IN last week’s article, the advantages of a stronger naira exchange rate were identified; these benefits include much lower inflation and interest rates, increasing industrial expansion, with rapidly rising employment opportunities.    This writer also explained why a stronger naira will eliminate fuel subsidy and also reduce the size and cost of our national debt.    (See “Advantages of a Stronger Naira” at  www.lesleba.com).

IN an earlier article, (May 2014), this writer explained why further naira devaluation would constrain demand and economic growth, and also deepen poverty.  Furthermore, an unyielding, suffocating, self-inflicted, unusual burden of surplus Naira was also identified as the primary cause of weaker Naira exchange rates, despite, relatively, bountiful dollar reserves, since 1999.”

HOUSEHOLDS have become severely traumatized, nationwide by the escalating prices of goods and services, particularly in the last six months or so.

The evident danger to public health from handling dirty, grimy and bacteria laden Naira notes in millions of transactions every day, should spur government to reconsider revamping the present repulsive profile of the Naira. The above title examines the need for a stable, sustainable and cleaner Naira profile (earlier published August 2008 in Punch and Vanguard newspapers). Please read on: 

HIS column has consistently maintained that the root cause of our economic paradox of increasing income, with unbridled rate of unemployment, and deepening poverty will be found in the conscious but incorrect adoption of a faulty and distortional process for the infusion of our crude export dollar revenue into the economy.

“AS I speak to you, our external reserves stand above $31bn and that provides us with enough fire power to be able to defend the Naira (N305=$1)” (Godwin Emefiele CBN Governor, April 25th, 2017).

THE acute scarcity of petrol nationwide may have receded significantly, but issues relating to steady supply, appropriate pricing and fuel subsidy, obviously still remain very contentious. Government and NNPC have invariably blamed private marketers for the fuel shortage, while marketers have conversely, demanded the immediate payment of over N720bn that NNPC owes them.

Thankfully, fuel stations have gradually reopened for ‘normal’ business, while the severe social agony and angst instigated by the recent acute scarcity, has significantly eased with the reported improvement in NNPC’s fuel stock.

NIGERIANS were probably jolted by the Petroleum Minister, Ibe Kachikwu’s confirmation to a National Assembly Committee, last week (4/1/18), that the current landing cost of petrol is about N171/litre, i.e. well beyond the present N145/litre regulated pump price. Instructively,  the deregulated price of petrol is about $1.00(N305)/litre in nearby Ghana.

NIGERIANS are obviously outraged by allegations of a deliberate arrangement by marketers to foster fuel scarcity, during major public holidays, especially the year end festivities. Indeed, low and stable pricing and the elimination of scarcity were campaign platforms of the current administration.