Salma Paralluelo 
: Salma ohbee nm ( obim ), keh-duh ! ( kedu ) !
calling it the way it is
look, Salma, i really don’t know much about Nigeria and the Nigeria Economy
and the very little that i know about Nigeria and the Nigeria Economy is from the perspective of a resident in the Nigeria location all these past several years.
regarding the exchange rate of the Nigeria Naira comparative to, for example, the United States Dollar or the British Pound Sterling or the European Euro
it remains my view that historically and currently Nigeria has produced brains in areas like Economics, Finance, Banking, Business, etc
( .. refer for example to now deceased i.e late brains like
Dr. Pius Okigbo
Dr. Sam Aluko .. )
and that the accredited brains in these fields who are alive ( .. whether retired or still in active service i.e still working .. )
have the required acumen and ability to sort things out
and put the Nigeria Economy on a positive, productive, forward moving track that will automatically in it’s very own forward trajectory manifest a collateral increase and improvement in the quality of and standard of living of Nigeria residents.
i may be wrong on this. however, i do not guess so.
it is true that i have in the past posted commentary on the internet pages of some folks e.g
Coco i.e Coco Nicole Austin
Taya Christian i.e The Doctor Bae
etc
about a need to re-envalue i.e re-strengthen the Naira
and
also get it back to it’s pre-1989? devaluation value of 1 United States Dollar = 1 Nigeria Naira or thereabouts if my memory serves correctly
and better still to the circa 1974 value of Nigeria
Naira 0.60 Kobo = 1 United States Dollar
and
Nigeria Naira 0.75 Kobo = 1 British Pound Sterling
however this view has essentially been based on observation of the impact of the Naira devaluation on the lives of Nigeria residents and on the Nigeria Economy since the devaluation started in 1989 ranging from
upwardly spiralling inflation
erosion of disposable income
closure of manufacturing companies
relocation of manufacturing companies to locations outside Nigeria e.g Michelin ( Tyre Manufacturer )
Skills Drain as Medical Doctors and Footballers, for example, relocate to countries outside Nigeria
etc, etc, etc
i am aware that the General Sanni Abacha administration was able to hold the parallel market exchange rate STEADY at Nigeria Naira 85 = 1 US Dollar
Nigeria can, if it wishes, study what that administration did to halt the free-fall of the Naira and stabilize it’s Exchange Rate in the parallel market
and thus learn from the Exchange Rate related activities of that administration and implement the good from it if Nigeria wishes.
there was a rumour that some time ago, Nigeria’s Civilian Democratic President at the time was ill and went abroad for medical treatment and the then Vice-President took over the helm of affairs
and in that period the Naira strengthened appreciably relative to the United States Dollar.
Nigeria can, if it wishes, study what the then Vice-President and/or the folks he worked with at the time did to strengthen the Naira appreciably relative to the United States Dollar
and thus learn from the Exchange Rate related activities of that administration and implement the good from it if Nigeria wishes.
one can learn from and copy what is good.
according to rumours, many companies and factories that closed down in Nigeria thus invariably retrenching? staff/workers and throwing such staff/workers into unemployment/labour market attributed the closure to the impact of the high cost of the US Dollar in Naira terms ( .. and therefore on the low comparative value of the Naira.. ) on their operations.
Salma ohbee nm ( obim ), many of such closures occurred before the Naira value fell to Naira 1000 = United States Dollars 1
and now that rumours rumour that
the parallel market exchange rate
has
continued it’s
continuing
free?-fall?
downwards-fall
comparative to the US Dollar
falling further downwards
from
1120 Naira = 1 US Dollar
just 2 days ago
October 20, 2023
to
1200 Naira = 1 US Dollar
today October 22, 2023
Salma nnmah nm,
Salma nma m,
it may not be a wrong guess to guess that if the Nigeria administration does not quickly find a way to
halt the continuing fall of the Naira
stabilize the value of the Naira at a steady exchange rate
re-envalue / re-strengthen the Naira
things may go more down-hill than they have already done.
