DOLLARIZATION & PAUPERIZATION OF COUNTRIES WITHOUT MEMORIES

How did we get here, when can we get out and what foreign taste are you willing to give up? The best academic opinions on the dollarization of African currencies have shown mixed economic results and few benefit to a country that does not print its currency. It denies them crucial economic decisions that could only be taken at home but left to countries where dollars and euros are printed.

Apart from dollarization in some African countries, others practically use dollars and euros for major transactions and purchases like cars, houses, school fees, rents and of course to pay foreign loans. Some of the traders openly reject local currency as worthless. It exacerbate the exchange rates creating local inflation that call for total dollarization as a cure for the same problems created in the first place.

Well, is that not the real reason for economic domination and helplessness over African future? African countries cannot trade between themselves without using currencies outside their Continent, only petty traders do. There is nothing African about international standard or international currency. China is finally breaking the European and American dollar and euro monopoly.

Since we got used to everything imported, most of the money we make were spent on foreign goods and services. The more expensive they got, the harder it became to meet daily responsibilities with our meagre income. Ordinary pins and pencil, we had to import with dwindling income. In short, we became import dependent economy. We would rather buy used imported goods than produce our own at home.

We simply could not sustain our “sugar tooth” anymore, so had to swindle, steal, loot or magomago our way to increase income to support our additions to foreign goods and materials. It is not that we never tried, our local manufacturers were derided and looked down on as Ijebu and Okrika mades.

Each time before an election, citizens and even political cronies are suddenly surprised at the amount of dollars, euro and pounds that are circulating at these conventions. One would think they were sleeping before this time or their brain were on sabbatical. If any big spender is suddenly exposed or reported in the newspaper, they gasped. Bah!

Before SAP (Structural Adjustment Program) and Currency Depreciation, we pride ourselves on “Being” good Christians and good Muslims. We became “civilized” by how much French, English and Portuguese we could speak and how little African languages we could think in and speak.

People have forgotten that the best time most African countries had was when our currencies were at par with foreign currencies. It sounds like ancient history now. We then moved to a point when foreign currencies were regulated to preserve our foreign exchange to the time foreign currencies were totally banned. It was later relaxed and certain amount were allowed for travel, school fees and limited goods and services.

We were still good up to this point because violations led to serious time in jail. Most sober Africans would tell you those were good old days. However, economists and exploiters preached liberalized and open market, free competition to spur production and ingenuity as the same argument used for SAP and currency devaluation. The losers started from devastation of the middle class to the working poor masses.

Countries without memories are bound to repeat the same mistakes like a recurring decimal. The leaders that were united in the fight for Independence had a common bond to fight their oppressors and tormentors. Like other African countries, as soon as the the colonial oppressors departed, leaders established more industrial areas for workers, farms, schools and hospitals within their states and regions’ capabilities.

Those that benefited from the hard work of Independence fighters became complacent enjoying what they consider their entitlements. Education was almost free to any level or supplemented with scholarships at the state and Federal levels. They got so used to all the freebies since they were recruited from colleges and universities after graduation. They then lost their thinking cap, waiting for paychecks without producing any tangibles.

The vigor, exuberance and skills used to confront the colonial masters soon disappeared and replaced with bloated ego as long as they excel in western education. They pride themselves as copycats of Western and to a lesser extend of Eastern civilizations. They threw their own culture, food, clothes and everything needed for survival at home, away. Since these could be easily imported, they got them until they could not do without their foreign taste. Call it sugar tooth.

These borrowed habits and cultures dogged those that consider themselves “civilized” and passed it onto their children, including foreign languages at the expense of their own.It is not uncommon to find “educated” families unable to converse with their children in their own language. Much has been made about Mission schools forcing children to speak in English. Who forced them to speak English or French at home?

Recently, some African glowed at the “perfect” accent of Kenya’s President at the White House. They forget that neither François Mitterrand, any other French President or Greek’s George Andreas Papandreou that taught in American university never spoke English when they met USA or British leaders.

It became expensive to support this foreign lifestyle in local communities. Even when local food were cheaper at the local markets; Akada and Adaka preferred supermarket where foreign food are sold. Since we neglected what was ours, we patronized foreign clothes, shoes, English gold (exported raw from us), sardines (fresh fish exported from our waters), etc. This was how we increase production and jobs abroad and killed our local industries at home.

