Sad drop in economic performance: WHAT IF BUHARI REVISED HIS COPY ?
In recent months, the country has been going through its worst economic performance.
On Monday, August 24, 2020, the National Bureau of Statistics reported an approximate -6.1% economic recession recorded during the second quarter of the year. A heavy blow to the back of the Nigerian economy that is not at its end when we note that many more recessions are on the horizon for the days to come.
Despite the implementation of the emergency plan of 2300 billion Naïras, the Minister of Finance, Budget and National Planning, Zainab Hamed indicated on Thursday, August 27, 2020, that she expects a recession at the end year. CardinalStone, for its part, projected a recession of around -4.6% by the end of the year.
Although the global health crisis could be indexed as the fundamental reason for this economic difficulty, it is visible that the draconian posture of the country to keep its land borders closed is the most obvious of the causes.
The average Nigerian is now struggling to eat because of the soaring prices of basic necessities. Indeed, the rice, pasta or edible oils that the citizens of the country often re-exported from Benin, finally to enrich the market stock, are in glaring insufficiency.
Useless to broach the question of the accentuated devaluation of the Naïra which actively participates in the suffering of the country.
This closing of the borders thus paints the current mandate of Muhammadu Buhari as head of the country in black.
A situation which, no doubt, does not suit the man and risks turning sour for the country if the government does not consider it at its fair value.
Historically, no country has been able to establish a system of self-sufficiency because very few people have most of the raw materials in sufficient quantities to meet their own needs. Even the Berlin wall, which has been made to believe to constitute an autarchic barrier at the minimum terrestrial, has been the seat of thousands of controlled and illegal crossings; of several agreements and modus vivendi between authorities.
Borders being a separative invention of the settler, one could well wonder about the real motivations of the first Nigerian citizen.