Nigeria’s economy has gone south – While it may be unreasonable to say that Nigeria is a failed state, the signs that its economy is declining in the south, without spiritual efforts to change things, are numerous and frightened. These are some symbols, in any order, of gravity or emotion. Everyone has a problem, to say the least.
For emerging markets, whose system is full of economy and access, waiting for global customers and technologies to derail it, to provide consumer goods for many citizens who cannot afford Given their needs, the number Nigeria’s 2021 largest market. of somewhere between 1.7 and 2.0 per cent disappointing.
Interestingly, the Monetary Fund predicts a generous increase of 6.3 per cent for emerging markets and emerging economies. This is higher than the projected rate for Nigeria, Africa’s largest economy with a population of over 200 million.
The National Bureau of Statistics (NBS) estimates that Nigeria’s current growth rate is 16.47 per cent, up from 0.72 per cent by the end of December 2020. The discrepancy also reflects the rate of inflation which has eroded the situation of the poor Nigerians.
Palgrave MacMillan, a lawyer, said the rising population in Nigeria was mainly due to the government expansion plan, the naira reduction and the impact of climate change on the agricultural sector.
While the heads of more than 700 government budgets, the exchange rate of the naira to the US dollar is N380, going through the illegal interest rate of the Central Bank of Nigeria, or N485 exceeds the market cap perfect.
The CBN has set its tax policy at 11.5 per cent. But the initial interest of banks in the agricultural sector is between four and 24 per cent, while the maximum interest rate is 14 to 32 per cent.
In the past, the initial interest rate was on loans from non-banks to borrowers, while large loans were lent to lenders.
According to the agricultural sector, the main objective is sponsored by the CBN Anchor Borrowers Fund, which allows financial institutions to participate in loans with Micro, Small and Medium Development Fund of two percent, to lend to farmers at 9%, Is borrowing money so easy?
Can imagine the rate at which banks lend to others, the government leaves, employees, and then fix the inconsistent CBN system. Poet Geoffrey Chaucer, “Of the golden metal, what a machine will do,” explains that it goes.
The NBS recently published a sad report on 23.3 million Nigerians, or 33 per cent, of unemployed or underemployed workers. That suggests a lack of results of necessity, or the ability of consumers to buy whatever they want, would not expect a positive growth spurt and a lazy economy.
The blockade of modern, still evolving, digital technologies, underscores the dire state of employment in the country. The analog-set definition of Nigerian civil servants does not fit into the context of the 4th Revolutionary War.
Except for the downturns and failures of an economy that relies on a single product for 90 percent of its foreign exchange earnings, and the importation of commodity products, such as oil products, industrial equipment, machinery and consumer goods, assets and Nigeria’s economy is where it falls into the hands of corrupt and incompetent leaders.
The NBS said Nigeria’s debt by the end of 2020 was N32.92 billion, as well as N12.71 billion overseas, and N20.21 billion. The reason for this is that these messages were given by CBN governor Godwin Emefiele.
“Healing is financial. Healing is not a sin or a sin at all. He himself borrowed it to understand. The most important are quantum debt (whatever that means), as well as debt due to lack of financial resources.
“When you consider money and expenses and that (is the bill, one-note), it has been well spent, it is part of the government’s job. But where the fear is (inside) when it is on the road. ”
If you feel like you are lost on these complicated details, Governor CBN, you may choose to consider another time Godwin, Edo State Governor, Obaseki said, who recently explained that the government will invest more in Federal News. The Distribution Commission is meeting its task to support the state government by March 2021.
His comments: “We are running out of money. Oil companies, who are the producers, do not invest in oil… So, in the next year or so, where will we find this money to distribute in Abuja? When we arrived at FAAC in March (2021), the Federal Government provided another N50 billion to N60 billion for distribution. ”
While some unnamed CBN workers are rejecting such a statement by Governor Obaseki, former chairman of the Chartered Institute of Bankers of Nigeria, Okechukwu Unegbu, warned against printing money to adding ashes FAAC is not in the national interest. To say.
The Nigerian economy is still dominated by industry, due to a lack of infrastructure, economic policies and policies that do not enable people to start a business, despite the efforts of the office of President Yemi Osinbajo, who led a large plane and quickly invested abroad.
National security also adds to the situation. Note the rebels in the North-East, and the thieves, whom Sheikh Ahmad Gumi said should not be called criminals, in the North-West.
Remember, cattle rustlers in North-Central, combatants, whose workers seem to be a little less, and in the South, and a mixture of Internet predators and murderers and South-West. These are sent under the guise of illegal citizens.
Surprisingly, the caretaker Prime Minister of the All Progressives Congress (APC) found corruption and praised Major General Muhammadu Buhari (retd) for his fight against insecurity in some parts of the country and (therefore), a vote of confidence in Mr. ”
Nonetheless, the coalition of governors of the opposition Peoples Democratic Party, not the best, the Siamese twin of the APC, could say, “has considered and condemned Nigeria’s fears, which, if left unchecked” face makes Nigeria a failed state… ”
They added: “The safety and security of Nigerians are uncertain under the current government due to lack of direction and management of our land.”
If you are wondering how Nigeria got to this point of apology, you should not look beyond the illicit mechanisms that quell the anger of the nation. Political and economic motives have spilt over into the federal legislature which is controlled, in many respects, by unethical practices.
The timing of Nigerians is associated with hunger and the image of injustice, with no love for Nigeria. It seems that some are interested in the fact that other Nigerians are drowning in a poverty connection that is hard to escape.