ECONOMY Hell o My
C ountr y
P e opl e featured
article
E verything,
everywher e
all
at
once…say
them
go
feel
it…
On
29th
May ,
our
pr esidents
(former
and
new)
clearly
played
Davido’s
Feel
befor e
he
got
on
stage.
On
day
0 ,
we
collected
gbas
gbos…subsidy
GONE…fuel
price
‑
gbas,
electricity
price
incr ease
‑
gbos,
rate
unification
‑
gbas,
student
loans
‑
gbos.
E verything,
everywher e
all
at
once
or
whatever
that
Asian
movie
is
called.
It
is
painful
but
necessary
Anyway ,
no
need
for
long
talk,
I
am
rationing
ever ything
nowadays,
including
my
words,
let
my
spit
not
also
add
to
my
bills. Let
those
who
have
ears,
hear The
best
way
to
live
right
now ,
is
to
cut
your
coat,
if
it’s
too
small,
please
manage
it
lik e
that.
Small
cover
is
better
than
nak edness
in
the
cold.
Be
encouraged
by
KSA
–
the
legend
and
his
lyrics
from
the
W ay
Forward.
Nigeria
yi,
ti
gbogbo
wa
niK o
ma
gbodo
baje T ori
k o
sibo
miran
ti
a
le
loAjo
o
le
da
bi
ileEja
ka
sowo
po,
ka
f’imo
sokanGbe,
k e
mi
gbe Love
(I
would
normally
say
and
light
but
e
don
cost).
Fruity
J ok
A
pair
o f
slipper s!
e s E dit or ’ s No t e .
W hat
do
y ou
c all
tw o
banana
pe el s ?
Hell o
My
C ountr y
P e opl e
W elc ome
t o
a
Ne w
Dispensat ion
Do
we
even
need
an
article
to
tell
us
that
it's
been
an
eventful
quarter?
E ven
if
you
lived
under
the
r ock,
you
will
still
have
felt
it
(Ask
Abeokuta
people,
fuel
is
now
N500
per
litr e
in
their
ar ea).
In
the
thr ee
months,
so
much
has
changed!
None
mor e
visible
than
the
end
of
the
B u h a r i a d m i n i s t r a t i o n a n d t h e o ffi c i a l
swearing‑in
of
Pr esident
Bola
Tinubu.
While
the
electoral
tribunal
continues,
the
new
pr esident
is
not
wasting
time;
at
this
point,
if
you
miss
the
9
PM
news
(yep,
NT A
is
back
to
giving
us
hot
ex clusives),
you
ar e
on
your
own.
Y ou
see,
it
wasn't
just
Nigerians
who
felt
t h e e ff e c t o f t h e r e m o v a l ; e v e n
C a m e r o o n i a n s a n d N i g e r i e n s a l m o s t
t o o k t o t h e i r s t r e e t s t o d e m a n d t h e
Nigerian
government
to
k eep
paying
the
fuel
subsidy
The
very
next
day ,
NNPC
r eleased
new
prices
by
state;
let's
just
say
if
you
live
in
Maiduguri
or
Damaturu,
the
Lord
is
your
str ength.
While
we
can't
offer
you
much;
we
hope
you
look
at
Altfuel
to
r educe
the
burden
in
this
season.
The
removal
of
fuel
subsidy
mark ed
the
beginning
of
a
tsunami
of
reforms
and
changes,
announcing
to
ever ybody
that
a
new
dispensation
was
truly
underway Sadly ,
amid
this
wave
of
change,
inflation
d i d n ' t g e t t h e m e m o W e h e a rd t h a t
inflation
continued
its
upward
trajectory
to
22.34%,
marking
a
third
consecutive
incr ease,
the
highest
since
September
2005 when
month‑on‑month
inflation
was
r ecorded
as
2 4 .3%.
Y es,
devaluation,
the
r eduction
of
the
value
of
something
(lik e
Chef
Hilda
Bacci
and
……)
and
the
second
gr oundbr eaking
c h a n g e t h a t t h e p r e s i d e n t m a d e I n
N i g e r i a , t h e r e w e r e f o u r e x c h a n g e
windows
(the
bank
rate,
the
Investors
and
Exporters
(I&E)
rate,
the
SME
rate
and
the
popular
aboki"
rate);
now
just
one.
The
new
central
bank
leadership,
after
t h e s u s p e n s i o n o f G o v e r n o r M e ff y
collapsed
the
other
ex change
windows
leaving
the
I
&
E
as
the
official
window They
ar e
telling
us
that
fr om
now
on,
f o r e i g n e x c h a n g e i s o n v i b e s a n d
inshallah (that's
what
they
call
it,
The
Willing
Buyer ,
Willing
Seller
Model). It's
n o w w h at e v e r r at e t h e o w n e r of t h e
dollars
wants
to
sell
it.
The
new
Sheriff
hit
the
gr ound
running
on
the
first
day
when
he
made
the
now‑ famous
quote,
" F uel
Subsidy
is
Gone".
The
chaos
that
day
was
only
outweighed
by
John
Wick
3
Guess
what?
This
figur e
doesn't
even
r e fl e c t t h e e x p e c t e d i n c r e a s e f r o m
subsidy
r emoval
and
FX
devaluation
(the
next
wave
of
) shege
So,
if
I
have
10 , 000
dollars
and
want
to
sell
it
at
N900
per
$1,
as
long
as
I
find
someone
who
will
pay
the
money
for
it,
that's
how
much
I
will
sell.
While
the
CBN
has
said
it
is
a
managed
float
and
they
will
still
r egulate,
we
will
sha
sit
down
in
one
small
corner
and
be
observing.
3
" Uneasy
is
the
head
that
wears
a
cr own.”
