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Thursday, 16 June 2016

Welcome to mjventertainment.bllogspot.com: According to Bloomberg news network, foreign direct investment in Nigeria also recently fell to its lowest levels since the 2007 and 2008 global financial crisis. Bloomberg also reported that investors were scared by Buhari's previous policies. This change is policy is also hoped to bring in foreign direct investment. "The government is trying to make institutions, law and code that can guide the economy,” said Femi Saibu, an economics professor at the University of Lagos. “Before, we just saw ‘fire brigade solutions’—the government responding to crisis but not working to improve the system. I think if all these policies are well implemented, the economy will improve in a few months." However, not all the experts agree that this is the right direction to take. Badayi Sani, a professor in the Department of Economics at Bayero University in Kano, Nigeria, is skeptical about this policy. "This can only work for countries that have domestic production capacities,” he said. “Nigeria is interdependent. I’m worried that the purchasing power of Nigerians will be eroded. If the naira loses value, it might negatively affect the government’s ability to provide goods and services and critical infrastructure, as well as its policy of diversifying the economy." The vote is still out on what this fiscal policy change means. The new policy will be implemented on June 20, next week.  

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