The irony is that the only place genuine organic food are sold were at our local markets. Almost everything at the “so-so” supermarkets were canned. By the time they were opened, they must have spent ages locked up and stale. Most of them were exported from our shores as fresh fish turned into canned fish or our beef turned into corn beef.

Of course they were bought cheap and sold very expensive to us. It has got to a stage where Chinese products and food are sold cheaply to displace ours in our markets. Even worse, some of them were of inferior quality. They killed our textile material industry and some of the imported food were made of plastic. We were using good money to chase inferior brands.

Our import dependent economy has a long history but we lack memories and never learn from our past. It was illegal to drink our local gin since it would compete with foreign made. Tai Solari had to take local gin to police station to dare arrest!

Recently we discover rice production within our countries, we are making progress.
Can we go teetotal back to local consumption in order to save ourselves from reckless tastes for goods and services we refuse to make locally in sixty years since they are readily available outside?


Europe and America have delegated us to be the producer of raw materials and appointed themselves as the manufacturers of finished products. It does not take much calculation to know that if you pay ten to hundred times more for finished products from what is paid in raw materials, you would become a debtor forever.

The only way to continue “enjoying” and satisfying our foreign tastes are to make, source and loot more foreign cashistics. So our politicians increased their salary to meet the demand of their foreign “obligations”. Even when Nigeria cannot afford to pay teachers and junior civil servants, the Government borrowed foreign money to pay politicians outrageous salaries that are higher than those of any politicians in the world.

This is not enough for our politicians. Their specialities are foreign contracts where they can inflate the cost of projects, goods and services; so that hefty amount can be deposited into their foreign accounts. As soon as they make bulk purchase of tricycles that could have been manufactured at home, it is advertised for maximum publicity so that people can dance and celebrate the good work of their politicians.

https://www.modernghana.com/amp/news/878794/dollarization-pauperization-of-countries-without-memories.html

You are so bereft of simple logic to put forward in order to support your your point apart from senseless labels.

Nawa4nl:

Until we learn the importance of Trade from Ancient Times to Today that if you have no Exports to Offer, our currencies are going Zimbabwe dollars.

You can only determine then negotiate the Price of what you Sell, not what you Buy. Selfishness, Greed and laziness have Blinded some of us. As long as we can import anything we want, no need to export.

Until Arabs were able to dictate the PRICE of Oil through Oil Embargo, they sold at price dictated to them.

" However, no country can survive on foreign income by importing everything without diverse exports for long. Our Youths were brought up on new and used foreign goods paid for by a single commodity: crude Oil from the Arab Embargo windfall. Before then, foreign money and imports were selective like every country in the world. This was the reason Naira was at par with British pound and equal to one and a half U.S dollars then."

https://www.thenigerianvoice.com/news/330912/home-sweet-home-no-place-like-home-no-longer-sustainable.html

HOME SWEET HOME: NO PLACE LIKE HOME NO LONGER SUSTAINABLE

The feelings of Youths towards their country is different from those that grew up willing to die for the liberation of their people from Colonial domination and humiliation. Patriotism has gone out of sight. Replaced by a rush of individuals waiting for their turns to share the National Cake. Young people old enough and having their own children could not remember anytime in their lives when Nigeria had a regular supply of electricity, water, subsidized adequate education and hospitals while reaping the benefit of foreign income from the 70s Arab Oil Embargo.

However, no country can survive on foreign income by importing everything without diverse exports for long. Our Youths were brought up on new and used foreign goods paid for by a single commodity: crude Oil from the Arab Embargo windfall. Before then, foreign money and imports were selective like every country in the world. This was the reason Naira was at par with British pound and equal to one and a half U.S dollars then.

It must be repeated that the best time to serve African countries is in our youth. Africa is not a burial ground as some foreign leaders have noted. We need young viable men and ladies that can rock, endure or change hostile environments as a result of little infrastructure. The lack of adequate infrastructure makes the difference in the survival of poor people either in Africa or in the developed world in very cold and hot weather.

When we revolted against foreign culture after Independence, African cultures claim that it is difficult to forget where your Umbilical Cord is buried and you do not point to your father's land with the left finger. Unless you are driven by existential fear that can eliminate your very being. While the loved ones cannot wait for your return home; cynical people wait to exploit you as you return, out of greed. In other words, da bii mo se da!



Source

If Nigerians defy Death Penalty in Asia, Agadez Niger Republic story not enough deterrent.

