Nigeria Reserve: Buhari Gets Quiet

Even strong economic nations who rely on Oil for survival have come out to tell its citizens and the world how bad things have become.

Saudi Arabia says if things continue like this, "we will run out of cash in 5 years" according to its finance minister. And this was a nation that had $1 trilion in reserves 10 months ago.

Tuesday, Russia, a Country not exactly known for its openness, said that its Sovereign Wealth Fund would run out by 2016. "Our reserves volume will decrease by approximately 2.6 trillion rubles( $40.88) more than half." Finance minister,Anton Siluanov told Tass.

In Nigeria's case, nobody know anything. The government is not telling its people how bad things are .For the last 6 months, the Country in all practical purposes, does not have a government.
Image result for nigerian economy
Brent fell to $46 today. As Nigeria is heavily dependent on imports, it is simple math to gauge how deep its financial problems are.
For one thing, Nigeria does not have Russia's kind of "rainy day" Sovereign Wealth Fund.

The IMF came out Tuesday to paint how gloomy Africa's outlook is. But the Impact in Nigeria can be felt in governments inability to meet basic needs.
The $40 billion in reserves came to $30 billion in August. And it has earned little to nothing since then.
Without a proper government, Mr Buhari, its president, rule the helpless people like a private estate.

Its National Assembly is essentially useless because there is no money .They don't even question anything.

With no ministers, Mr Buhari spends the little money Nigeria has on frivolous foreign trips and needless election cases.

Its so called civil society groups are dead. Because in Nigeria, people pay for gifts. There would be no uprising.They are a docile lot of people whose problems stem partly because of their uncanny capacity for endurance and mainly because they blame anything but themselves for theIr problems.

However, though, Mr Buhari has to tell NigerIa why he is not able to make good on one promise. It is called integrIty.
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