CBN monetary policy alone (without Diversification and Import
Substitutions) is insufficient to bring about the desired level of economic
output growth needed to take Nigeria out of recession and poverty.
Follow this Story line:
"Mr. David Ahmed Okoro started the day early, having set his
alarm-clock (MADE IN FINLAND) for 6am.
While his teapot (MADE IN CHINA) was perking, he shaved with his
clipper (MADE IN HONG KONG).
He put on his shirt (MADE IN THE UK), and designer jeans (MADE IN
ITALY) and shoes (MADE IN THE USA).
After cooking his breakfast in his new electric cooker (MADE IN
INDIA), he sat down with his calculator (MADE IN MEXICO) to see how much he
could spend today.
After setting his wristwatch (MADE IN TAIWAN) to his radio (MADE
IN VIETNAM) he got in his car (MADE IN GERMANY) filled with petrol imported
from (SAUDI ARABIA) and continued his search for a good paying NIGERIAN job...
At the end of yet another discouraging and fruitless day, checking
his computer (MADE IN MALAYSIA), David Ahmed Okoro decided to relax for a
while.
He put on his slippers (MADE IN BRAZIL) poured himself a glass of
wine (MADE IN SOUTH AFRICA), while fiddling with his mobile phone (MADE IN
SOUTH KOREA), and then wondered why he cant find a good paying job in...
NIGERIA.
He turned on his TV (Made in Japan) and watched Nigerian minister
for Agriculture speaking on how difficult is it for CBN to meet up the weekly
forex demands to the tune of $2.5bn by Nigerians to import anything and
everything amidst the scarce forex in Nigeria.
Mr. David Ahmed Okoro felt achy and sore in his left kneel, he
decided to take two tablets of his TRAMADOL TABLETS (MADE IN BANGLADESH) to
relieve the pain.
Lying down on his bed (made in UAE) and wondering why NIGERIAN
External Foreign Reserve has depleted to under $26bn which has translated to
free fall depreciation of Nigerian NAIRA to US DOLLAR at INTERBANK AND PARALLEL
MARKET RATES…
In his kitchen, he has Rice (made in Thailand), Palm oil (made in
Malaysia), Wheat Flour (made in Brazil), De-Rica Tomatoes Paste (Made in China)
and Sugar cubes (made in Netherlands)."
Nigeria must produce In Nigeria what they consume, before any of
the monetary policy of CBN can make sense!
Only MADE in NIGERIA goods and items can grow Nigeria economy and
help create jobs for the millions of jobless Nigerians.
Any nation that import majorly foreign made goods rather than
producing their own are hurting its people....
When we keep importing foreign made products into Nigeria, we keep
importing poverty into our country and exporting jobs abroad...
PLEASE SHARE FREELY TO ENLIGHTEN ALL NIGERIANS
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