It is no longer new to everyone about the situation in this country Naija, everyone here knows what I'm talking about. The cost of living is no longer funny because there has been increase in a high rate of inflation, the basic things are difficult to have due to many factors that have made our own currency to be valueless and not worthy of standing against other currencies, the new policies are not favourable to every man that lives in a country called Nigeria.
The problem we have can be handled within a week if really the masses work together to achieve it but I'm the mist of difficulty and hardship some are still benefiting from it very well while others suffered for it. So it is very difficult to fight such battle. The ones are benefiting are few but they still use the ones that are suffering to fight themselves by giving them peanut to eat just to have strength to fight. The currency problem in Nigeria is caused by the president because he obey the external forces to devalue the naira and thinking things will be okay in the country but opposite is the result always. One country can not do alone but a joint force by all the Africans countries can fight and stop this. And that is not possible because some countries are dancing the music from the colonial masters and Nigeria is the number one country. Mass Revolution is the answer to the problem in e and Africa.
This country na our own, we don't have any other than this and it is our responsibility to make it greater and better for everyone to live without thinking of relocation, we have abundant resources but it is not working and this is because of the measurement Nigeria government has chosen, they are not just a measurement but temporal ones that wouldn't last long and as a result, the hardship continue every time we have a new government.
But we cannot do anything to stop the ill-treated country of Nigeria. Even the bountiful resources we have are indirectly control from the outside through the Northern Oligarchs. So the National Resources are not meant for the owners but the foreigns. And Foreigners within the foreign land.
Naira is the only currency we have and we must defend it in order for it to be suitable for the people who respect and value it, instead of using temporal measurements that do not work or work but later fail in the future, we need to focus more on the basic permanent solutions to fix the Naira which is:
There is nothing we can do to revive the currency because we are not among or in the parliament of policy making. If you try to improve the living quality of the people and increase the value of the naira, you won't love to tell the story. As you can see bitcoin came to edify Nigeria economy but the policy makers rejected it and jail it.
1. Increase in Exportation and Reduce Importation: Any country that depends more on importation with low exportation will suffer and that is exactly what is happening with the Naira currency. The people need the US dollar to settle for goods as it's a general currency accepted worldwide but the situation of Nigeria is different because we have few available forex(foreign exchange) and the demand is high with low supply which is limited. Since they can get dollars, they go for the parallel market known as the black market to get dollars at high prices making our currency useless, this is the effect of high dependency on importation. Our exportation is low, we don't have many industries that produce goods for exportation and with this, there is low forex that is coming to Nigeria with low revenue for the government.
This is the most difficult part of the economic development in Africa. And no African president can stop that. 2023 General Election in Nigeria was sponsored heavily by foreign countries. Obi was sponsored by and Asia country so that after the election and if Obi won they would take Nigeria as the dumping ground of their products. Atiku was sponsored by a European countries with the same ambition and Tinubu was sponsored Heavily by four world powers so stop importation is not possible unless a determine Government to develop the country.
2. Increase Farming: Despite how other countries are rich with other mineral resources, they never abandoned farming instead they mechanized it, and improved their seeds and animals to high breeds, and that is how their life became easier, they depend on other countries for food, instead countries depend on them and this makes their currency stronger because need their currency to buy their goods.
Nigeria can never produce a very large quantities of food items in the country. Oya listen carefully. Benue was producing enough foods in Nigeria and Nigerian could not finished the product in the country so they make some export to supply other African countries and when the world powers discovered that Nigeria is about to do well in the continent, they sponsored bandits and herdsmen to invade farmers to destroy the farm products to reduce the production of food items so that we will buy things from foreign countries.
3. Maintain a standard price for local produce goods: In this country, we are the enemy of each other; there was a time when the past president Buhari banned 32 items that are mostly imported to Nigeria which he felt we could produce in this country like Rice, Chicken, cocoa butter, Noodles and many more because we can do produce this locally to standard level and all boarders were closed in other to reduced importation and increase exportation. However, instead of local food products to be cheap, they increased the price to meet the price of foreign rice that are been imported to Nigeria and other places, this is because the regulation doesn't work and Nigerians like to take advantage of a small opportunity, this affected the value of Naira, the value depreciates with such fraud.
Dollar is the determiner of food prices in Nigeria so they also want the naira to be devalued at all time. So if you are selling fish from the river, you have to sell it high to meet up the demands of the material things from foreign countries. And such as phone, foam, electronics clothes etc.
4. Reduce asking for loans: If there is anything the Nigerian government loves, is always asking for loans. The Nigeria government have a shortage of forex and when they take a loan, they are been paid in dollars to finance projects in Nigeria, some are been done while many are pocketed by corrupt politicians, and when it is time to pay back this loan, it becomes a big problem because they don't have forex to pay back the loan and the lenders would never accept Naira because it's not strong and not recognized for international trades.
That is a business from the world bank and IMF so you can't stop that. Whether your country Government like it or not, he must collect loan from those institutions.
5. Improve the standard of living and provide good education: Japa syndrome is a new word, literally every youth you see today want to leave the country and go search for greener pasture on the other side of the world because the economy hardship is unbearable, they want to live and when they have the means to live, they sell every property they have to have access to USD, and this is killing the Naira while appreciating the USD against our currency because they need dollar and other currency to travel out.
Good education is another factor that makes people leave the country, students don't want to study in Nigeria because of the difficulty in having early education, yearly strike, poor educational facility, and poor research and development. These are the reasons why student travels abroad to have a good life for their education and this affect the forex market of Nigeria due to the low dollars that we have in Nigeria.
These are the basic things that the Nigerian government need to fix, if they work on this, other factors will adjust to normal because these are the basics which have been poor in the country. If we need our currency to improve against other currencies, we need to fix these problems.
There are even happy in the way Nigerian education system is. The WEST does not want the African countries to develop so they are not interested to sell things that will make the educational system function well. Look at NEPA in Nigeria. They are still using the old way of collating Data and connecting electricity and collecting money. It is very much ashamed of them. Look at solar system, they can off it from their office if you didn't not pay that week and you will not have light I'm your house. That is innovation. I have plenty things to tok bt make I stop am here.
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