Devaluation without addressing the fundamental problems for the very devaluation will lead to more devaluation - and no one has addressed HOW the devaluation itself ADDRESSES the fundamental problems.
The other fact of the matter is that both DEVALUATION and FUEL PRICE INCREASE tremendously INCREASE the cost of governance in a Nigeria where OFFICIAL ENTITLEMENTS coupled with PROFLIGACY are the order of the day - unless these are curbed through ENFORCED DISCIPLINE by government itself. For example, with fuel price increase, ALL those OFFICIAL CARS that you see on the road - for Ministers, PermSecs, Directors, VCs, Military, etc. - will have INCREASED fuel bills; in one estimate, fueling of official cars in Nigeria normally takes ONE-THIRD of ALL fuel charges in the country; add profligacy and outright theft can push that percentage up. Travel abroad (for official duties, training, etc._) and Importation of goods (cars, military equipment, etc.) for OFFICIAL duties will INCREASE in cost due to any devaluation.....
