Good People, our economic indicators in Nigeria have severely diminished. I just completed my back-the-envelope village boy study and the results are troubling. Three indicators:
– The number of active aircrafts parked in Nigeria’s leading local airport at 9pm have dropped by more than 30% from Jan 2023 numbers.
– The number of ships coming to Nigeria have dropped, and most troubling, ships continue to depart Nigeria largely empty. Ask your friends to climb the tallest buildings in Marina Lagos and count occasionally over a week, how many are coming and leaving, and how loaded they are.
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-International traffic in Nigeria’s main airport – MMA Lagos – is off by more than 50% compared to Jan 2023 numbers. To do that, ask people who work there to take photos at 8pm WAT, and send them to you from Monday to Sunday.
If supply chain is the engine of commerce, the implication is that if our supply chain is seeing a significant drop, it does mean that our economic activities have reduced. Again, this is not a scientific study, but this is one way I have been using for years to provide a quasi-independent evaluation of where things are.
We need to quadruple our efforts to avert economic paralysis.
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Since we cannot see what we are wearing on our hands, nor hear what is being thundered at us. Let us keep waiting for scientific evidence to tell us our level of shege. No wonder the outsider headmasters continue to carry us handicap, because we always need them to tell us when we are hungry.
If you are hungry and the GDP reads that you are well fed, which one is true? Even foolish people still lay claim to wisdom.
You all will be alright.