By Charles Okeibunor
Subsidy Gone!
Gone to where?
Float Naira, let it compete.
Compete on the basis of which balance of trade?
But under pressure to impress or prove a point you create the scorpion effect.
We now have more scorpions in town.
The queues are back.
Dollar traded at N1900 yesterday in the parallel market.
So, to renew my coaching license next month, it will cost my colleagues and I about N465,000
Here is the irony, even though I am paying more to the International Coaching Federation to stay licensed, I am working for clients who can’t pay me more than they can afford. So coaches are renewing their license in dollars but earning in Naira😊.
PZ Cussons has recorded a net asset position for the first time in 125years, the company went from half year 7.6billion naira profit to 74billion naira loss by year end.
Nigerian Breweries on the other hand has recorded its worst loss since they came into Nigeria in 1946. N143. 5 billion in pre-tax loss.
My take to Mr. President, Asiwaju Bola Ahmed Tinubu is that when you do not have sufficient information to make a decision, it is best to maintain status quo.
Emilokan.
Charles Okeibunor is a lawyer & founder of IRMP (Identification, Resolution, Management, and Prevention)
