So unless Nigeria opens up its limited foreign reserves to everyone that desires as much foreign goods and services as he wants, the Country is going to blazes. But if the Country exhausts all its foreign reserves, it will be saved from economic ruins? If we are to believe these foreign trained economists, their magazines, newspapers or prostitutes, Nigeria has no choice but to devalue its currency so that it can pay more in local currency for their odious loans, goods and services.
Once Nigeria pays more in devalued naira, goods, services, transportation fare and service loan fees will increase accordingly. Housing and car purchases increase will follow and workers will demand more to meet daily expenses. It is illogical to think that paying more in devalued naira will automatically solve the problem of a market without abundant local products to export.
Once Nigeria pays more in devalued naira, goods, services, transportation fare and service loan fees will increase accordingly. Housing and car purchases increase will follow and workers will demand more to meet daily expenses. It is illogical to think that paying more in devalued naira will automatically solve the problem of a market without abundant local products to export.