2. Commodities that ought to have been sold to the general public at control & subsidized prices,but the items was usually hoarded & through dubious means ,founds its way into the market,three times the amount.
Why was there difficulties in getting these essential commonalities
Why was there difficulties in getting these essential commonalities
3. In the first place?
The NPN which was the ruling party then led by Akinloye Adisa as Chairman,with Late Shagari as President ,has mismanaged our economy that our foreign reserves had less than $1,251b from $6,899b handed over to the NPN by the Military regime of OBJ in 1979
The NPN which was the ruling party then led by Akinloye Adisa as Chairman,with Late Shagari as President ,has mismanaged our economy that our foreign reserves had less than $1,251b from $6,899b handed over to the NPN by the Military regime of OBJ in 1979
4. Despite our external reserve hitting an all time $10,639b in 1980,the duo of Adisa Akinloye, Dikko and other NPN big shots squandered our commonwealth on frivolities that by 1982/1983, Nigeria became broke!!
5. With $1.251b foreign reserve in 1982/1983,our LC ( Letter of Credit) was worthless and not honoured by international banks or creditors .
Question is ,how do you now import material for manufacturing essential commodities or essential commodities?
Won't there be scarcity ?
Question is ,how do you now import material for manufacturing essential commodities or essential commodities?
Won't there be scarcity ?
6.Import liecense regime introduced to salvage the situation created by NPN who created the problem by mismanaging our reserve ,was terribly abused by them as it became an avenue to enrich themselves, families & girlfriends,who imported items and hoard them for profiteering.
7. To eradicate the corrupt import licenses of NPN administration the @MBuhari military regime in 1984 introduced a G2G(Government 2 Government) system of importation of essential commodities to ease the access & introduced Price Control of these items 👇
