When I saw the Naira gaining artificial strength against international currencies while President Bola Ahmed Tinubu’s propagndists beat their chests, I moaned bitterly.
However common the dollar has become in Nigeria, it is not the official currency. What should fall in Nigeria is the prices of all items. When pump price of fuel remains at N700 and a bag of rice at N70,000, any fall of dollar is just artificial, forced by executive fiat.
If you have been lucky to save some dollars, stay firm …don’t panic. It will rise again and even hit the N2000 mark. When you see constant electricity with reasonable tariff, affordable pump prices of fuel, local production of foodstuffs at favourable costs of production, industries functioning and producing at full capacities, and we start exporting to earn foreign currencies…only then will the dollar naturally fall into place.
What Tinubu and his clueless government are presently doing is temporary measure that will inadvertently push the Naira to nosedive verysoon. It is like a doctor stitching the anus of a patient with a running stomach without further medication and then rejoice the patient has been cured.
I hate to say it but the Naira will fall and lower than it recently did. These blokes snatched and ran with power. They had, and still have no clue, of what to do with it.
