NIGERIA:
NIGERIA'S ECONOMY TURNS PERIL AS INVESTORS HEAD FOR THE EXIT
KEMI ADEOSUN Finance Minister
To some, it was a shocking news, but to many it was long expected. To those who saw it as a surprise, one Nigeria syndrome may probably have blindfolded them or maybe it was as a result of their selfish interest in Nigeria. Many of those who expected this were those who had genuine concerns for the suffering masses.
Nigeria's economy is now in jeopardy as many foreign investors have lost faith in her leaders. The corporate tribulations that began with a slide in oil prices and accelerated after the imposition of capital controls are also entangled in a global emerging-market slump. In propping up the Naira, in a futile bid to contain inflation, officials have jacked up pressure on an economy running out of cash, deepening a black market in currency trading and causing shortages of imported goods from fuel to milk.
U.S. officials said they will press their Nigerian counterparts to change tact during talks in Washington this week.
It will be recalled that in one of his broadcasts, the leader of the Indigenous People of Biafra and the director of Radio Biafra - Mazi Nnamdi Kanu, said it categorically, that Nigeria's economy will become messy and useless. That prophecy is now in fulfillment as investors are now moving elsewhere to invest and make a good profit.
The message to Nigeria and its leaders is simple and clear, let Biafrans go and control their destinies by themselves. Biblically, King Pharaoh of Egypt received a similar message thousands of years ago but chose to ignore it, but all Bible scholars are aware of the consequences of such adamancy. Experience, they say is the best teacher, but, Nigeria and her leaders should not allow themselves be to be thought by such an ugly experience, as some experiences are simply not worth being encountered.
It's crystal clear that what is currently happening to Nigeria now is a divine punishment and if not quickly checked, will lead to a more catastrophic destruction. When Egypt was experiencing similar scenario, did they really realize their plagues was from God? NO. Their leadership obstinately and stubbornly refused to allow God's people to go. Nigeria is almost at that point now. And they must receive the last plague before letting God's people go.
Buhari, the illiterate head of state has been globe trotting all around the world in a bid to woo investors to his country. Does anyone bet his money on a dead horse to win a race? How does he in his wildest imagination think that foreign investors will invest in a country whose leaders do not obey common court orders? Where is their protection in case of any litigation over their rights or governmental infringement on their rights?
How does any foreign investor look towards investing in Nigeria when Nigeria produces ZERO megawatts of electricity and imports all her petroleum products? Does Buhari the illiterate, think that foreign investors are daft to invest in a Nigerian economy, whose currency dropped from N150 to N390 to the dollar in less than 8 months? Buhari can fly to the moon, but he can be sure that not even UFOs are interested in coming even to colonize Nigeria, let alone invest. Nigeria is finished.
No wonder even the companies who are here during the previous administration have packed up. Next time when Obama and David Cameron suggests a leader to Nigerians, [ie, Arewa and Oduduwa, Biafra not inclussive] they will think twice before accepting him.
By Jephta Onyedikachi
Edited By KeneChukwu HalleluYah Okekenta
Published By Ikechukwu Nwaorisa
FOR BIAFRA WRITERS
NIGERIA'S ECONOMY TURNS PERIL AS INVESTORS HEAD FOR THE EXIT
KEMI ADEOSUN Finance Minister
To some, it was a shocking news, but to many it was long expected. To those who saw it as a surprise, one Nigeria syndrome may probably have blindfolded them or maybe it was as a result of their selfish interest in Nigeria. Many of those who expected this were those who had genuine concerns for the suffering masses.
Nigeria's economy is now in jeopardy as many foreign investors have lost faith in her leaders. The corporate tribulations that began with a slide in oil prices and accelerated after the imposition of capital controls are also entangled in a global emerging-market slump. In propping up the Naira, in a futile bid to contain inflation, officials have jacked up pressure on an economy running out of cash, deepening a black market in currency trading and causing shortages of imported goods from fuel to milk.
U.S. officials said they will press their Nigerian counterparts to change tact during talks in Washington this week.
It will be recalled that in one of his broadcasts, the leader of the Indigenous People of Biafra and the director of Radio Biafra - Mazi Nnamdi Kanu, said it categorically, that Nigeria's economy will become messy and useless. That prophecy is now in fulfillment as investors are now moving elsewhere to invest and make a good profit.
The message to Nigeria and its leaders is simple and clear, let Biafrans go and control their destinies by themselves. Biblically, King Pharaoh of Egypt received a similar message thousands of years ago but chose to ignore it, but all Bible scholars are aware of the consequences of such adamancy. Experience, they say is the best teacher, but, Nigeria and her leaders should not allow themselves be to be thought by such an ugly experience, as some experiences are simply not worth being encountered.
It's crystal clear that what is currently happening to Nigeria now is a divine punishment and if not quickly checked, will lead to a more catastrophic destruction. When Egypt was experiencing similar scenario, did they really realize their plagues was from God? NO. Their leadership obstinately and stubbornly refused to allow God's people to go. Nigeria is almost at that point now. And they must receive the last plague before letting God's people go.
Buhari, the illiterate head of state has been globe trotting all around the world in a bid to woo investors to his country. Does anyone bet his money on a dead horse to win a race? How does he in his wildest imagination think that foreign investors will invest in a country whose leaders do not obey common court orders? Where is their protection in case of any litigation over their rights or governmental infringement on their rights?
How does any foreign investor look towards investing in Nigeria when Nigeria produces ZERO megawatts of electricity and imports all her petroleum products? Does Buhari the illiterate, think that foreign investors are daft to invest in a Nigerian economy, whose currency dropped from N150 to N390 to the dollar in less than 8 months? Buhari can fly to the moon, but he can be sure that not even UFOs are interested in coming even to colonize Nigeria, let alone invest. Nigeria is finished.
No wonder even the companies who are here during the previous administration have packed up. Next time when Obama and David Cameron suggests a leader to Nigerians, [ie, Arewa and Oduduwa, Biafra not inclussive] they will think twice before accepting him.
By Jephta Onyedikachi
Edited By KeneChukwu HalleluYah Okekenta
Published By Ikechukwu Nwaorisa
FOR BIAFRA WRITERS
No comments
Post a Comment
Note: only a member of this blog may post a comment.