Inflation

Inflation in Nigeria at the moment is off the charts and that is messing with real estate prices. Few weeks ago I was in a meeting with one of my principal partners. We have been working on an off-plan project which we started early this year and he had convened the meeting with all stakeholders in the project to solicit for more funds and share the news that despite all the funds raised...

Nigeria economy, In June of 2015 the official exchange rate was $1/₦196.95. In June of last year it stood at $1/₦770.38. Am writing this article on the 15th day of June 2024 and the current exchange rate as I am writing this is 1 USD ⇛ ₦1,490.36. Let’s imagine that there is an alien that likes visiting Nigeria. It came in 2015 and exchange rate was just N195/$. It visited again in 2023 and it...

Naira as am writing this is weakening daily against the dollar, this brings to mind, I was listening to Patrick Bet-David speak couple days ago and he said something that shocked me. He said that he made more money during the Covid-19 pandemic alone than he did at other times in his life combined. In case you don’t know him, Patrick Bet David is an immigrant who came to the USA with his family when...