Is Nigeria’s Economy Going Down the Same Path With Argentina and Zimbabwe?

A CALL TO ACTION
By: Longdeet Elijah

17TH FEBRUARY, 2024

Nigeria, a country known for its vibrant culture and diverse population, is currently facing economic challenges that are causing concern amongst its citizens. The inflation rate is on the rise, leading to a rapid depreciation of the Naira. As a result, the cost of living has skyrocketed, with prices of goods becoming increasingly unaffordable for many Nigerians, especially the poor.

If Nigeria continues on this path, there is a fear that it may end up like Zimbabwe and Argentina, where hyperinflation and economic collapse have led to extreme poverty and suffering for the populace.

For example, when things get down the same path with Argentina and Zimbabwe then some of following may happen or even worst;

πŸ‘‰πŸ½One measure of Sugar will be around #20,000
πŸ‘‰πŸ½A bag of foreign rice will be approximately #300,000
πŸ‘‰πŸ½Bag of cement will be approximately #50,000
πŸ‘‰πŸ½Price of cooking gas per kilogram will be around #5,000
πŸ‘‰πŸ½A Kilogram of meat will be around #10,000

To prevent such a dire situation from occurring, urgent action needs to be taken to address the economic challenges facing Nigeria. The government must implement effective measures to stabilize the economy, curb inflation, and improve the standard of living for all its citizens. It is crucial that steps are taken now to prevent Nigeria from following the same path as Zimbabwe and Argentina. The future of the country and its people depends on it.

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Is Nigeria’s Economy Going Down the Same Path With Argentina and Zimbabwe?

| Opinion |
About The Author
- Friday Bako is Certified National Accountant (CNA), Blogger, Social Media Influencer/Strategist, Youth Activist and Advocate for good governance.