Naira Doomed? Crashes Lower as Crude Gains 4%; No Sure Remedy To Nig’s Failing Economy – Ezekwesili

By: Kingsley Amadi

APC and their zombies claim, it is the crude oil price/value which is the sole reason for the Naira free falling.

However why did the Naira drop to N344-346 for each dollar when crude oil had steadily risen 4%?

Why?

It is because it is not only oil that is affecting the naira’s value. This budget of corruption and the uncertainty of Buhari and this APC government is hurting the naira value just as much as the lower oil price.

Meanwhile, former Minister of Education, and former VIce-President of the World Bank, Oby Ezekwesili has given an insight into Nigeria’s troubled economy. In a series of tweets earlier, Ezekwesili said: “Since the brouhaha on our Forex Policy escalated, all shades of views are expressed. Great. Public Discourse helps consolidate Democracy. Usually, in Democracies, the BENEFITS of Public Discourse are greater when QUALITY is high & gets higher. KNOWLEDGE of ISSUE raises QUALITY.I have read & listened to many views across the divide on the Forex Policy Stance that’s best for Nigeria at this time of REAL CHALLENGE.

“Societies diverge in QUALITY of their Development Solutions depending on their ATTITUDE to KNOWLEDGE. Ours is sadly anti-intellectual.There are NO EASY SOLUTIONS & NO UNIVERSAL PRESCRIPTIONS for Development. A LEARNING SOCIETY values KNOWLEDGE to SOLVE its problems.In a “Learning Society” , citizens 1st invest time in reading to UNDERSTAND an ISSUE first before mouthing off on them. KNOWLEDGE IS KEY.

“The arcane and sometimes esoteric issues of Economic Policy can be confusing for majority of people. Reading some basics helps a Citizen. For even those knowledgeable in Economics and Finance, there are NO GUARANTEED SOLUTIONS to the kind of problem our Economy is facing. It is the humility & pragmatism in knowing that SOLUTIONS are seldom GUARANTEED in Development that instructs an #EvidenceBased approach.When a country faces a particular economic problem an #EvidenceBased solution process can generate INFORMED IDEAS to guide its options.”