The Nigerian former Senator, author, playwright, and human rights campaigner Shehu Sani, has disclosed that the rate at which the Naira continues to deteriorate and lose value in comparison to other currencies is cause for concern. Despite the ongoing negative impact of the Naira, he emphasizes that no one is resigning or being fired.
Remember that the value of the Naira has plummeted in recent months. A dollar is currently trading above N500 naira, and the Naira rate is outperforming other major currencies. This has resulted in a significant increase in the cost of consumable products in the country. Those in the import and export business are also suffering as a result of Naira's depreciation.
The Senator, who has long advocated for a more progressive Nigeria, wrote on his official social media account that, despite the rapid depreciation of the country's currency, public officials are not concerned and have no plans to resign. Many have interpreted his position as being directed at the President of the Federal Republic of Nigeria, while others have applied it to all officeholders.
On his page, he said, "The national currency continues its downward slide; nobody is resigning and nobody is fired."
However, the most important aspect in his statement is that the focus should not be on who is being blamed, but rather on how to address the current issue confronting Nigeria's economy and Naira's diminished value in the world market.
Dear Readers, do you think Senator Shehu Sani's proposal for officeholders to resign or be fired due to the depreciation of the naira is a realistic dream?
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