Roman Oseghale's blog

________Leadership and advancement

The Continuous Depreciation of the Naira

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Nigerians are losing the value of their wealth during both economic growth and economic recession. 

The Naira is a currency caught between the devil & the deep blue sea, it has depreciated against the US$ by 67,605% in 40yrs a currency it was once stronger than during both Economic Growth & Economic Recession eroding the wealth of Nigerians. During Economic growth the rate of depreciation is slower than when the economy is in recession, and the reason is when the economy is booming and Nigerians are making money they switch to luxury goods which also puts pressure on the Naira.

The only way to curb the continuous depreciation of the Naira is through industrialization and hard-line economic and social policies!

To stop the trend, Nigeria must move from Consumption Economy to a Production Economy.

Watch Roman Oseghale give an analysis of the trend and why.

Author: Roman Oseghale

Roman Oseghale holds Masters degree in Architecture and a graduate of Executive MBA from the Telfer School of Management and Leadership, University of Ottawa, Canada, he is a Consultant and Business Intelligence Analyst and the CEO of IntelServe Inc. a Canadian Business Consulting Company. He is a passionate analyst and writer on Leadership and Economics, He is a strong advocate of Investing in Human Capital Development to drive Economic Growth and Sustainability. www.intelserveinc.com

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