The Guardian Newspaper’s editorial of Monday, 13th June proffered what it considers a plausible alternative to Central Bank’s recent directive on cash withdrawal/deposit limits with Money Deposit Banks. Indeed, Nigerians have largely been agitated by CBN’s advance notice of daily cash withdrawal/deposits limits of N150,000 and N1 million for individuals and corporate bodies respectively, as from June 2012, in place of current limits of N1 million and N10 million respectively.

Echoes of the unsuccessful bid to foist former President Olusegun Obasanjo on the nation for a third consecutive term in office continues to reverberate five years after the event. Although there were speculations that the intentions of the promoters of constitutional amendment for this purpose were not truly altruistic

I recall that, Late President UmarYar’Adua (God bless his soul) crystallized a 7-Point Development Agenda, which unfortunately, failed to impact positively on the social welfare of the critical mass in our country. Some critics believe that Yar’Adua would have done better if he focussed on two or three critical areas of deprivations for urgent attention and remedy.

Inadequate power supply has choked the development and growth of Nigeria’s economy, particularly in the last two decades. The Punch Newspapers editorial of 22/3/2010 explicitly paints this reality. That editorial specifically notes that “Poor power supply has been at the heart of the nation’s wobbly manufacturing sector whose capacity utilization has today plunged to 29 per cent.

Since the first publication ofthis article in January 2011,the unlikelihood of a beneficent impact of the 2011 budget has been given impetus by the National Assembly’s increase in consumption budget by N433bn and CBN’s increase of Monetary Policy Rate to 7.5%.