current Executive Secretary of THE ECOWAS  for putting the gears in motion To realize a Greater  and UNITED WESTAFRICA .


{  https://edition.cnn.com/2019/07/01/africa/single-trade-currency-ecowas/index.html  }.

I totally agree with this school of thoughts...