How Bad Leadership Collapsed Nigeria's Economy !!!

Early in 1986, a new Ph.D. graduate appointed as a University Lecturer in Nigeria earned N7,550 a year. A family size loaf of bread at the time sold for N2.50  and national newspapers sold at 50kobo.

In 1994, eight years later, a fresh Ph.D. graduate appointed to teach in the University earns only N17,731 per annum, but a national daily newspaper sells for N20 per copy, a family size loaf of bread sells for N50, and a liter of petrol (gas), which sold for 39 kobo in 1986, now sells for N11

In 2014, twenty years later, a Ph.D lecturer in University earns nothing less than N3,000,000 per annum, a national daily newspaper sells for N200 per copy, a family size loaf of bread sells for N300, and a litre of petrol sells for N97.

In 2016, twenty years later, a Ph.D lecturer in University earns nothing less than N4,500,000 per annum, a national daily newspaper sells for N200 per copy, a family size loaf of bread sells for N300, a litre of petrol sells for N145

Nigerians, what could be our FATE years to come if corrupt leaders are allow to rule us? Hardship?

For instance, before SAP began in 1986, one dollar exchanged for 77 kobo. When SAP began later that year the dollar exchanged for N1.756  and the main complaint among corporate executives was that there was insufficient foreign currency (e.g., dollars) to exchange for the volume of Naira available. In 2016, the dollar fluctuates between N350- N440

As the dollar exchanged for more Naira, companies became cash-strapped; they could not get enough Naira to exchange for dollars. Majorly, the whole country resort to importation and our presidential system does not favour our economy. Our economy is not favourable to common man.

However, Truth is one stubborn thing, whether one acknowledges it or not, it holds empirical solution to every challenge to mankind.

Therefore, the way out of our trouble is a return to federalism. Let's vote out government that lacks vision. In practical terms, federalism means, among other things, state police, resource control and massive devolution of power from the centre. It means less money for the federal government and more money for the other levels of government. Let every state or geo-political zone or region cater for itself and assign some powers to the centre where matters of common interest are concerned—like defence, currency and diplomacy. This is paramount at this dispensation and will allow for healthy competition and creativity among the components units.


Let's support FEDERALISM and make our DREAMs a reality!