Petrol Import mounts pressure on the Naira- Mutallab

 

 The Chairman of Jaiz Bank Plc, Alhaji Umaru Mutallab has said the on-going foreign exchange crisis was triggered by the expending of billions of Dollars to import refined fuel products to sustain the economy. 
Mutallab told participants at the Daily Trust Board of Economists Breakfast Meeting held yesterday, 

that in addition to that Nigeria uses huge forex to import food items and most of the consumer goods which led to enormous pressure on the naira. He called for the development of agriculture to help in the production of foods that can substitute for imports. On security, he advised that all offices and residential areas should be properly marked and identified to help keep track of criminals and insurgents that may constitute a threat to the peace of the society. In my Opinion,we are paying hugely for not diversifying the economy. What's your take on the current state of the Economy? Comment below.