Devaluation of the naira,set to begin on the 20th of June.
According to BBC report, after the CBN has struggled to keep the naira on its fix at 197 and have refused to devalue, therefore stiffling imports. It has been a backlash as the black market rates is now up to 367 nd has caused a rise in commodity and shortage of machinery and orther important products for business.
Devalued naira would make domestic products cheaper and imports more expensive, and also attract investors. Hopefully this is would help the economy.
The media is now a conucopia of sentimental repatoire from different government officials, its funny that they still have that time. This is when manufacturing should be taken by the horn.Universities should be spurred up to carry out researches as per needed quota of food/energy /e.t.c per state. We need to have these ready made researches.
While as a citizen of the country you are ready with you venture either as a group, community or person so when the funds start coming(because we know they would come) you can source for advantage in domestic production.
Stay on to express blog to receive news on grants,exhibitions and loan opportunities in our business/economy page.
we want to see your comments..
According to BBC report, after the CBN has struggled to keep the naira on its fix at 197 and have refused to devalue, therefore stiffling imports. It has been a backlash as the black market rates is now up to 367 nd has caused a rise in commodity and shortage of machinery and orther important products for business.
Devalued naira would make domestic products cheaper and imports more expensive, and also attract investors. Hopefully this is would help the economy.
The media is now a conucopia of sentimental repatoire from different government officials, its funny that they still have that time. This is when manufacturing should be taken by the horn.Universities should be spurred up to carry out researches as per needed quota of food/energy /e.t.c per state. We need to have these ready made researches.
While as a citizen of the country you are ready with you venture either as a group, community or person so when the funds start coming(because we know they would come) you can source for advantage in domestic production.
Stay on to express blog to receive news on grants,exhibitions and loan opportunities in our business/economy page.
we want to see your comments..
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