Investment analyst, Manasseh Egedegbe, who tweets @knightofdelta is worried about where Nigeria’s economy is going. We all should be: the naira is currently trading at 445 to the dollar at the parallel market. Could there be a correlation between the end of Niger Delta Avengers ceasefire with the Nigerian government and the further plunge in our naira value? Manasseh seems to think so.

Do see below:

The life of entrepreneur is messy. Full of drudgery. But if you have a million dollars in the bank, you can spin any narrative you want.

— Bill Gates’ Maiguard (@knightofdelta) September 26, 2016

The older I grow, the more pinches of salt I put into Warren Buffett's quotes. No doubt he is a legendary investor, but… https://t.co/8C14Rz5CwR

— Bill Gates’ Maiguard (@knightofdelta) September 26, 2016

USD now selling at N440. If you swallowed Buffett’s strategy hook, line and sinker, you would have bought equities when USD was N300.

— Bill Gates’ Maiguard (@knightofdelta) September 26, 2016

The USD black market in Nigeria responded to Brexit, the official market did not.

— Bill Gates’ Maiguard (@knightofdelta) September 26, 2016

The black market is responding to the Niger Delta Avengers ceasefire, but the official market is appreciating instead. I am worried.

— Bill Gates’ Maiguard (@knightofdelta) September 26, 2016

The USD has been gaining approximately N5.00 per day against the Naira. It is showing a deepening crisis in our economy.

— Bill Gates’ Maiguard (@knightofdelta) September 26, 2016

Unfortunately, I believe the story the black market is telling us because it has been truthful for a long time. Refer to be tweet on Brexit.

— Bill Gates’ Maiguard (@knightofdelta) September 26, 2016

I am not an economist and I don't know the solution to our problem. But I am an investor and I always know when my investment is going bad.

— Bill Gates’ Maiguard (@knightofdelta) September 26, 2016

But one thing I know. Ending the ceasefire with NDA was a bad idea. The government should not have allowed that to happen.

— Bill Gates’ Maiguard (@knightofdelta) September 26, 2016

The NDA are economic terrorists. Unfortunately, you have to be very careful when a mosquito lands on your scrotum. You slap with care.

— Bill Gates’ Maiguard (@knightofdelta) September 26, 2016

I am worried. Very worried.

— Bill Gates’ Maiguard (@knightofdelta) September 26, 2016

Just when I finished wrapping my head around $100 = NGN41,000, now the thing is NGN44,500

— Bill Gates’ Maiguard (@knightofdelta) September 26, 2016

This whole situation is really unfortunate. As The Guardian reports it, “Nigerian oil production has sunk from 2.1 million barrels a day in the first quarter to 1.7 million barrels in the face of repeated militant attacks”. So yeah, there’s a correlation, alright. If things are like this at this time of the year, what will December look like?
PMB, please do something.