Make una no panic o!
No be we. Heh
But we're heading there like a runaway train.
All our indices and all international economic institutions have said the same, yet our finance minister says nigeria is too big to fail. Someone should tell her about lehman brothers- 150yr old bank, gone; woolworths- 120yr old international chain, gone. Zimbabwe has diamonds, venezuela has oil, congo has huge mineral deposits. They're all failing economies.
Most european nations were failed economies at some point. Who recalls britain in the '80's, before thatcher? Greece and spain are being propped up by the eu, without which they'll collapse.
Unfortunately, the press has been successfully muzzled so by the time we get there, it'll be too late to act.
My people suffer for lack of knowledge...

The losers are ordinary Venezuelans,
whose salaries are losing value by the
minute, and who have to queue for
hours to buy basic foodstuffs that they
can scarcely afford. All this in an oil-rich country whose
citizens were once famous for their
international shopping sprees. It doesn't
add up. To understand the mathematics
of the situation, you'll have to bear
with me - it gets complicated. There are in fact three exchange rates in
Venezuela. If you're importing essential goods like
staple foods and medicine, and you
happen to know the right people in
government, you can buy a US dollar
for the state-controlled price of just 10
bolivars - a bargain! Everyone else is supposed to change at
the second government-controlled rate,
currently 670 bolivars. But there's also a
real-world, black-market rate, which
has gone through the roof in recent
weeks.

www-bbc-com.0.freebasics.com/news/magazine-38336054">https://http-www-bbc-com.0.freebasics.com/news/magazine-38336054

The reason for this is simply over dependence on imports... A country that is self sufficient will have less of her currency chasing the world currency...

That's only a tiny part of the problem.
How many ecowas nations manufacture up to 30% of their consumption? Most mid east nations import over 85% of their goods- including water!
Recall that govt boasted last yr that refineries were working. Yet we stil import 90% of our fuel- the BIGGEST FOREX EXPENSE each month.
And if the power situation improved, fuel use would decrease, causing less dollar spending.
Na only d simple ones i mention so o!

nlugliest:
The reason for this is simply over dependence on imports... A country that is self sufficient will have less of her currency chasing the world currency...

How many made in nigeria items were used in the wedding of buhari's daughter?