Africa’s largest economy suffers hard times as oil price
drops and scarcity of Foreign currencies; particularly the US Dollar. This has
led to an alarming increase in exchange rates. Nigerians groan since much of
our trading is import dependent. The Naira yesterday dropped to a record low of
390 to a dollar. Nigerians are already desperate and lots of panic-buying is
going on.
This brings to mind an issue that has been in existence for
quite a while now. Nigeria is largely a consumer nation. This stems from two
factors- a lack of appreciation for our own and a low standard of production.
The prevalent mentality is profit, profit, profit while little or no attention
is given to quality. We would do ourselves a great deal of good by looking
‘inside’ to harness the skills and talents embedded in the country. Nigeria is
talent-rich. A little more confidence in ourselves will go a long way in
growing our economy thus reducing our dependence on imported goods.
Meantime, we are keeping our fingers crossed and hoping for
a more stable Naira.
At CIT Bureau De Change, we are geared up to solve all your foreign exchange challenges. Please contact us on +234 1-4547432, +234 7058993528 or click the link below for further inquiries.
Thank you.
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