I was writing a universal thesis on the place of divinity in the affairs of men five years ago, when I was invited by the Igbo Congress to present a paper to its conference, so I made a particular thesis of it. But the truth IS universal, and liberating enough, for those that choose to engage it. https://t.co/Uq1pYdgzqF
Actually, you are the one with limited understanding of economics. Foreign reserve is not a country's bank account. It is the result of imports and exports. Foreign reserve can increase by exporting more than your imports.
Peter Obi is funny to me. He said foreign reserves are secondary and that the welfare of the people is what matters. Does this man actually understand economics?
You cannot separate the two. Foreign reserves is what gives naira its value. It is what allows Nigeria to import medicine, fuel, food and machinery. It is what keeps the exchange rate from collapsing completely.
It's like a man who says his family's happiness is more important than his bank account that sounds good until the rent is due, school fees are unpaid and there is no food on the table. Your family cannot eat your good intentions.
The welfare of the people is built ON a strong reserve. You cannot lift people out of poverty with an empty treasury.
That is exactly why Tinubu is working to grow Nigeria's reserves first because without that foundation, every welfare programme is just borrowing to feed people today and starving them worse tomorrow.
Peter Obi wants to sound caring but he is describing a building without a foundation. It looks good until it collapses. 🌚