Eye on Nigeria

Nigeria is going through a transition-Politics and Economy.The world is watching.This blog will keep an eye on the Politics,economy etc of Africa's most populous country.

Saturday, July 08, 2006

Nigeria's foreign reserve:How much???

The controversy surrounding the nation's actual foreign reserve after the payment of the foreign isn't going away.A national newspaper hinted that the nation has about $9billion in its foreign reserve while CBN chief,Prof Charles soludo says we have over $36billion in the account.

Come to think of it,who needs $36billion in the reserve when we don't have regular power supply,unemployment,crime,poor funding of the educatioanl sector , hign food prices and bad roads( actually only 15% of Nigerian roads are tarred) that is shameful if you ask me.Who needs an over bloated foreign reserve when the people are starving?

what do u think?

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