Agadez Niger Republic where migrants from Libya were begging to return home met migrants defying their horror stories to go through even worse situations. Despite horror stories of dying in the desert, taken as slaves by Asma Boys, sold for body parts, rape and given the most inhumane treatment worse than animals, new slaves were not convinced by the face to face stories until they taste the worst punishment themselves. https://www.nytimes.com/2024/01/23/world/africa/agadez-niger-migration.html

Put on your glasses. Not only do they stay, they live large fantastically because they exploit opportunities you ignore.

DatIgalaDude:
Make them come stay na

Yet Nigeria Japa with millions that cannot last them a month outside!

Seriously? Yes. Every foreigner in Nigeria will tell you there is more money to be made in Nigeria than in their own countries. Otherwise they would not leave their comfortable countries to make bigger profit and live majestically in Africa. All they have to do is distinguish frausters from greedy local partners and hold their noses long enough until they drain Africa's Central Banks with the help of African enablers.

Africa can never get out of the economic quadrum we put ourselves as mainly petty traders; buying and selling imported foreign goods and services while we export little finished products at our dictated prices. On the other hand, just ask Nigerians exporting finished goods and preserved food to Western countries dictate what to pay for their exports; how they laugh to their banks in U.S dollars and Euro. We must think about finished exports instead of obsessive indulgence in foreign used and junk goods.

Soure: Farouk Omo Aresa I
https://www.thenigerianvoice.com/news/330371/if-foreigners-see-africa-as-the-best-place-to-make-money-so.html

Nay sayers will never agree.

This is why they think they can japa with millions in Naira, only to find out that all the millions in Naira will not last them a month outside.

Dey play you hia. You go learn by tulasi

Many Nigerians worked so hard they forgot how to make money legally while the greedy acquire money just for the sake of conspicuous spending.

Think harder than waste your effort for illegal money.

All these nonsense to undermine one of the most respectable culture on earth is appalling.

Check the Yoruba Value System for guidance. The same messengers of foreign religions that sold you into slavery are worshiped and bowed to.

Our problem for money, ostentatious of anything foreign and even fuel (those that have fuel are now the oga) have blinded us.

It's a pity when Nigerians from Diaspora that are not in 419, drug peddling or money laundering; bring home their whole year savings, showing off like a drunken sailors. Most of them have not even paid off on the ticket they bought on credit card.

Moneybags and informed Nigerians watch them until they changed their their last dollars and run back. Those they try to impress stop visiting them when they realize bra stopped giving transport money.

American Treasury print more hundred dollars bills for Outsiders than for American. Surprised?

Nigerians in Nigeria possess more American dollars and Euros than Nigerians in Diaspora.

Moreover, U.S dollars and Euros are easier to get in Nigeria than in Europe and America.

Ironically, Nigeria rush those coming home for dollars than the politicians, business men and their cronies.

Everyone that can, now demands ransom payment. Unfortunately, it not only the Police and Army at check points on the road but friends and relatives.

Even Bus stops can be raided and you suddenly find yourself in Police detention.

How for do?

Regardless of where you come from in Nigeria, we say do not point to your motherland with your left finger.

So Nigeria the zoo, shithole and more where anyone that makes his first million, sell houses and land to buy tickets, can become worthwhile, in jail of all places?

Ogun, Amadioha and Kuri please have mercy. I say an article about how Africans would rather be in foreign jails than come back home.

https://www.jamaicaobserver.com/columns/rather-be-in-a-foreign-jail-than-live-free-in-africa/

USE LOCAL CAPITAL FOR INVESTMENTS NOT TIED UP DIVERSIONARY AIDS/LOANS

https://www.thenigerianvoice.com/news/328339/solution-use-local-capital-for-investments-not-tied-up-dive.html

The same experts with locally trained cronies at Oxford and Harvard that killed us patapata with Structural Adjustment.

They will never stop as long as importers of pins, used goods, junks and laborers called engineers employing our graduates keep coming in.

No wonder Procter and Gamble, Smith Kline and others have pulled out to become importers, the most profitable game in town.

They are all after CBN to loot any earned foreign income in the name of Only Foreign Corporations are our Salvation.

It has gotten worse since this article appeared in International Press.

Lord have Mercy. Nigerians melt into the wall, abuse one another or commit suicide instead of fighting back.

We then go to South Africa and United States where Blacks fight tooth and nail for the little they have to compete with them.

Even call them lazy!

