WARNING:
This is NOT strictly about photography. It is a classic RANT/RAVE posting.
You’ve been warned!
It’s more about celebrating people who are courageous enough to voice THEIR convictions contrary to popular opinion or even “sage” advice!
I admire this man. Honestly!
After a series of consultations with Nigeria recently, the IMF in it’s “infinte” wisdom recommended that the Nigerian Naira was OVER-VALUED and therefore we should devalue our currency “for greater exchange rate flexibility”!!
Can you imagine that??
Look, I’m no economist or financial guru (even though I have a B.Sc in Computer Science and Economics), but the little economics i Learnt in ECN 302 (i think) – MACROECONOMIC THEORY told me that only sensible reason to devalue a currency vis-a-vis the world market (is that right?) is when a nation’s economy is pre-dominantly EXPORT DRIVEN!!!!
Nigeria, unfortunately is the EXACT OPPOSITE! We IMPORT EVERYTHING!!!!! EVERYTHING!!!!
Do they want to kill us?
Eh?
Devalue the Naira? To what end? For what purpose? Eh?
God save us from wickedness in high places!
So, back to Mallam Sanusi Lamido Sanusi. He is the Governor of the Central Bank of Nigeria – the apex bank in the land.
Anyway, according to the Guardian Newspaper today (one of Nigeria’s leading Dailies), Sanusi is quoted “We do not believe that the Naira is over valued… we do not believe that at a time when the oil price is going up and output is going up we should be losing the value of our currency.” He is further quoted, “We also do not think that it makes sense, if the IMF is concerned about inflation, to ask a country that is import dependent to devalue its currency…SO THE ADVICE GIVEN BY THE IMF, FRANKLY IS NOT BASED ON SOUND ECONOMIC LOGIC” (emphasis mine, of course!)
Whoopeee!!!
Tell them o!
Devalue Naira koo, devalue Naira ni!
===
Okay. Back to work. Rant over!
P.S. Can anybody hook me up with Mallam Sanusi L. Sanusi? I’d like to do a photo of him for my collection of people/Nigerians I absolutely admire.
On my list? Mallams el Rufai and Ribadu.
P.S.
I think I messed the scheduling of this post up quite a bit. It was supposed to have gone up last week or 2 weeks ago when I read the article I referred to in the Guardian newspaper.
Apologies.
Pingback: Europe Is Being Held Together With Duct Tape