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Can Buhari bring stability to Nigeria’s economy?

Buhari announced a record 6 trillion Naira ($30-billion, 27 billion-euro)
budget promising to triple investment to stimulate growth, but unfortunately
this budget proposal was riddle with errors. The errors include the same
purchases for computers, vehicles and furniture that are duplicated 24 times, totaling
46.5 billion Naira.
International investors have been somewhat spooked by these blunders which
has meant that the Naira has depreciated heavily over the last 3 months
resulting in a large disparity between the government exchange rate and the
rate on the black market. If Buhari fails to pay heed to this disparity and
devalue the Naira, Nigeria could start to see a further increase in inflation
which is already reaching unprecedented levels.
A plate of
rice that was sold for 200 naira in December is now 350 naira. Customers are
complaining because they don’t get the same ration like before, street
food proprietor - Mary Idowu told AFP.
A 50 kilogram
(110 pound) bag of rice that used to cost 9,000 naira now costs 13,000, while a
bag of beans has gone up from 12,000 naira to 15,000, she said.
The word ‘CHANGE’
was hopeful and everyone was excited and greatly expectant, today this word has
become a ridicule.
Who is the
Nigeria’s messiah of CHANGE?
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