Duke: So if inflation is too much money in circulation, where is this money?

Former Cross River Governor, Donald Duke, has told the  Federal Government that Nigeria is not yet out of recession.
Duke therefore advised the administration to work harder, stressing that the masses were yet to feel the development.
Duke who disclosed this at the official launch of the National Competitiveness Report and Sub National Index held in Lagos stated that: “Just because it is easier for goods to pass through the port…that’s no big deal.

Former Cross River Governor, Donald Duke.

“The point is what does each one of us add to the general well-being of the country? Most folks in Nigeria are parasitic.
“You walk on the streets and people in the prime of their lives are hawking plantain chips if they are lucky to find something to hawk.
“We, the few privileged, sit in our cars, our windows wound up, and pretend to look at our phones because we don’t want to see the reality out there.
“This country, for instance, has to grow at about 15 per cent annually, not in Lagos, but nationally, for the next ten years, to absorb the numbers that are out of the economy. We are self-deceptive. We say that unemployment is 15 per cent.
“In other words, out of every 100 only 15 have no jobs. I think it is the other way round; only 15 have jobs and the rest 85 are living off the 15. The question is how long can that go on?
“Then we sit down and say that inflation is 16 per cent. How do you arrive at that? I know I’m broke. So if inflation is too much money in circulation, where is this money?”

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