The Nigerian economic situation is getting worse as the day goes by. The dollar rate is on the high side and prices of essential commodities have skyrocketed in recent times.
In the history of Nigeria, it has never been this bad economically. The naira has lost value against almost every notable currency in the world, which is of course unhealthy for our purchasing power.
With the situation of things economically, one would agree that except there is divine intervention, the economy is on the verge of collapse and is already shutting down.
The signs are written all over with the unceasing increase in dollar rate, prices of essential commodities and many others.
Before things got worse, one of the notable voices that called the attention of President Muhammadu Buhari was Primate Elijah Ayodele, the leader of INRI Evangelical Spiritual Church.
Five months ago, Primate Ayodele released a statement that the Nigerian economy will shut down in 32 weeks. From May, 32 weeks would be around October which is just one month to go.
He didn’t just say this, he made this statement to warn President Muhammadu Buhari and also to advise him on what to do in order to prevent the economy from shutting down because the last thing a president wants to experience is his economy shutting down.
Primate Ayodele gave some spiritual advice to the President and told him to come up with a strong economic team in order to prevent this. He also talked about bringing back subsidy instead of removing it completely but was this advice followed? NO.
He also mentioned that President Buhari will request a brutal loan which will cause more havoc to the economy. We could see this happening when President Buhari on Wednesday, September 14th, 2021 wrote to the National Assembly for approval to borrow another $4 billion, €710 million which will make the country’s debt to be N2.2 trillion.
According to Primate Ayodele; “If the government of Nigeria doesn’t do the right thing about the economy, Nigeria’s economy may shut down in the next 32 weeks. This will affect Central Bank, NNPC and revenues.”
“Government must come out with a very strong economic team in order to curb another economic pandemic that will even affect banks, government, salaries of the workers and pensioners.”
“Nigeria will be on a brutal loan, there will be so much loan, they must review subsidy, and bringing back subsidy will help Nigeria’s economy to grow than removing the subsidy completely.”