Implications of the drop dead Devaluation of the naira:::: Increase in the price of commodities, increase in lending rates by the commercial banks, double digit inflation as never witnessed in Nigerian history, further deterioration of the naira to the dollar, decrease in the value of our external reserves as opposed to the increase in our external debts without a commensurate increase in oil revenue, e.t.c. Civil and political unrest still on the upsurge. IS THIS REALLY THE WAY OUT?????? I opine and in my little experience of Developmental economics and Banking, unless something drastic and divine ( like Rapture) happens to correct this anomaly, and without sentiments or bias, and in all sincerity, our Leaders (as was done in the SAPs of 1987) have just mortgaged our future and that of our generations all in the name of Dracula and proactive measures) hence the need to diversify our income streams, divest current investments, invest in real estates and not wasting assets, reduce excessive spending on frivolities in fact JUST THINK WITH AND OUTSIDE THE BOX of Nigeria to safeguard your future and that of your unborn generations. Dont say I didnt warn you. excerpts from page 42 of my writings on Devaluation in Nigeria: Blessing or Curse in disguise.
Posted on: Thu, 27 Nov 2014 03:27:57 +0000
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