|Register On Nairaland / LOGIN! / Trending / Recent / New|
Stats: 2,967,946 members, 7,204,030 topics. Date: Wednesday, 07 December 2022 at 12:50 AM
|The Implications Of Gravitational Free Fall Naira To Major Currencies Of The Wor by ifyan(m): 8:48am On Dec 21, 2015|
Good day everyone if you are observant of the events happening in the country you will notice our own currency depreciating at a very high speed in which it favour few. It has given this current administration a task it has to be done for it not to be mock among its subject.
Taking a good look at CBN, one will wonder are this people confused because new rules every week despite it effort to see the Naira stable but all in vain. Even the finance ministry is not helping matter.
Recently Nigeria finance minister told the whole world that her country will borrow from international and local source to financed the 2016 budget. To borrow there is nothing wrong but what we the subject was expecting was it is for capital project to directly or indirectly make the Naira value increase among others currencies. But it was the other way round., recurrent expenditure. Hmmmmm what can l say or do.
This are the implications of Naira fall in the economy
1. Naira loose it value.
2. Lower earnings to the government.
3. Reduce investors confident on the economy
4. Loss of job.
5. The sky is the limit for inflation (increase in inflation).
6. Negatives effect on our image
7. Standards of living will be threatened.
8. Negatives effect on import and export of goods and services to the economy.
Note as of 19th Saturday December 2015 Dollar to Naira was $1=N270. It does mean it will be like this forever but what l am sure about this matter is, it will either appreciate or depreciate . And mind you this is not the job of the government alone but everyone.
“INFORMATION IS POWER”
Written by IfyAn
|Re: The Implications Of Gravitational Free Fall Naira To Major Currencies Of The Wor by ifyan(m): 9:21am On Dec 21, 2015|
|Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health |
religion celebs tv-movies music-radio literature webmasters programming techmarket
Nairaland - Copyright © 2005 - 2022 Oluwaseun Osewa. All rights reserved. See How To Advertise. 88