I read the article on the continuing saga of compensation packages for Nigerian senators and House reps. If the data are correct they show that business continues as usual in Nigeria. That is the business of exploiting the masses with no impunity. if this continues it will be most unfortunate as the country's foreign reserves have essentially dwindled to zilch and Nigeria now has an external debt of about $9.5 billions and a domestic debt of $54.6 billions as of May 2015. In addition, oil revenues which account for over 75 % of the country's revenues are still being battered by low crude oil prices.
Leadership that does not understand the gravity of the current economic situation of the country has no business managing the hopes and welfare of millions of poor Nigerians who subsist on less than $2 per day. Such exhibition of brazen and callous greed, will make it more difficult to attract significant investments from honest and realistic investors which the country sorely needs at this time. I also suspect that joint oil producing partners are likely to continue to sell off their equities in light of the uncertainties and total disregard of the nation's economic realities by the senatorial leadership while also not passing the much awaited PIB over the past 5 to 6 years. On Tue, Jun 16, 2015 at 11:57 AM, 'Chika Onyeani' via USA Africa Dialogue Series <usaafricadialogue@googlegroups.com> wrote:
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