Buy Made in Nigerian Products as Dollar Hike – Is it Buhari Agenda for National Development?

By

Musa Abdullahi Sufi

Kano, Nigeria

Yesterday, within 4 hours of a day I encountered  the following;

1.     The fish seller claiming increase in price of fish he is selling was due to increase in dollar against Naira exchange rate even though he bought it from pond 

2.     Mechanic who repaired my car charge me high and relate it with same reason like fish seller

3.     Participated in the discussions with some brilliant and intelligent guys. Some believed Buhari is a good choice but quack cabinet members, blaming Buhari for giving Fashola 3 ministries to handle. And others didn’t vote for Buhari because the knew Nigerians will suffer paying tax and militarization of government etc.

4.     In another group discussion, the people including gatemen are abusing Buhari for allowing dollar to go much higher against Naira and causing economic suffering for the populace

5.     I noticed that many people assumed that Buhari is operating devaluation of Nigerian currency.

Is Dollar rising against Naira, a beneficial opportunity for the Nigerian  Economy?

In view of the above statement, I decided to go back to my elementary economics texts and was able to generates some of the following highlights

1.     If dollar is high than naira in exchange market then dollar will be scarce both in black and lawful market, thus less use of dollar in the economy

2.     High Dollar against Naira  our business men and women buying every little thing from abroad will be buying  locally

3.     The Local market products will rapidly keeps increasing as buyers focus to long neglected local products

4.     Already, local business made in Nigerian products in Aba, Lagos and Kano for example is booming  by the hour  and employment created automatically

5.     It seems today buying products abroad will leads the business owner  to bankruptcy as customers cant afford the price of imported goods purchased in dollars. The value to get and use naira  by business men and women is increasing  thus, more value to Naira

6. The medical tourism is going down because the price is tripled for curing of minor headache and other serious ailment by the bourgeois

8.     Pursuing foreign education will be at it lowest soon due to cost

9.     More business women will benefits from this change due as some internationally dominants products that destroy local business like the coming Brazilian hair to locally more braiding of hair that employ thousand of local women

10. The market of made in Nigeria products is practically moving. I bought N3000 jeans and school bag N200 few days ago respectively.

11. Made in Nigeria products are now sighted on display and buys everywhere

12. The wide gap between the rich and the poor could be virtually bridge due to simplifying life through developing local economy and creating jobs that leads to more income earners.

Finally, as dollars upsurge against Naira, Nigerians will automatically stop buying from abroad and the investors will find their way to Nigeria with their dollars because Nigeria have the market.  With their investment Nigeria will profited from employment created, tax generated, market and cheap products as locally made. 

Consequently, in a near future if the planned strategies that are partially made known to Nigerians work; our employment, education, health and all other institutions will receive attention much more at the moment. But this is only possible if  ‘We’ Nigerians realizes that ‘We’ can only be great if we value what we have!

 Obama recently said “ Hoping your President fails is the same as hoping your country fails, and its NOT patriotism. PATRIOTISM is supporting your Commander-in-Chief, even if you don’t agree with him on everything”

You try! Though you repetition was much

nice analysis

Good.

am sure nija will be great again though it might take some time and perseverance

plenty sense