Tanzania's President Samia Suluhu has fired an entire electricity board over repeated blackouts.
She dissolved the Board of the Tanzania Railways Corporation due to mismanagement of $215 million in April.
She sacked the CEO of Tanzania Government Flight Agency over a $49 million fraud.
Governance is not rocket science but PDP spent 24 years in Abia making us believe it is yet in 3 months, @alexottiofr has done so much to change that narrative.
May God bless Abia state and May Alex Otti succeed 🙏🏻🙏🏻🙏🏻🙏🏻.
Nigerian electricity will never improve quickly as long as Aso Rock uses Generators
Primary healthcare will never improve as long as Governors' kids get measles vaccinations abroad
Primary education in Nigeria will be a joke until the Local Government Chairman kids attend those schools
But you will argue
China and India are not just direct competitors but they are engaged in border skirmishes with their individual armies.
Yet they understand the benefits of a united "South" v the Western Northern market.
You are saying BRICS won't work because Nigeria didn't join.
But your largest trading partners are India and China. Your foreign reserves are in $, you don't see the synergy of joining BRIC and getting West Africa to use the Naira and trade with India and China, thus making the Naira stronger as the de facto ECOWAS reserve currency,
Your entire economic thesis is built around a human not principles of economics, trade, and finance.
Rest
What BRICS will work on is a settlement mechanism. This means they will not seek to replace the US Dollar (they can't); rather, they will seek to ignore it by settling trades in their native currencies.
Thus, a Nigerian can use any BRICS currency, say Rand, and import goods from Argentina or China. The BRICS Settlement Bank or portal will calculate the weighting of that currency and debit/credit the nation involved.
Thus, nations like Argentina or Venezuela with weak currencies may decide to trade on that portal with Brazilian Real and import from China, no dollar needed. Argentina/Venezuela will then have its method to settle with Brazil.
This means Egypt and South Africa will have a huge advantage in Africa. Nigerians can then exchange Naira for the South African Rand or Egyptian Pound and import from China, no dollar needed. This boosts the South African Rand and Egyptian pound, but it may help Nigerian importers.
No company does the sort of trade between the US and Nigeria that MTN does between SA and Nigeria. A firm like MTN will be able to do a huge multi-billion Swap deal between Naira and Rand and sell that position to Nigerian banks to sell to Nigerian importers/Exporters, so not all bad for Nigeria.
It was a missed opportunity for Nigeria not to have joined BRIC when it was formed. It's a missed opportunity for the Naira;
Dear new Minister,
The best way to succeed is to remove roadblocks and get out of the way, the Nigerian entrepreneurial spirits will do the rest.
E.g. you want $, break the monopoly of CBN, license GSM companies as BDCs, allow Nigerians legally and with KYC use WhatsApp and transfer $ from Atlanta to Aba. Dollar go plenti
You want cheap PMS, scrap import licenses, publish the minimum technical specification for PMS, let everyone "come inside"....competition will drop prices
Yes I hear you asking why cement price has not dropped? Because there is no real competition.
This isn’t Syria, Iraq or Afghanistan. This is France where 9% of the population has brought down entire cities!
Karma from Africa?
Am waiting on the exceptional Nigerian Youths to reject a system that let dem down.
Una destiny dey una hand.
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