Introduction
Hello, friends of the steem4nigeria community, it is great to be part of this contest theme titled 'The Present Confusion in My Country's Polity', I must say this contest is critical and crucial as Nigeria is in a high state of confusion where a lot of question are left not answered.
The present situation of currency scarcity and election preparation is so crucial, the citizens no longer know who to believe, and the city is facing a lot of hardship. Read through to see my participation as I share with you my analyses of the current prevailing situation. Below is my kindle entry according to the contest tips.
Share your understanding of the current situation by emphasizing concerns about fuel pricing and the Naira redesign policy.
The current situation of fuel scarcity and the naira redesign has put a lot of people in Nigeria into a lot of issues and stagnation. It is annoying to see the judicial system, the house of assembly, and the presidency not in agreement with some crucial governing decisions.
The primary purpose of the naira redesign is to mob back funds not circulating in the economy. After searching into the causes of poverty in the country, it was observed that lots of people do not save their money in Deposit money banks or financial institution, as such CBN only release the money to the economy but the money is not in circulation to cover some loopholes in the economic sector.
The presidency in alliance with the CBN thinks the best strategy is to redesign the 3 highest denominations and declare the old note not more a legal tender by law for any transaction. The strategy has helped but the implementation process is what has harmed many.
On the other hand, fuel scarcity is a result of the private sector taking advantage of the fuel shortage circulation to injure the masses. It is normal to experience this situation in the market because when demand is greater than supply we expect nothing different. But the thing is, why in this critical period? I am sure with time, everything will be back to normal. I cannot assemble justify it to be political but there must be some political interest in it.
What are the resultant effects of these issues in your area
The issue of non-circulation of naira Notes and fuel scarcity had a lot of adverse effects on the citizens. A lot of businesses were affected because not all the businesses operating in my area have the experience to trade digitally via transfer or POS.
Banks were boggled down and burnt down by citizens because people were so upset that the banks cannot issue new notes after collecting the old ones for no understandable reason in my area. The banks claim that the new notes were not released by the CBN, yet other influential individuals are having access to the new notes.
Children were not able to go to schools because there is no means of mobility. There was a drastic increase in the price of commodities with no alternation increase of income by the government or Compensation. a lot of people were affected by this issue.
Do you think the country's present situation was politically motivated due to the upcoming elections or targeted at anyone?
Above I have presented my reasons for the situation at hand, the CBN initiated the move to claw back resources to the economy, this is my discovered reason for the scenario of currency swap. Even though there is a lot of speculation that the currency flow was controlled to avoid vote buying, there are a lot of other means to bid for a vote or perform bribery acts for the upcoming election if the politician wants to do that.
The primary reasons for the naira note redesign are for the benefit of the economy, but implementing it by the election period and allowing it to stay longer than expected is another factor that creates a lot of suspicions.
Other sources reveal that there is political interest in the scenario, but I still don't think that is true. I am sure things are not yet stable because of the present instability of the presidential election, but we hope to see changes soon.
Do you have a better solution to these issues and possible ways to help alleviate the sufferings observed around you? (Share how you've survived this moment)
My opinion to the citizens is to stop taking advantage of situations to increase the price of commodities. The Nigerians are making the situation worst by that act.
The government should always have the poor masses at heart, there should be an agreement between the arms of the government. There is a very big misunderstanding that decision-making is to favor a party, not the administration. The government should work by the book not by sight.
Conclusion
The current issue will be resolved and Nigeria will be great again, the current issue is not fully politically influenced. The citizen hopes for a better administration every day, and I believe with time, things will be okay. Thanks for reading I wish to invite @yakspeace @bensam2040 @yuceetoria to participate in this contest.
APPENDIX
- About the Author↪️
- All pictures snapped with my Samsung Galaxy S8+↪️
- Photos Edited with PixelLap Photo Studio↪️