The Current State of the Nation

in Rant, Complain, Talk2 months ago

It is no more news that the economy of the so called giant of Africa is in a very bad state. Since the present administration took over we have seen the value of the country's currency fall rapidly to the US Dollar at a massive 120%. Consequently, this has caused a lot of hardship and a tremendous increase in inflation rate.

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Nigeria currently has a trade deficit of about 80% with China. Which means it imports more than 10 times compared to its exportation volume to China. At the same time its current debt to china is over $5 billion. The level of imbalance and economic instability is telling on her citizens on daily basis. The rate at which the country is going I won't be surprised if the fall into recession sooner than predicted.

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With the removal of subsidy by the current administration, not considering the condition of her citizens is very shameful. Know fully well that their minimum wage is NGN30,000 which is approximately $22. Some families even find it hard to feed comfortably twice a day. The most populous nation in Africa is really is a very bad shape at the moment.

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When a country with so much mineral resources and human resources suffers this much. Is as a result of bad governance, self centered individuals in the office, corrupt joint administration. The citizens suffers while politicians gets fat and comfortable, I foresee protest soon and I pray it will be a peaceful one.

Action is needed by her citizens before this leads to something else.


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