Dollar Now Everything Here  

<strong>Dollar Now Everything Here  </strong>

Nigerians are becoming more worried about the rising profile of the U.S. dollar against the naira, especially that even items locally procured without any import are now being sold as if all commodities are based on the dollar’s capacity in our country.

It is no longer unusual to hear a groundnut hawker, called in local parlance as Mai Giada or a Mai Ruwa, a water hawker to tell you that Dollar ya hau…, meaning loosely that the value of the Dollar has gone up. What has the dollar got to do with water and peanuts that are locally sourced? If the cost of more commodities that are not denominated in dollars when they are purchased are now being rationalised as being expensive because the dollar rate has climbed the roof then we must be mindful of these deleterious tendencies.

Last week, a vendor of eggplant, often called garden egg in our local parlance, held out a bowl of her products and yours sincerely was willing to buy for a little above what was the value of the hitherto N200 that was often sold to me. She suddenly got jolted from her past mien and friendly disposition, pressing that the same quantity would go for N400, citing the almighty dollar as the reason for the 100% hike, she enthused: “Oga, you no know say dollar don go up? How you go think say wetin you buy last week for that amount naim I still sell to you? Things don change. Abi you no de for Nigeria”.

Indeed, it was stupefying that even road side sellers can now think that they know much about Nigeria’s economy. Yes! They do, but just what many call; Jankara Economics or gutter economics is much of what is their turf. They would engage you in so much voodoo economics that you would become engrossed in their electrifying presentations devoid of sound logic but loose permutations that are devoid of sound judgement.

We are now dealing with dubious tendencies where even the ordinary Nigerians who are more or less unaware of the rudiments of the nation’s dollar economy now justify their shy-lock tendencies on the rising foreign currency against our naira.

It is very vexatious as we observe that even manual ‘soak away’ cleaners, those called in Yoruba as “agbekpo”, Hausa as “tuwon dare”, are already denominating their services in dollars even when they are hardly charged in any form that revered currency. They would vociferously ask their clients that: “You no know say dollar don go up?” What has the rise in dollar got to do with these very menial enterprises which can only remake our rudimentary economy?

Weeks ago, I was engaged in some unassuming discourse with some Nigerian youths who are not in the mainstream economy, from their disposition that was obvious. Their demeanour was sound but their patriotism was at its lowest ebb. On telling them that they could key into the opportunity to make the difference in the national space by voting into power who should govern the space in 2023, they were not in any form convinced that they could make the difference. That is the unbecoming state of our dear country where everything seems to be on the go.

It is saddening that the nation’s economy is faltering amid the claims in several quarters that we are head above heels ahead of our past. There is a good reason for this to happen because the nation’s information handlers are very apt in their game, making all things work well within their whims and caprices.

Experts have noted that the shocks within the nation’s economy are not peculiar to us as there are several examples that have remained more potent for us to rely upon. But our major concern is that we are always in a hurry to condemn ourselves instead of first getting down to the root of the matter.

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