Sometimes I wonder if those who support beastiality, savages and despicable acts on either Gaza or Israel side can differentiate between cold blooded animals and those who water runs through their veins.

All they have to do is give a dog a bad name in order to hang it. Relatives of those who lych humans and use them as burn fires.

Watch out one of these may be the neighbor that smiles and waves to you everyday.

The truth hurts.

Yet the cowards Ameachi said they are encouraged to steal because rather than stone them, they commit suicide.

Can you believe the same Nigerians that use their first Million in their life to japa, call African Americans lazy and all kinds of names?

Even worse unpredictable names for their country reflecting the village they come from. Who gets up every morning wishing they are anything else but Nigerians until they are stuck outside asking Nigeria for help to rescue them.

There you go. They want to import from factories overseas and create jobs there.

Even when local raw materials and wages are cheap giving them maximum profit. But they are willing to pay higher wages at home.

Africans you see your lives. Who preached to you that foreign investment is your salvation?

They are patriotic, mean exploiters. They want you to change your worthless currency into dollars and euros. If they make stuff cheaper in Africa and export them, as they do in China and Asia, African currencies and economy will become stronger competing with them like China.

How can you take family to sugarcane plantation?

Not only pass war. E pass organ donor, Asma Boys in the sea and desert, eru osu human sacrifice in the zoo or death penalty for drugs in Asia.

True tok my buroda.

osazsky:
wat we are facing now pass war

Oops! How did Atiku missed this one during OBJ./Atiku Show?

Abubutan: a project that keeps on giving and creating billionaires under every Government.

JAPAJANTIS affects everybody, even the political looters. The more money Nigerians make, the more they spend on foreign tastes. Provide local incentives like industrial estates, housing, schools and recreation areas like the old Western Nigeria.

Every worker compare their salaries to foreign workers as if the economy and training are the same as in Nigeria. We know it is not. What they spend in a month in Europe and America is what we spend in a year in Nigeria.

We can never solve the problem of Japajantis doctors just like other professionals that japa until we start training professionals for Nigerian needs and problems.

Can you imagine a Chinese doctor without Acupuncture training or Indian doctor without Ayurveda training? Ask a Nigerian doctor about traditional African Medicine, he would look at you as if you are crazy.

Profs. Olikoye Kuti, Lambo and Abimbola tried all they could, they were derided as Babalawo.

If you want solution, start training doctors for African needs, more Community Health Officers (Physician Assistants), better recruitment of children of Babalawo into Medical school.

The doctors we have today are trained to pass foreign exams before their final year. Even when they spend time passing local board exams and looking for internships abroad, their families suffer from proud Nigerian doctors that look down on Gburu. While their children sought public welfare to survive.


DECLAN2015,

Thank you for this impute. Most people think good doctors come out fresh like pastries from the oven.

DECLAN2015:

You just want to talk
Medicine is not like any other proffesion...
It an apprentship system and most of what they do come with experience.
So if those that need to pass the knowledge down all ran away.what do u think will happen in the long run.
Medicine is not teaching proffesion

I can understand building Public Housing for President, Governors and their Vice. Barracks for Police, Army and Navy.

Why not build public houses for the poor and working class like Jalande?

Places like Arizona, Texas and European countryside still use mud or clay bricks but expensive as you indicated.

Even modern houses everywhere still used mud or clay bricks on some or all parts of their houses. Most of the fireplaces use the mud or clay bricks.

They are expensive because the mud in brick are baked in oven instead of being left to dry outside.

There are also natural stone houses but expensive. It boils down to using local materials instead of importing far more expensive materials from outside. Indeed marbles and others are available locally.

But builders would quote imported and local materials to you as if you can tell the difference.

YoungBlackRico:
Baked clay bricks are actually more durable than the normal more, but also a bit expensive.

Pew - Windsor, ON, Canada.

Human trafficker as you are, use blood money like the Asma Boys in the desert, specialize in organs selling.

You revealed yourself. We know the village you came from by the way you describe your country. But your day go be one day.

You have never failed to support those who cause human misery around the world. So the plight of fellow Nigerians outside in a fringing cold country must be exploited for money to invite more of them.

Sincerely, I have to cool down to put this mildly.

Business opportunity.

Japajantis use your ticket money and foreign school fees to rear sheep in Nigeria. Displace those looking for your backyard to rear cows.

Which part of your villages did Jesus and Mohammed come from?