I just wanted to say my bit about the Nigerian currency – the Naira.
The latest excuse for going south of the Naira is the crypto market!
Really?
So, what is the result Nigeria is getting in International Trade?
I mean what is the worth of our imports compared to exports?
Are we not spending the scarce foreign exchange on unnecessary items? For instance, when our legislators were buying their SUVs, dfid they not leave Innosons – a local motor assembly plant – to import their luxury vehicles?
I think we have reached the stage where we should be controlling what we import. And I believe it should start from the top.
For instance, I want to see Nigeria importing those things that are necessary for agricultural purposes, health, and other vital things. All others should wait till the economy gets better.
We should then feed ourselves and send some to our people outside the shores of Nigeria. Of course, it’s for the foreign exchange.
Let’s look at the vast supply of mineral; resources we have. We should add value to them and export finishedproducts.
I believe that’s the way to go.