S ome
Things
Hav en ’t
C hanged
"Change
is
the
only
constant
thing
in
life"
‑
Heraclitus.
01
S h o u t o u t t o t h o s e w i t h f a m i l y a n d
f r i e n d s ; w h e n e v e r t h e y s e n d t h o s e
pounds;
give
us
some
thr ough
Switch. Despite
attracting
accolades
fr om
the
i n t e r n a t i o n a l c o m m u n i t y a n d s o m e
economists,
it
has
left
people
with
japa
plans
sulking
as
the
famous
CBN
rate
disappear ed,
incr easing
pr oof
of
funds,
school
fees
and
other
expenses
by
over
65%.
Normal,
sapa
has
been
holding
us,
but
after
this
decision,
Dangote
still
dey
fi n d m o n e y b e c a u s e e v e n D a n g o t e
became
poor er
(so
who
am
I?).
I t d o e s n t n e c e s s a r i l y m a k e i t a b a d
decision;
it's
just
something
that
should
h a v e b e e n d o n e s i n c e t o r e fl e c t t h e
a c t u a l s t a t e o f t h e f o r e i g n e xc h a n g e
mark et, so
no
vex
abeg.
While
we
wait
for
Dangote
r efineries
to
start
working,
we
can
only
hope
that
the
global
oil
price
curr ently
at
$75
per
barr el
does
not
incr ease,
or
else
another
price
incr ease.
A
P at h
f or
t he
Futur e
Ther e
ar e
thr ee
constant
things
in
life;
c h a n g e , t a x e s ( w h i c h w e h e a r c o u l d
affect
diesel
importers)
and
the
ASUU
strik e.
However BA T
has
said
he
wants
to
g i v e t h e s c h o o l s ( f e d e r a l a n d s t a t e )
autonomy;
in
his
speech
at
a
town
hall
meeting,
he
explained
how
education
was
the
cur e
to
poverty ,
and
it
should
not
s t o p p e o p l e f r o m r e c e i v i n g q u a l i t y
education.
So,
boom꞉ The
Student
Loan
Bill.
Y es
oh,
that
bill
gives
eligible
students
access
to
t u i t i o n f e e s p r o v i d e d t h e y m e e t t h e
r equir ement ,
if
they
ever
can.
Y ou
would
think
that
Oga
BA T
should
stop
at
these
two,
but
no,
he
has
in
the
last
30
days
(we
might
miss
out
on
some
because
of
the
time
of
writing;
blame
Aunty
Chidinma)
signed
thr ee
bills
and
still
had
time
to
hang
out
with
Bill
Gates.
He
is
also
shaking
things
up,
fr om
Uncle
M e ff y t o E F C C t o b o a r d s o f f e d e r a l
g o v e r n m e n t p a r a s t a t a l s a n d s e r v i c e
chiefs.
While
this
is
expected
for
every
n e w a d m i n i s t r a t i o n , t h e s e d e c i s i o n s
d o n e w i t h s p e e d h a v e i m p r o v e d
investors'
confidence
in
the
country's
mark et.
Following
the
pronouncement
of
these
policies,
the
equities
mark et
has
rallied
positively ,
gaining
15 .1%
year
to
date.
Another
bill
you
might
need
to
meet
is
the
electricity
bill
which
is
set
to
incr ease
unfortunately
fr om
today For
those
that
use
pr obably
won't
notice
sha;
Imperium we
got
them
cover ed.
T h e g o v e r n m e n t s e y e i s e v e n o n a
bigger
priz e,
r emoving
the
running
cost
for
federal
educational
institutions.
In
the
year
2022,
for
example,
the
federal
g o v e r n m e n t s p e n t m o r e t h a n N 1 6 9
billion
on
the
running
cost
of
universities.
However ,
in
r ecent
times,
it
has
been
m u l l i n g u n i v e r s i t i e s ' a u t o n o m y t o
c o m p e t e o n t h e i r o w n a n d h e l p t h e
government
save
costs.
It
looks
lik e
the
new
government
is
taking
a
bold
step,
so
school
fees
ar e
definitely
going
up.
The
flip
side
is
ther e
might
be
no
mor e
r eason
to
strik e.
4
Mee t ing
Bills
breet
" No
matter
how
short
a
man
is,
he
will
still
see
the
sky .”
While
ther e
have
been
a
lot
of
events
in
the
last
30
days,
everybody
agr ees
that
these
decisions
had
to
be
made,
and
it
would
benefit
all
of
us in
the
long
run. However ,
ther e
ar e
two
concerns.
Firstly ,
these
r eforms
seem
to
be
mor e
on
the
citiz ens;
several
cuts
on
subsidies,
tax es
and
r eforms
mean
that
the
cost
of
living
is
on
the
rise
and
the
government
c a n s av e m o re I f w e a re a s k i n g t h e
c i t i z e n s t o m a k e c o m p r o m i s e s f o r a
glorious
futur e,
the
government
needs
t o s h o w c o m m i t m e n t t o i n s t i t u t i o n a l
r e f o r m s a n d c u t d o w n u n n e c e s s a r y
spending.
Secondly , the
government
needs
to
help
cushion
the
effects
of
these
policies.
The
drastic
change
in
cost
and
expenditur e
is
def
going
to
sapaliz e
all
the
idans,
which
is
an
issue
for
all
because
we
need
our
idans.
Ultimately ,
if
everything
is
done
well,
we
could
be
on
our
way
to
the
Nigeria
of
our
dr eams.
It's
been
a
crazy
quarter ,
but
as
we
look
forward
to
the
futur e,
we
can
only
hope
for
the
best
and
beg
everybody
involved,
" Let
the
poor
br eet!"
Introducing
W orld
W ar
S ap s
L e t
t he
P oor
Br ee t!
