Nigeria’s economy will continue to sink as long as the country continues to practice deregulation, and that is according to Bala Zakka.
Mr Zakka, a petroleum engineer and public affairs analyst stated this on Tuesday when he featured on an ARISE News programme, The Morning Show.
According to him, by this time next year, if Nigerian authorities do nor recalibrate and retrace previous actions the price of fuel will be up to 250 Naira per litre.
“As long as we stick to the concept of deregulation. As long as we stick with the models of deregulation knowing that we are a weak economy, knowing that we are an importing nation, knowing also that we have a very weak currency either due to devaluation or depreciation, also knowing that we are experiencing business climate hostilities.
“As long as we continue to apply the concept of deregulation the economy of Nigeria will continue to sink,” he told ARISE News.
He added further that, “as I speak to you now, we (Nigeria) is heading towards the cliff edge and if care is not taking we’ll go off the cliff edge and fall into the valley.”
By Abel Ejikeme