Just like you did, I would have voted for the ruling party in last year’s general elections but I was unintentionally caught in the middle as an umpire as service to my father’s land. Why did I have to use that as a point of entry? So that you will not point to me as a “wailing wailer” or whatever you call those government critics. Having said that, I have heard and read the continuous reassurances of Mr President that he will not ‘kill the Naira” by devaluing it, but what Mr president is not telling Nigerians is that the Naira is already devalued or should I say lost it value. Wait o, may be our messiah (at least that was what we believed pre-election) is not even aware of that technically and theoretically. The CBN and the Ministry of Finance does not have to make a pronouncement pegging the Naira to a certain value as they have done so intently without intimating majority of Nigerians. What they actually did was to peg it a value and go on to sell for individuals who will sell at 60% of the value, I mean who does that!

In France last September, the president said “I do not think it is healthy for us to get the Naira devalued. The Central Bank is providing ample foreign exchange to essential services and industries. I think what the president should have said is that the ample foreign exchange services is being provided to certain individuals who are seriously profiting on the hardship of the majority. Before I forget, someone should tell the presidency that the majority they intended to protect are heavily at the receiving end of the struggle. Imagine that some individuals are getting richer and we are all paying for their wealth and making them very rich. They are buying the dollar from the CBN and making close to N200 for every dollar bought. The government have good plans and intentions even though the present issue of the 2016 budget might have put majority of us in doubt but they are good government who found themselves at a wrong point in the history of our country. They are not the one who emptied our foreign reserves and also let some thieves eat our yams when it was really booming but we thought they are prepared for that sharp decline in the financial fitness of our economy.

But let’s look at the bright side of the situation right now, it’s time to lock down the economy on the luxury importation angle and start patronizing the made in Nigeria products, lets join the crusade led by the common sense senator Ben Bruce. Replace that love for imported oats with pap (you can always add pure honey and Fulani’s Nunu), replace the Ferraris and Bentley with cars from Innoson and ANNAMCO. What I’m trying to preach here is that lets leave the luxury goods for those few individual that can afford it. I think the Federal government can actually do these from an economic angle by increasing the tax on the few items that cannot be totally banned for importation, which will definitely scare us away from these products. Almost everything we are importing into Nigeria have a very good alternative as replacement. Time to look inward as a nation and buy our own before inflation sets in.

Well said.

The naira is already devalued, either the CBN official rate changes or not. The value of our naira has gone down.

Nice points. Time to encourage local production

whizqueen:
Well said.

The naira is already devalued, either the CBN official rate changes or not. The value of our naira has gone down.

Nice points. Time to encourage local production

Yes dearie. Hope you are undeterred by the current imbroglio

segxes23:


Yes dearie. Hope you are undeterred by the current imbroglio

I doubt if there's no one affected. Even those that produces locally gets imports part of their raw materials. Even if they source dollar from CBN, freight would be another issue.

I hope things get well soon