N.B
1.I am not here to tell you Nigeria's economy is great. It isn't and after eight years of Buhari it is worse.So, APC people, this does not excuse your government at all.

2.I am just here to respond to this thread

Zambian Currency Is Now Best In Africa After We Voted In A Good Leader

3.A lot of Nigerians are getting excited....thinking that if we vote out APC as we should, things would get better. Yes, we have to vote out APC. But this news should be taken with a pinch of salt.

Well, here is an article on the matter...here we go.

Zambia’s currency on track for best performance since 2005


Kwacha has advanced 27% against the dollar this year, largely on the back of optimism over the August election victory of Hakainde Hichilema


30 DECEMBER 2021 - 15:42
MATTHEW HILL


Zambia’s currency is on track for a world-beating year as investors bet on the new government’s chances of securing a bailout deal with the International Monetary Fund and negotiating a debt restructuring.

The kwacha has advanced 27% against the dollar this year, largely on the back of optimism over the August election victory of Hakainde Hichilema. That’s the currency’s best annual performance since 2005, and only the Seychelles rupee has fared better this year. Both were among the three worst performers in 2020.

Zambia’s currency is on track for a world-beating year as investors bet on the new government’s chances of securing a bailout deal with the
Zambian President Hichilema’s government is trying to rework as much as $17bn in external public debt. He needs the IMF’s endorsement to advance talks with creditors ranging from holders of $3bn in Eurobonds to $5.8bn owed to China. Finance minister Situmbeko Musokotwane plans to conclude negotiations by the middle of 2022. The country became Africa’s first pandemic-era sovereign defaulter last year, and hasn’t serviced most dollar debt since.


The currency of Africa’s second-biggest copper producer has also been buoyed by near-record prices for the metal, which makes up more than 70% of export earnings and helped boost the 2021 trade surplus to 73.4-billion kwacha ($4.4bn) through November, compared with 41.8-billion kwacha a year earlier.

SAUCE


Nigeria is in the same shoe with high oil prices...but our subsidy on petrol means a lot of the profit from the high price goes to paying for the subsidy not on petrol, but on power, and even education and health. (and we still owe money on some of those subsides). Also, IMF isn't renegotiating our debt and we have not yet defaulted on our debt...which has to be paid.

What this tells me is simple. Nigeria and Zambia need to do more than just sell copper, and oil, and diversify, and even become manufacturers who export.

That is my own thought. You can vote for Obi. I myself won;t support him, but I am not supporting Tinubu either, because even if any of them does what Zambia is doing...our issue remains...we are still a sick resource dependent nation.

Let's be honest, we need a new party in charge of this nation. But what new party displaces APC next year needs to first find a way to free us from relying on oil and oil alone.