FALL OF NAIRA TO THE DOLLAR, DON'T BLAME BUHARI.

FALL OF NAIRA TO THE DOLLAR, DON'T BLAME BUHARI.
Sen. Ben Murray Bruce.
Many Nigerians are complaining about the constant
fall in
the value of the Naira and they blame the
Government.
But is the government really to blame? In truth,
our
insatiable appetite for all things foreign is to
blame.
I always fly Arik Business Class whenever I am
traveling
abroad except Arik does not fly on that route.
Not only is an Arik ticket a fraction of the cost of a
British
Airways ticket, but the money I pay to Arik
circulates in
Nigeria and helps firm up the Naira's value.
As I speak to you today, a British Airways Business
to
London is ₦2,103,666 while Arik Business is
₦551,545 yet
our elite still fly BA
But though Arik offers an affordable alternative to
British
Airways and other foreign airlines, our big men
prefer to pay
double what Arik charges to BA and other foreign
airlines for
the same services and yet they complain about the
value of
the Naira.
I have Nasco cornflakes and I have eaten Kellogs
cornflakes.
In terms of nutrition and taste they are almost
indistinguishable. Yet our elite who will rather eat
Kellogs
than Nasco cornflakes, wonder why the Naira is
falling!
Even something like Quaker Oats can be
substituted with
corn meal known locally as pap.
Obasanjo Farms of Nigeria and other large scale
poultry
farms have the capacity to provide chicken for the
entire
nation. Since that is the case, why are we even
buying
imported chicken?
In fact what is wrong if every family in Nigeria has
a poultry
in their backyard to give them eggs and meat?
My steward went to Makoko, which is one of the
largest
fishing communities in Lagos. He wanted to buy
fish and
they were selling imported frozen fish!
Yet in the very waters in front of them, there exist
fresh fish
that is more nutritious than the cheap frozen fish
they were
selling.
We keep spending over 1 Billion Naira importing
rice when
our own farmers are capable of meeting our
national
demand for rice. But for some reason, Nigerians
just prefer
to buy imported rice.
The imported rice we buy in Nigeria is not as good
as our
local rice because it has been stored for years in
silos and
treated with chemicals.
Moreover, every time you buy it, your money is
going out of
Nigeria to service an economy in Asia. The end
result is that
their currency gains value while ours loses value.
Have you ever wondered why European
Premiership Clubs
are so interested in Nigeria? It is because
Nigerians spend
billions traveling to Europe to watch their games,
buy their
merchandise and promote their leagues.
Yet, back at home, we would not be caught dead
watching
our own local league.
If we will not spend money on made in Nigeria
goods and
services, how can we expect our Naira to hold its
value and
appreciate?
Obviously we can not cut ourselves off from the
world. No
nation is an island, but at least we can fly Nigerian
airlines,
eat locally produced food and patronise our
football league.
If we do this, not only will our economy grow and
produce
jobs for Nigerians, it will also make our goods and
services
improve in value such that they will be attractive
enough to
be imported.
I bought Innoson vehicles as official cars for my
staff. I have
never lived to regret it one day. They are
comfortable and
durable. But most of all, I know that my purchase
helps to
keep jobs in Nigeria and improve the value of the
Naira.
I urge you to do the same. We have no other
country but
Nigeria and it is you and I that will make it what it
is.
If we buy Naija We Will Grow Naira
My name is Ben Murray-Bruce and I just want to
make
Commonsense!
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