The expected gloomy data in Nigeria is now in the market place for all to see; Unemployment 20%, Inflation 17%, GDP growth -2.6%, Nigeria already expelled from Emerging market bond index, Naira exchanging at 420 per US dollar etc etc. the gloom is everywhere but what is it with Nigerians and a bag of rice? Does it mean that every person in Nigeria buy their rice in bags? Personally I have never purchased rice in bag. Many Nigerians keep saying that a bag of rice is now 22000 Naira. At least farmers will have a reason to rejoice for those searching for positive report in the midst of gloom. However Buhari and ruling party does not have any reason to rejoice at all. They have smiled uneasily saying that GDP that was predicted to recede by -2.9% only receded by -2.6%. Please recession is recession. It is now clear that something is fundamentally wrong and needs to be corrected.
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