It is so surprising that 5 Naira note in my country Nigeria can’t get you anything anymore whatsoever and it is still in circulation. I found this money in my cupboard only to discover that this money in today’s Nigeria can’t buy anything. It so sad that with the numerous wealth the country generates from different minerals the country has and mostly Oil, it is being siphoned by some set of people while leaving the masses in starvation. From a recent development, it was discovered that 80% of the money generated for Oil the country produces couldn’t be accounted for by NIGERIA NATIONAL PETROLEUM MINISTER (NNPC) while the president is the petroleum minister of the country. It’s so unfortunate you can’t give this to kids to get sweets because every little thing in the country has scaled past the 5 Naira note to at least 10 Naira note or more. The money is now going extinct because people rarely use it anymore and with the inflation rate the country has been experiencing for the past 8 years the currency might be scrapped. The people of the country are complaining of the high cost of everything ranging from foodstuffs to building materials and so on. Fuel is being sold at an high of 220 Naira per liter. The minimum wage is still barely manageable with N33000 you can’t sustain half a month as a youth. The elections are coming and we are planning to vote come 2023, hope we vote a better candidate that can help rescue this country in the ruins.
Even insecurity has worsened the state of the economy with transportation of goods and people goes up due to the incessant bandits and terrorists terrorizing the north where our food is mostly grown. Our daily transport to work has experienced a serious increase because of the hike in fuel and diesel prices. Even aviation fuel has been in short supply thereby making cost of tickets twice as much its former price. The value of one US dollar to Naira is 415 Naira in banks and 500 Naira in black market. If you have $2000 you are certain to be a millionaire in my country, Why???
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