NEFERTITI@firstladyship
Dear Nigerians, PAY ATTENTION!
Leave everything, because the president of Ghana is barely twelve months in office. But:
1. He takes vacations in Ghana.
2. Ghana’s stock market is up 77%.
3. He reduced inflation to single digit.
4. He reduced the size of his government.
5. He turned Ghana Cedi to one of the best performing currencies in the world.
Ghana is an economic miracle. John Mahama achieved all of these in just a year. Bola Tinubu met the same conditions in Nigeria. It’s almost 3 years, but the man is still making excuses.
FPIs (Foreign Portfolio Investments) are “loans” to the Economy. Eg, the Stock Market.
FDIs (Foreign Direct Investments) are investments in the economy. Eg, GSK, Procter & Gamble (P&G).
The Nigeria Economy is hanging by the thread. You are surviving on two things only:
1. High yields &
2. Remittances.
Your Inflation & Interest Rate are still a mismatch. You are building something on nothing. Should Yemi Cardoso decide to align your interest rate to reflect NBS’s politically engineered inflation rate? BOOM 💥, your FPI goes to smokes.
Any slighted shift in geopolitics or shift in central bank decisions around the world? Your FPIs would be in trouble, & then what?
You need the (remittances & the high interest rate regime) to keep the Naira at the N1400 band. You need the dollar inflows.
You need FDIs (AKA jobs) to cater for the 8 million new births pumped out in Nigeria every year. Your GDP Growth must exceed your Population Growth. GDP must grow 11% at the very least (on a sustainable basis). Not the paltry 3.5% GDP growth rate. Is it for garri?
Ethiopia, Ghana & Zambia have some of the best performing economies in Africa, after some major economic shocks. Ethiopia in particular is a transformation, you need to visit Addis Ababa. Nigerians presently in Morocco for the Nation’s Cup (can testify to the quality of infrastructures they have seen so far).
Have you seen Isaac Fayose’s shocking video testimonial on Morocco’s solid infrastructures?
So I hope that lessons are being learned?
