Both African nations bear presidents who are accidents, so-to-say; victims of the fortune of death to their bosses. Goodluck Jonathan of Nigeria inherited the office when his predecessor, Umaru Musa Yar’Adua, passed away in 2010. In like manner, John Dramani Mahama inherited the top job when Atta Mills, a national favorite, passed in 2012. The two leaders have failed to win the hearts and respect of the people and would possibly never have occupied the seats had processes gone on naturally, as such personalities would not likely ever have been chosen candidates of any party. Nigeria devalued its currency to try to adjust to the financial catastrophe. The Ghana cedi under mismanagement faired as the worst currency in Africa this 2014, dropping 26% in value. The country is depending on an IMF bailout to save it from the impending recession courtesy of the drop in oil prices. The nation can simply not balance its budget and as is the routine, it is being governed by colonial powers by proxy due to its loan dependence, who are dictating what it needs to do to President Mahama. The drop in oil prices globally have led to reductions in pump prices by to a $1/gallon in nations across the world; the same should have been the case in Nigeria and Ghana, both refined petroleum product importers, however the Mahama government has kept the price steady because it is taxing the people an extra $0.60+ per gallon at the pump to balance its budgets. There has likewise been no reduction in pump price in Nigeria as the Goodluck Jonathan government is also illegally draining this excess in indirect tax from the citizens to help balance its budget. Both Ghanaian and Nigerian governments are quietly trying to save face as best they can to sprint passed the upcoming elections before their people realize the colossally disastrous situation they are in subsequent to lack of foresight, chronic corruption and stagnant-regressive economic development. It is going to be tough in Nigeria and Ghana. If it was tough before, then hold on to your seat belts, because the ride is only just getting bumpy.
Posted on: Mon, 15 Dec 2014 21:20:55 +0000
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