Nigeria external reserves (savings) is said to have reached about $25 billion (http://allafrica.com/stories/200508230086.html). However, people are suffering, no jobs while cost of living is increasing daily due to inflations.
1. Do we need to maintain this huge external reserves?
2. Why can't the government be innovatiove to spend this people on productive sector of economy to drive employment?
3. Is it needed for OBJ to save so much money for Nigeria? Remember, he left so much money back in 1979 only to be squandered by Shagari. Why not use the money to better the lot of Nigerians now.
3.1: The schools are dillapidated
3.2: The health system is dillapidated
3.3: The transport sector is dillapidated
3.4: Youth unemployment is about 60%+.
3.5: Mortality rate is reduced to 49 years
3.6: Poverty rate is about 70%+
With all these problems that require goverment to actively spend money on above sectors, why save the money for looters who will squander it again? Much like IBB squandered the windfall from the 1990 Gulf war?
Anybody out there reading this? OBJ? Okonjo-Iweala? - Why do we have to save so much when we are hardly feeding ourselves or fullfilling the basic needs of humianity?