The Economy Does Not Lie

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TheEconomyDoesNotBy the end of June, 2 things would have happened. Fuel subsidy would have been removed and Naira will have been devalued to N285.00.

The former came 4 years too late, while the latter came 4 months too late. But better now than never?

The lesson at the end of the day is this:

“The Economy does not lie!”

You cannot use your mouth to control price in a Capitalist economy, you cannot will an Economy to bow with honesty and propaganda mathematics can only work for so long … until it comes tumbling down like a pyramid scheme.

By the end of June … PDP and APC, North and South, Christian and Muslim will realize the singular unifying truth and that is that the Economy does not lie and it does not discriminate.

Our situation is real. We need to wake up!

Our intellects have been asleep since May 29th and only a few are awake to our reality … the others are awake but are drunk off propaganda drinking it like pure water at an NYSC camp ground.

It was barely a month ago when the VP said this and I quote:

“We expect that foreign exchange will be sourced at an average of about N285 to the dollar, (current interbank rate).”

And nobody questioned it.

Nobody asked why the Vice President will say N285.00 when the official rate was still N197.00. But today N285.00 is slowly becoming our reality.

My people, please wake up. The Economy does not lie and it sure as hell does not discriminate. Wake up before its too late.

twitterWords by Okechukwu Ofili of
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Author: Ofili

Words by Okechukwu Ofili of
Follow him on Twitter
Stalk him on Instagram
Read his crazy titled books on konga or okadabooks
Feed his children at…no wait he has no kids…. 

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2 comments on “The Economy Does Not Lie

  1. SherlockO on said:

    I agree we have to wake up and ask questions for clarity. I find that the dynamics of FOREX is too much for most Nigerians. They just don’t get it – and this is only a small part of monetary policy. A floating Forex policy is what the VP hinted on adopting as has been advised by Soludo, Sanusi, LCCI, IMF and myself. Finally it seems they’re coming around to it. I’m sure they knew they couldn’t survive the lie for very long. But on the issue of the NGN285 interbank rate. Our reality has been NGN285 and above since January. These banks sell to themselves at the interbank rate of circa NGN285 and then to the customers at the prevailing black market rate while making a neat profit. And here’s the annoying part. They’ll buy from you the customer at the CBN rate of NGN186 and then sell at NGN 285/300+ to other banks/customers! yes the banks are corrupt but more so is the policy maker who adopts a policy that enables corruption to thrive. I hope we adopt this new Forex policy ASAP. Sanity’s been gone for too long. In the VP’s estimation the Naira would exchange at somewhere close the the present Interbank rate of circa NGN 285. I believe so too. Let’s see…

  2. SherlockO on said:

    And just to answer the question of why the Interbank rate is NGN285 when the CBN rate is NGN197. The money exchanged on the Interbank exchange isn’t sourced from CBN and so they can’t dictate the rate.

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