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Inflation: Nollywood producer Aremu Afolayan slams Osinbajo

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NOLLYWOOD actor and movie producer Aremu Afolayan has lamented the fragile state of Nigeria’s economy after he allegedly changed 6,500 Dirham into N1 million in the United Arab Emirates (UAE).

“I wish everyone can move out of Nigeria, let’s see who you evil serpent will govern over,” Afolayan wrote on his Instagram page @aremumimostwantedlikecrudeoil, describing Nigeria as “a dead country”.


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He specifically called out Nigeria’s Vice President Yemi Osinbajo for not living up to the expectations of many Nigerians who had hoped that the standard of living in the country would improve under the current administration.

“@profosinbajo I thought you are of God. I thought you no (sic) God. I thought you fight for humanity. I thought you are person of God. You are faceless to me. I thought your time will bring peace and fortune to my people. Pls stop going to church, it’s not worth it,” he wrote.

Nigeria narrowly exited its second recession in four years in early 2021, but growth remains slow despite that fact that an International Monetary Fund (IMF) report released last month projected the Nigerian economy to grow by 3.4 per cent in 2022, up from 2.7 per cent earlier projected.

The report, however, reduced the global growth projection to 3.6 per cent in both 2022 and 2023, citing the impact of the costly humanitarian crisis and economic damage from the Russian war in Ukraine.

Nigeria relies on oil for 90 per cent of foreign reserves, making it vulnerable to the limited access to United States dollars, although the country is seeking to advance agriculture, information and communications technology (ICT), and the creative industries, such as the thriving music and Nollywood film industries, as potential export alternatives.

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