Austerity is looming, Naira purchasing power in world market is - TopicsExpress

Austerity is looming, Naira purchasing power in world market is falling. Windfall from Crude oil disappeared and massive looting from President Jonathans administration.Tough economic times are awaiting us in nigeria. Our entire nation will feel squeeze from dropped in Price of Crude oil. and Naira purchasing power. Allocations among the states will reduce tremendously , With less allocation to pay for the full spectrum of government services because of declining in crude oils price, revenues and increasing debt, deep cuts in expenditures would seem inevitable. A reduction in government spending, however, is usually a last resort as long as legislators permit deficit financing of what government provides for its citizens.

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