THE SHOCKS IN THE ECONOMY: WHAT THE EXPERTS WONT TELL YOU!

There is no doubt that the economy is growing in Nigeria. The only tragedy is it is growing into the pockets of 15 percent of our vast 170milion people! With the dip in the prices of oil, government is going to be under pressure to raise money to balance out. So prepare for a raise in the prices of utilities: electricity, water and even telecoms! Petroleum prices will go up! Anything we import will cost more: wheat, rice, cooking oil and sugar. These are the major food imports to Nigeria. Do not let the figures the Agric ministry shows fool you. Nigeria is still importing close to 40 percent of food products consumed. We will pay more to import fuel so thats why the price might go up and the subsidy they claim to add because they have been too lazy to finance the building of refineries will cost the Nigerian public dearly. The tax man will come knocking at doors and tariffs on certain products will go higher when the government is looking for revenue to run the economy.
All this will not be done until after the elections. The managers of our economy have been caught napping and it is the Nigerian masses that will pay for it. The politicians will continue to feed fat on the economy and even if there is a change of government at the centre which is unlikely(have you ever seen an incumbent lose in Africa) even the APC does not have immediate solutions to all these problems. Our debt is big and nobody is talking about servicing it! We will continue deficit budgeting and consumption. Okonjo Iweala does not have a way out. She has presided over a wasteful consumption of resources. It is a shame!