Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,161,501 members, 7,847,076 topics. Date: Saturday, 01 June 2024 at 10:34 AM

Our Majour Economic Problem. - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Our Majour Economic Problem. (172 Views)

2023: Peter Obi Unveils Seven–Point Economic Master Plan / Tinubunomics: Dissecting Tinubu’s Economic Track Records - Nairametrics / Biography: Profile Of Adedoyin Salami, Chairman, Newly Constituted Economic Team (2) (3) (4)

(1) (Reply)

Our Majour Economic Problem. by Soulmender: 7:03am On Aug 04, 2022
*DO YOU STILL REMEMBER 42 YEARS AGO*

*Nigerians Are Talking To All Our Presidential Candidates:*

In case you don't know the *Root Cause* of our problems today, please take time out and read the below stated:

As of *23/04/2022*, the exchange rates were:

*£1 = ₦783*
*$1 = ₦560*
*€1 = ₦670*

42 years ago, precisely on *23/04/1980*, the exchange rate of 1USD was:
*$1 = 0.78k*

*Are you surprised?*

Well, we were far more productive nation in 1980 than what we are today.

In 1980, the key reasons for economic growth were as follows:

1. *We were a net exporter of refined petroleum products. Today, we import all our refined petroleum products*.

2. *We rode in locally assembled cars, buses and trucks. PEUGEOT cars in Kaduna and VOLKSWAGEN cars in Lagos*.

3. *LEYLAND produced trucks/buses in Ibadan and ANAMCO in Enugu also produced buses and trucks*.

4. *STEYR in Bauchi produced our Agricultural tractors. And it was not just Assembly, they were producing many of the components:*

5. *VONO products in Lagos produced the vehicle seats*.

6. *EXIDE in Ibadan produced the batteries, not just for Nigeria but for the entire West Africa*.

7. *IsoGlass and TSG in Ibadan produced the windshields*.

8. *FERRODO in Ibadan produced the brake pads and discs*.

9. *DUNLOP produced Tyres in Lagos and MITCHELIN Tyres were produced in Port Harcourt. And I mean tyres produced from rubber plantations located in Ogun, Bendel and Rivers State*.

10. *We were listening to Radio and watching television sets assembled in Ibadan, by SANYO*.

11. *We were using refrigerators, freezers and Airconditioners produced by THERMOCOOL and DEBO*.

12. *We were putting on clothes produced from the UNTL TEXTILE MILLS in Kaduna and CHELLARAMS in Lagos. They were Not from imported cotton but from cotton grown in Nigeria*.

13. *Our water was running through pipes produced by KWALIPIPE in Kano and DURAPLAST in Lagos*.

14. *Our toilets were fitted with WC produced in Kano and Abeokuta*.

15. *We were cooking with LPG gas stored inside gas cylinders produced at the NGC factory in Ibadan*.

16. *Our electricity was flowing through cables produced by the Nigerian WIRE and CABLE, Ibadan; NOCACO in Kaduna and KABLEMETAL in Lagos and Port Harcourt*.

17. *We had BATA and LENNARDS Stores producing the shoes we were putting on. The shoes were not from imported leather, but from locally tanned leather in Kaduna*.

18. *We were mainly flying our Airways*, (THE NIGERIA AIRWAYS), *to most places in the world. The Nigeria Airways was about the biggest in Africa at the time*.

19. *Most of the foods we ate were grown or produced in Nigeria*.

We were producing all of the above and many more in 1980

Today, we import almost everything.
Isn't that alarming?

There lies the source of this terrible exchange rate we are experiencing today, and everyone reading this has a critical role to play in reversing this very UGLY trend, by voting in the right candidate.

We have been talking about these problems and more for ages.

It is not enough for us to complain about the exchange rate or point out what others are not doing or are failing to do. The key questions are:

1. What are we producing now?

2. What role are our so- called Leaders/ Politicians of today playing?

Some have even gone as far as storing Dollars, Pounds and Euros in their houses, causing this huge shame to our economy.

We are forever shying away from our responsibility, whereas it is a stack reality and if we don't deal with it, it won't go away.

In fact it will get worsened.

To all our dear Nigerians and Politicians, let joke apart and I believe you know the truth, *who amongst these Presidential candidates do you think that is selflessly thinking about bringing back these past glories of Nigeria?* ✅��

Nigerians are now saying, if you don't have the capacity to *RESET* Nigeria to what it was, at least, back in 1980 then, please stay in your house and don't come out at all to waste our time.

*ENOUGH IS ENOUGH !!!*

Please share widely on all platforms, for Nigerians, especially the youths, to know how important it is, for our lovely country, Nigeria to be fixed again. COPPIED
Re: Our Majour Economic Problem. by Simeonjoe1: 8:15am On Aug 04, 2022
With this takes of producing everything a 1$ = 1# would still put us at the disadvantage. We do not need 1$ to 1naira,

(1) (Reply)

If It Was Like This... It Would Have Been Better... / Mr. Peter Obi, Call Your Supporters To Order, Falsehood And Disinformation Will / You Are Possessed By The Spirit Of Ignorance: Wike Tells Thisday Columnist

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 16
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.