One day, I stumbled upon some receipts issued to me by block makers when God gave me the grace to build a house in 1981. I felt highly disturbed and extremely sad. "A 9-inch cement block for 80 Kobo? What is our offence in this country? Why the staggering difference now, oh God!," I lamented. The same size of the block I bought for that amount sells for 120 Naira somewhere in Ibadan! I still recollect that before I paid for the blocks I used to lift one and drop it to confirm the quality. Which block maker will allow you to perform such test today? Pondering over the genesis of hyper inflation in Nigeria, I noticed that 90% of the causes emerged from unfriendly exchnge rates and our persistent preference for imported goods. When I bought those blocks in 1981, a Dollar was exchanged for less than 60 Kobo. Gradually, the economic situation of the country moved in reverse order, depreciating our currency while inflation galloped as if running a 100-metre-race. Today, through the efforts of those at the Central Bank of Nigeria, the exchange rate seems to be hovering around 150 Naira to a Dollar. I still consider this exchange rate quite uncomfortable. What measures can those in authority in particular and Nigerians in general adopt that the Dollar will not be exchanged above 50 Naira? Where are the Economics profesors? Where are the Finance gurus? No more possible in Nigeria? Omokemesi

IBB  with  his SAP messed up everything devalued the naira,made import attractive and export unattractive.Input into production beame expensive and affected sociala and economic life of people,all the middle class people started o look for American and U.k visa.

We have a long way to go,we need infrasructure to enable production,and effective customs service .Encouraging export and production.It may not happen in my life time again,i know.

funny the guy who created the mess now wants to return.