In the early 1970s up until early 80s, there was oil boom in Nigeria,the exchange rate for a £1 was N1, Nigerians were doing fine cos the economy was booming. No nigerian even have a thought of going to the UK or US to work except for study purpose.

Because of the huge resources from the lenght and breath of Nigeria, most europeans refused to go back to their various countries even when Nigeria had been declared as an independent country.

Due to Nigeria's huge human & mineral resources, the developed countries lead by UK (through the IMF et al) encouraged our leaders to devalue our Naira & when they refused, they encouraged some young military coup plotters who were desperate for power, to destabilise our economy.

These crop of leaders (puppets) devalued the Naira to what it is today and the rest as they say,is HISTORY.

The repercurssion is what we are seeing today. High rate of Unemployment, corruption, greed, undemocratic institutions, bad leadership etc.

Now, because of our currency they devalued,most Nigerian youths are desperate to travel to UK, US & other developed countries in order to make a living for themselves. Need I say that,as at today, getting a visa to UK, US etc is like the Biblical story of a camel passing through the eye of a needle. And now, the introduction of an humiliating £3000 bond for any Nigerian visiting the UK.

How low can the UK go? If our leaders succumb to this rubbish from UK, they should be ready for more humiliation to come as this won't be the last. Trust me. GEJ and other politicians must be ready to pay £50,000 Bond to enter (paradise) UK in the nearest future.

My solution, instead of retaliating by introducing £5000(which is nothing anyway), I'll advice that we bring our currency exchange rate at par with the UK like it used to be, before IMF came to destroy our economy. If the UK economy is at its lowest now, and the Nigerian economy at its highest(irrespective of the mismanagement of funds by our leaders), how come the BP sterling (£) is still about 250 times as powerful than our Naira.

The advantages of making the Naira at par with £ are;

(1) It'll automatically reduce the desperation of Nigerians wanting to travel abroad for greener pastures.
(2) More money for Nigerians to spend abroad e.g Nigerians can afford to pay the £3000 bond by just paying N3000 like they use to in the early 60s till late 70s.
(3)Corruption will reduce
(4)High increase of employment
(5)Fair trade
(6) Many other advantages


Note: There will be some disadvantages like sanctions, boycotts etc from developed power but unlike Zimbabwe, Nigeria has everything from human resources to mineral sources. With this, Nigeria will be greater than China.

God bless Nigeria.