A STATE OF EMERGENCY DECLARED IN THE NIGERIAN ECONOMY

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    – A STATE OF EMERGENCY DECLARED IN THE NIGERIAN ECONOMY

    – Economic crisis currently ravaging the country as importer and exported clamor for a change

    -Fuel crisis has continued to make citizens queue for the commodity

     

    State of emergency in the economic sector
    The currencies Nigeria as a country holds

    A STATE OF EMERGENCY DECLARED IN THE NIGERIAN ECONOMY

    A STATE OF EMERGENCY DECLARED IN THE NIGERIAN ECONOMY

    Due to the sardonic state Nigeria as a nation state has been plunged into with the economy that the present administration has made its citizens to combat with.

    It would be imperative however to say that in all ramification, it has not tried in elevating the sufferings that its citizens face with each groaning day. It is now deduced that after the general election that ushered in the current president, the economic situation the country is  currently facing has down-casted the fate of citizens who earn a living from living each day.

    A very big crisis the country is facing in the aspect of business is the incessant rise in Dollar. Majority of the good and services used in the country are imported, even as little as the toothpick used. This rise in dollar has affected a lot of commodities as they seen to be out of reach of the common man to buy and attain to.

    The importers of goods into the country are also lamenting about the rise in the foreign country for exchange. Customers no longer flood the market as they are agitating for a change in exchange rates. This goods and services have however, been doubled and in some cases out of reach. In Nigeria of today, it could be said that the least amount of currency the country holds cannot buy anything. The currency is as good as none existent.

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    The fuel crisis of the country is another major issue that has troubled the minds of Nigerians. Queues as long as 500 cars parked at the road side of high ways in order to get this burnable commodity has led to the death of several individuals.

    The amount of Naira used in the past to obtain a particular amount of fuel in the past at fuel stations, has doubled as the regulatory body which foresees the regulation of this commodity has done nothing about it. Surprising to note that most fuel stations do not sell into gallons, but however, they do so to hoodlums and touts who are expected to give the petrol attendants some few amounts of money.

    State of emergency declared in Nigeria
    A refinery in Nigeria

    Currently, on your way to Muritala Muhammad International Airport Lagos, Nigeria, it would be disheartening to see that various hoodlums flood the road side to sell to any who is interested in getting the commodity at a faster and exorbitant price.

    It is bad to see such a disorder in order occurring in a country that does not have civil war on the horizon. The cases of countries like Rwanda and Liberia brings to a mind such scenarios.

    Would the way forward be backward? Would citizens continue to be subjected to abject penury? Today a dollar is approximated to 199.30 Naira in the bank, while the black market runs for 300.03.

    The country need to declare a state of emergency in the economic sector if that in the helms of government wants citizens to continue as loyal subjects.

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    If something drastic is not done, then the rate at which crime rate and vandalism would engulf the society, would never have been precedent in the history of Nigeria.