Business Nigeria: Why Naira Devaluation is a bad Idea - President Buhari

[LequteMan]

Nigeria's President Muhammadu Buhari has reiterated his decision not to devalue the Naira.

Speaking at a Presidential round-table discussion in Egypt, Buhari said Nigeria needs to export more and not import more.

“Developed countries are competing among themselves and when they devalue they compete better and manufacture and export more. But we are not competing and exporting but importing everything including toothpicks. So, why should we devalue our currency?”, the President said.

“We want to be more productive and self-sufficient in food and other basic things such as clothing. For our government, we like to encourage local production and efficiency”.

He stressed that Nigeria, being a mono-economy dependent on oil, and with a teeming unemployed youth population, the way out of the current slump in the global oil market, is for the administration to focus on agriculture and solid minerals development.

“The land is there and we need machinery inputs, fertilizer and insecticides,” he said.

He maintained that his administration had been quite focused on three fundamental issues of securing the country, reviving the economy and stamping out corruption.


Vanguard

 

[solex Joseph]

Hmmmmm is it now u want us to focuse on agriculture.... mr president sir plsss come back home and sit down to make this country great stop flying around

 

[Alabi]

@solex Joseph, would you advise other presidents and heads of state to sit in their countries and stop visiting Nigeria?

 

[Idris Abdulrahaman]

If really we Nigerians are patient wit this government. Nigeria will be gr8 again!!

 

[Liadi abass opeyemi]

@solex Joseph, would you advise other presidents and heads of state to sit in their countries and stop visiting Nigeria?

Nice one, I gbadun ur response. People want magic and it's not possible. Let them try and cross the road so that motor go hit them and break their leg within a minute and see the number of months or years it will take to repair.

 

[Lastbullet]

Giwa! that's why we the compatriots elect you cos we know you are the only one who can restore Nigeria economy back to its normal state. Do it anyhow to restore Nigeria economy, we the educated ones don't mind cos we know nothing good comes easy. We wholeheartedly support you, continue doing it, may Allah be with you.

 

[Godswill Henry Mbre]

Nigeria leaders both past and Present are suffering from one symptom " lying symptom". They do much talking than performing.
In 2015 president Buhari told us bunches of lies that Nigerians were eager to hear n from May 29, he has been traveling from pillar to post n every day dollar is rising.
Oga we don tire of these lies, so thank U.

 

[jack alert]

leave that man is taut is not in control of his senses