The economy is dy!ng. The policy makers (Central Bank of Nigeria) know and are already warning with specificity
The political class response is to divide and distract
Guys I am not being alarmist, the economy is failing, it’s NOT MY DATA, OR ANALYSIS, i will quote
1. “Economic activity has been contracting for EIGHT CONSECUTIVE months, mainly due to exchange rate pressures, rising input prices, security challenges, and other idiosyncratic headwinds”
2. “Composite Purchasing Managers’ Index declined sharply to 39.2 index points in February 2024 from 48.5 index points in the previous month.”
3. “Both food and core inflation rose in February 2024, underpinning an acceleration in headline inflation to 31.70 per cent in February 2024 from 29.90 per cent in the previous month. This continued rise in inflation was mainly due to high production costs, lingering security challenges and exchange rate pressures,”
All quotes from CBN
Is this an environment that can attract FDI? When the Nigerian companies ALREADY in Nigeria are not buying or investing?
Abuja, we have a problem.
– Kalu Aja
Peoplesmind