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Showing posts from August, 2022

CAUSES OF CURRENT HIGH INFLATION RATE THROUGH A LENS OF REALITY

The PANDEMIC - created problems within the supply chain  Workers laid off affected the production of essential commodities like electronic chips, processed foods, baby foods,etc. The supply chain disruption caused congestion at the shipping ports and delayed the distribution of goods. Many ports are still not operating at the level of efficiency pre-pandemic. Ukraine-Russia war caused a shortage of petroleum products and a hike at the pump - this hike is transferred to consumers, and everything that needs to be shipped has experienced a price hike; Ukraine and Russian combined supply over 25% of global wheat need and a significant amount of sunflower oil among other agricultural products - the blockage at the Ukrainian ports by Russia is causing global shortage of foods and hence, the high price of many essential food items. Shortage of labor. Human movement was curtailed by the pandemic; there was also "the great resignation" - many quit their jobs since the pandemic bro

NEWS FROM NIGERIA - THE NATION IS BROKE and NEAR BANKRUPTCY

Buhari's government has finally ruined Nigeria in less than 8 years in office, our monthly debt servicing is now more than our revenue... Very soon, Nigeria will declare bankruptcy.... soon, we will not be able to pay salaries again and our creditors will begin to take over our country. How can a country so blessed be this poor? When Buhari's government was borrowing money for white elephant projects (projects that are not bringing return nor advancing our economy in a way to bolster the nation's revenue) and the likes of Fashola and Amaechi (who have allegedly become billionaires in dollars) were justifying the need to borrow to stupor, we told them they are selfish. The corruption that ruined Nigeria is not just from the politicians alone, most of it comes from ordinary Nigerians - civil servants. Civil servants entrusted with the duties of administration have created artificial bottlenecks in order to fleece everyone they are supposed to serve including other parastatal