We have been saying it before now that there is RED alert on Nigerian Economy, under President Jonathan, many said it’s a lie! Now I just wanted to share brief evidences that our economy is in retrogression situation.
Nigeria Naira against Dollar is now more than N170. Crude Oil is sold for $75.5/barrel. Foreign investors have withdrew their Investment from Stock Market for its crashing.
Market Capitalization of Stock Market has crashed to N11.00trillion from N14trillion that Sanusi Lamido left it. All Share index is 33,216 from around 40,000 that it was around January this year.
Banking capitalization that was around 8trillion has gone down to around 5trillion. What a government?
Now, how do we survive when the quantity of crude Oil we sell has reduced beyond reasonable level. I doubt it if Nigerian Economy could make it through 2015.
Which area is where our President is so good? This answer is left for him because we can’t even predict which area he could handle perfectly.
The best thing is for Nigerians to ask him to go home and rest at his home town, for if he continues, it is dangerous and injurious to our economy and future of many Nigerians.
By Abiona Wahab Abiodun