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| Nigeria: a country 'GALLANTLY' grinding to a halt |
Every economic and political indices out there point to one thing - Nigeria is dying!
The country that once prided herself as the "giant of Africa" is grinding to a halt. Frighteningly, only a few section of her teeming population seemed to have realised this.
Nigeria's journey to demise started the moment Nigerians allegedly voted General Muhammadu Buhari a stark illiterate who never obtained a secondarily certificate into office.
Buhari expectedly has turned governance upside down - what do you expect?
A clear demonstration of Buhari's misgovernance and Nigeria's ultimate journey to oblivion is the rapid fall of her currency, the naira. In May 2015, the US dollar was exchanging at about 190 naira. Few months after the dollar is exchanging at a whooping N305. Yet the Buhari-led government is insisting it won't officially devalue the naira. As a response and in his dictatorial tendencies, Buhari has hijacked the duties of the Central Bank of Nigeria. He has essentially stripped it of its autonomy and dictates the economic policies.
The same goes with the judiciary where Buhari flouts unfavourable court orders and only obey the ones he deemed favourable. Buhari is adamantly trampling the Nigerian judiciary as well as the rights of Nigerians. He is almost becoming a supreme emperor upon whose shoulder every power in the land rests.
Yet this is someone who has never clearly given an articulated answer to every question that has been posed to him in the public.
Nigeria's crude oil is no longer lucrative as many countries that used to patronise the Nigerian sweet crude are shunning it.
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| A clear demonstration of Buhari's misgovernance and Nigeria's ultimate journey to oblivion is the rapid fall of her currency, the naira. |
Nigeria's stock market is at rock bottom with many foreign investors having pulled out their shares from the Nigeria choppy stock market.
No aspect of governance appears to be moving and Nigerians are toiling under extreme hardship.
It is expected that if the country does not borrow in the next few months, it won't be able to pay salary of workers. Already at the state level, the effect is being felt. Many governors have begun sacking workers, while some threaten to cut down minimum wages as their revenues from the federal allocation increasingly decline.
The Bloomberg has described the Nigeria's dire situation and currency manipulation as "Flirting with DISASTER!" Likewise, The another prominent international economic heavyweight, the Financial Times described Nigeria's approach to its economic misfortune as the "height of foolishness!".
You need no other indicator that the two above to understand how precarious Nigerians current situation is.
Politically, as Buhari clamps down on dissenting voice the Indigenous people of Biafra have intensified their effort to restore the Biafra Republic. Biafrans have seen the ultimate collapse of Nigeria and want an out before the country implodes!
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