Lack of trust: another reason for naira downfall

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The recent economic crisis in Nigeria has caused widespread panic and disbelief among its citizens. While it is true that bad leadership and a lack of a working system are major issues, it would be unfair to place the entire blame on the government. The average Nigerian must also take responsibility for their share of the problem. Many citizens falsely believe that the country's problems do not affect them, leading to a lack of trust in our products. This lack of trust has become a significant issue that needs to be addressed.

I believe many Nigerians have lost faith in our products due to their perceived lack of quality. While it's true that the government could do more to support our manufacturing industry, we can't solely blame them for our products' shortcomings. However, it's important to note that our over-reliance on imported goods is having a negative impact on our economy and local businesses.

It has become worse to the extent that even the products made in Nigeria are not confident of writing made in Nigeria. Most of these products in Nigeria will write made in another foreign country because they know that if they are made in Nigeria, people will not buy them, this is one of our major issues and is affecting us because 80 to 90% of everything we consume are imported goods and our government in the past have tried to enforce some of our product on us, but because of their lack of quality and lack of consistency have not made this implementation work.

Why do we believe in you when you don't believe in yourself?

The naira has been declining for various reasons, and the government is currently attempting to incentivize investors to hold onto the naira. However, a prominent investor recently questioned the logic behind holding onto a currency that citizens do not trust. It is true that we often complain about the state of the economy, but as citizens, what are we actively doing to improve the situation? It is important for us to take responsibility and contribute towards bettering our economy.

Currently, it's not fair to blame investors for selling the naira because The majority of citizens do not hold the local currency, the Naira. Instead, they convert their funds into a more stable currency due to the current state of the economy. To gain people's trust and the investor's trust we need to encourage positive actions towards the economy. Continuously complaining without taking action will not bring about any change. We must focus on making the necessary changes to improve the situation.

It's easy to fall into the trap of complaining about the state of the economy in Nigeria and expecting others to make a change. However, we must remember that change starts with one person. If each citizen takes the initiative to better themselves and the economy, we can move forward as a nation. Blaming our leaders for not supporting local products won't solve the problem. We should instead focus on creating high-quality products that are worth supporting. By doing so, we can help stimulate the economy and create a better future for ourselves and future generations.