₦airaland Forum

Economists, accountants and knowledgeable people in the house,please what can be done to make Nigeria naira equal U.S dollar ? Please I need to be enlightened.

The government must cut down aggregate spending particularly on recurrent expenditure and then increase income from taxation, excise duty through increase in local production. If we cut down aggregate spending which seems to mount more pressure on our naira and then increase productivity which leads to exportation of products and services then our local currency will appreciate.

Hmmmmm! Seeing the kind of country and leadership we have, this can only be achieved when Nigeria reincarnates.

PartnerusIsBack:
The government must cut down aggregate spending particularly on recurrent expenditure and then increase income from taxation, excise duty through increase in local production. If we cut down aggregate spending which seems to mount more pressure on our naira and then increase productivity which leads to exportation of products and services then our local currency will appreciate.

psucc:
Hmmmmm! Seeing the kind of country and leadership we have, this can only be achieved when Nigeria reincarnates.

Sure that's true. The government itself knows the right thing to do but sheer lack willingness on the part of government has made it literally impossible for them to do so. Also they have got economic advisers but as the normal case, political exigencies always overriding economic gains, takes the order of the day.

The best time to adopt austerity measures isn't during the time of economic recession. The right time to so so is now. We must take the bitter pill no matter how hard it is but we won't die of it.
I am hoping someday to return back home and occupy such high echelon designate which will enable me roll out austerity measures. The people are certainly not going to like me nor my policies either but I am not an entertainer who has to be loved by fans. If the politicians won't accept my austerity measures which will in the long run see us attain economic prosperity, then I'd be on the next flight back to where I am coming from.
We have the brains but what we lack is the willingness to get things right.