Warm Regards, Salma
norrduh orfuhmah
nodu ofuma
remain absolutely superb
Sam
at
https://www.thesamuelojekweblog.com
cc :
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Salma Paralluelo : Salma ohbee nm ( obim ), keh-duh ! ( kedu ) !
calling it the way it is
look, Salma, i really don’t know much about Nigeria and the Nigeria Economy
and the very little that i know about Nigeria and the Nigeria Economy is from the perspective of a resident in the Nigeria location all these past several years.
regarding the exchange rate of the Nigeria Naira comparative to, for example, the United States Dollar or the British Pound Sterling or the European Euro
it remains my view that historically and currently Nigeria has produced brains in areas like Economics, Finance, Banking, Business, etc
( .. refer for example to now deceased i.e late brains like
Dr. Pius Okigbo
Dr. Sam Aluko .. )
and that the accredited brains in these fields who are alive ( .. whether retired or still in active service i.e still working .. )
have the required acumen and ability to sort things out
and put the Nigeria Economy on a positive, productive, forward moving track that will automatically in it’s very own forward trajectory manifest a collateral increase and improvement in the quality of and standard of living of Nigeria residents.
i may be wrong on this. however, i do not guess so.
it is true that i have in the past posted commentary on the internet pages of some folks e.g
Coco i.e Coco Nicole Austin
Taya Christian i.e The Doctor Bae
etc
about a need to re-envalue i.e re-strengthen the Naira
and
also get it back to it’s pre-1989? devaluation value of 1 United States Dollar = 1 Nigeria Naira or thereabouts if my memory serves correctly
and better still to the circa 1974 value of Nigeria
Naira 0.60 Kobo = 1 United States Dollar
and
Nigeria Naira 0.75 Kobo = 1 British Pound Sterling
however this view has essentially been based on observation of the impact of the Naira devaluation on the lives of Nigeria residents and on the Nigeria Economy since the devaluation started in 1989 ranging from
upwardly spiralling inflation
erosion of disposable income
closure of manufacturing companies
relocation of manufacturing companies to locations outside Nigeria e.g Michelin ( Tyre Manufacturer )
Skills Drain as Medical Doctors and Footballers, for example, relocate to countries outside Nigeria
etc, etc, etc
i am aware that the General Sanni Abacha administration was able to hold the parallel market exchange rate STEADY at Nigeria Naira 85 = 1 US Dollar
Nigeria can, if it wishes, study what that administration did to halt the free-fall of the Naira and stabilize it’s Exchange Rate in the parallel market
and thus learn from the Exchange Rate related activities of that administration and implement the good from it if Nigeria wishes.
there was a rumour that some time ago, Nigeria’s Civilian Democratic President at the time was ill and went abroad for medical treatment and the then Vice-President took over the helm of affairs
and in that period the Naira strengthened appreciably relative to the United States Dollar.
Nigeria can, if it wishes, study what the then Vice-President and/or the folks he worked with at the time did to strengthen the Naira appreciably relative to the United States Dollar
and thus learn from the Exchange Rate related activities of that administration and implement the good from it if Nigeria wishes.
one can learn from and copy what is good.
according to rumours, many companies and factories that closed down in Nigeria thus invariably retrenching? staff/workers and throwing such staff/workers into unemployment/labour market attributed the closure to the impact of the high cost of the US Dollar in Naira terms ( .. and therefore on the low comparative value of the Naira.. ) on their operations.
Salma ohbee nm ( obim ), many of such closures occurred before the Naira value fell to Naira 1000 = United States Dollars 1
and now that rumours rumour that
the parallel market exchange rate
has
continued it’s
continuing
free?-fall?
downwards-fall
comparative to the US Dollar
falling further downwards
from
1120 Naira = 1 US Dollar
just 2 days ago
October 20, 2023
to
1200 Naira = 1 US Dollar
today October 22, 2023
Salma nnmah nm,
Salma nma m,
it may not be a wrong guess to guess that if the Nigeria administration does not quickly find a way to
halt the continuing fall of the Naira
stabilize the value of the Naira at a steady exchange rate
re-envalue / re-strengthen the Naira
things may go more down-hill than they have already done.
Warm Regards, Salma
norrduh orfuhmah
nodu ofuma
remain absolutely superb
Sam
at
https://www.thesamuelojekweblog.com
cc :