Is it not said that the value of money is what it can buy? That is - TopicsExpress

Is it not said that the value of money is what it can buy? That is elementary economics which nobody needs to be taught. It is therefore easy to know that the naira will keep depreciating so long as Nigerians import all manner of goods and services but export little or nothing. Even the oil that fetches 90 per cent of our revenue is extracted by foreigners with foreign equipment. The same oil is brought back into the country as refined products. Chei! The coup plotters of the 1980s and ‘90s missed mentioning this paradox in their coup speeches, obviously because our refineries were working then. For no nation that protects its pride would let this happen: an oil-rich nation importing almost all of its fuel needs.

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