I was at the market recently; the woman who sold dry fish to me said jokingly, “These days people no dey chop belle full again, you go chop small, drink water and ask God to bless the remaining.” That sounded really funny and I laughed despite the reality of the situation. The naira is at an all-time low against the dollar.
The situation is worsened by the fact that people’s buying power is tremendously weakened. As food and commodity prices are going up, people’s capacity to purchase is reducing because more income is not necessarily coming in; companies are not increasing salary either. This is the unfortunate pit that we have found ourselves.
Some people say that it is the previous administration that got us to where we are, but I disagree. During former President Goodluck Jonathan’s administration, under the competent hands of Okonjo-Iweala, things were not as bad as this. Okonjo-Iweala kept inflation in single digits. In fact, starting from former President Obansanjo’s time, the economy witnessed an upward progression; from debt cancellation in 2005, to economic boom with the discovery of new sectors like telecommunications, and to the rebasing of our economy in 2015, when Nigeria was declared the largest economy in Africa.
It would also be recalled that as oil prices began to dwindle in 2015, Okonjo-Iweala managed to keep things going; she put austerity measures in place to serve as a buffer. Thank God for her policy direction that states should save, otherwise a lot of them would have had little or nothing to fall back on.
I strongly believe that it is high time the administration of President Muhammadu Buhari invited Okonjo-Iweala back into the helm of affairs. She is a woman of foresight with sound policies that can guide our economy in the right direction.
She has done it before. At the inception of civil rule in 1999, the economy was almost grounded due to years of corruption and embezzlement by the military. Obasanjo, in a smart move, appointed Okonjo-Iweala as the leader of the economic team that revived the economy.
This is the time we need Okonjo-Iweala the most. President Buhari needs to admit that she is skilful at resuscitating dead economies. He can leverage on her exposure and international connections for the benefit of the nation. If given the chance again, in less than a year Okonjo-Iweala will take Nigeria out of this pauperised state and begin to propel our economy in the right direction.
Bade Adebolu writes from Ado-Ekiti. He sent this piece via badeadebolu@gmail.com Click to signup for FREE news updates, latest information and hottest gists everyday
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Adebolu, keep dreaming.
ReplyDeleteIndeed, this is nothing but a gullible write-up since it lacks a proper factual and balanced assessment of historical facts.
DeleteAdebolu, it's already settled and that train has left the station, Under Madam Iweala, the Nation's Treasury was blatantly and callously looted and the entire Citizens of Nigeria are paying for her decision to "Turn a Blind Eye" when the atrocities were being committed. In fact what Madam did instead was ensure she had a legal cover whereby when the revelations start coming up, no one will be able to prosecute her.
Bottom line, Madam Iweala is not a Patriot!
All the same, "if only wishes were horses...."
Adebolu, you are entitled to your opinion (though gullible as it may be), by this, do keep on dreaming.
Iweala that they insulted and called names. In fact Adams Oshiomohole stated a lot of even unprintable things in press to the extent that he was acting as if it was a personal matter between them. Oga na this same set of people you want the woman to come back and work with. I don de fear you.It is like you no like the woman ooo! The sort of abuse I'll feeling they have for most people that served under the last administration going by their public utterance and reports in the press is not one I would even advice Dr Iweala to serve in any capacity. Shebi they have competent experience saints that can run the economy.
ReplyDeleteOga look at it now. Is it the same people you have blanketly called clueless thieves and looters and hence destroyed the economy that this ignorant incompetent visionless APC government will go back to?
Change dole!
Sai Baba!
What is SPECIAL about her, it was under her purview as Coordinating Minister that the lootings of our NATIONAL TREASURY took place.
ReplyDeleteWailing wailer, what is special about her is that this bunch of incompetent clueless ignorant and inexperienced ones that took over from her has just destroyed what she has achieved over time. You are one of those running around with painted brooms and trekking from Lagos to Daura. I can understand your disappointment and frustration. Sorry ooo! $1 dollar is now equal to one naira. Food is now more precious than gold in Nigeria. Na the change be this. Mumu!
DeleteSai Baba!
Change dole!
You apparently clueless on the workings of the global economy and how it operates .How the IMF forces third world countries like Nigeria who are already in distress to keep on devaluing their currency to the advantage of the globalists and also to conform to the so called global aggregate demand .Therefore any country that refuses to comply will be strategically destroyed through all sorts of means.recollect bihari refused to devalue naira for a long time?his aguement being that he couldnt becos nigeria was not producing anything and he was right about that,but in the end due to so much pressure from the globalists he caved.No country has gone against the globalists without tears.in a nut shell buhari is doing just fine ,fighting the thieves within Nigeria but doing badly fighting the bigger thieves,the IMF and the globalist who I suspect are also behind the crashing of oil prices in order to destroy the economies of certain countries not conforming
DeleteThis is what happens when your primary aim of coming into power is to revenge and display hatred and tribalism. Every meaningful person would distance themselves from your government,after all you have saints as ministers.
ReplyDeleteDoes it mean there is no people that has brain more than Okonjo Iweala.They should not invite her to this govt bcos by doing so pdp will be say rubbish.
ReplyDeletewhat is the difference between okonjo iweala and IMF?
ReplyDeleteI am so glad that Nigerians are awake now.in fact when I read the title 'why are Nigerians begging Ngozi to help buhari' I felt insulted.Ngozi single handedly wrecked Nigeria under a drunk president who was kept that way possibly so that he would not perform his oversight function and hence Ngozi looted /allowed looting to the detriment of Nigeria and to the advantage of her masters speaking of the IMF and the world bank.she was deliberate and never had any allegiance to Nigeria her country but rather she was loyal to those who made her and same people who control her(IMFand world bank)
ReplyDeleteShe hates Nigeria and should never be allowed to run such a sensitive office ever again ,in fact she shouldn't be allowed to run any office at all.That's why prof soludo blasted her.She is evil.
Mumu! Wailing wailiers. Yes I can understand your disappointment and frustration cos you are one of those running around with brooms and trekking to Futa Jallon.Now hunger and starvation and hopelessness is what we got. Sorry oo because a hungry man is an angry man. Sebi you are one of those who donated their life saving to Baba to buy form and run his campaign... Sorry oo! Wailing wailer! One day you will join Baba Children and go to UN to observe proceedings. Mumu. Na hunger de worry you and hunger affect reasoning. So sorry ooo! Enjoy your change. Were!
DeleteChange dole! Sai Baba!
She did a good job destroying Nigeria for the benefit of IMF ,why do you think the globalists want to make her President of world bank?
ReplyDeleteIf she failed in managing the economy of Nigeria ,why promote her? The promotion comes because they benefited immensely from the ruining of the Nigerian economy .