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Nairaland Forum / Nairaland / General / Politics / Buhari Says No To Naira Devaluation (787 Views)
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Buhari Says No To Naira Devaluation by pero45: 6:49am On Sep 21, 2015 |
President Mohamadu Buhari may have, so far, given the
clearest preview of his blueprint for the revival and
sustenance of inclusive growth of the Nigerian economy,
in a recent interview with a French media house, in Paris.
Buhari’s observation on the Nigerian currency was that
“the naira has been devalued, as it used to be around
N140/$ and now it is hovering around N200/$ and above”.
Consequently, the President cautioned that “I don’t think it
is healthy for us to have the Naira further devalued”.
Furthermore, PMB explained that, “we are therefore
getting the Central Bank to make modifications in terms of
foreign exchange availability for essential industries,
spare parts, essential raw materials and so on, while
liberal access to “CBN’s depleting forex reserves” will be
denied to importers of such things like toothpick and rice
for which Nigeria has adequate capacity”. The President
therefore concluded that “we don’t need to give our hard
earned currency for that, but those who insist on
toothpick from Europe or from China, instead of using
Nigerian toothpick, they can go and source their (own)
foreign exchange”.
What is clearly evident from the above narrative, is
Buhari’s firm endorsement of the CBN Governor’s recent
steps to reduce pressure of dollar demand on ‘CBN’s
reserves’ and Naira exchange rate’. Read more www.vanguardngr.com/2015/09/buhari-says-no-to-naira-devaluation/ |
Re: Buhari Says No To Naira Devaluation by madridguy(m): 6:50am On Sep 21, 2015 |
May God help us. |
Re: Buhari Says No To Naira Devaluation by lorbah001(m): 6:50am On Sep 21, 2015 |
Gbam |
Re: Buhari Says No To Naira Devaluation by mightyhaze: 6:50am On Sep 21, 2015 |
Wake me up wen 1naira = 1$ ! |
Re: Buhari Says No To Naira Devaluation by Tongsman(m): 6:52am On Sep 21, 2015 |
Kudos
|
Re: Buhari Says No To Naira Devaluation by SLIDEwaxie(m): 6:59am On Sep 21, 2015 |
Pls, being lazy, av refused to Google-search the economic implications or benefits of naira devaluation, a reason I haven't been active in the arguments concerning this matter. Can someone with a clear sense of explanation in relation to recapitulation, explain this jargon? Thank you. |
Re: Buhari Says No To Naira Devaluation by Flets: 7:00am On Sep 21, 2015 |
Ok |
Re: Buhari Says No To Naira Devaluation by jazinogold(m): 7:11am On Sep 21, 2015 |
confusion everywhere even the dullard dy fear! |
Re: Buhari Says No To Naira Devaluation by Nobody: 7:26am On Sep 21, 2015 |
pero45: does he even know what Naira devaluation mean |
Re: Buhari Says No To Naira Devaluation by pero45: 7:29am On Sep 21, 2015 |
chuna1985:Lol |
Re: Buhari Says No To Naira Devaluation by sammyj: 7:30am On Sep 21, 2015 |
Good move baba we is on point!! |
Re: Buhari Says No To Naira Devaluation by pero45: 7:30am On Sep 21, 2015 |
Re: Buhari Says No To Naira Devaluation by Damalex4luv(m): 7:48am On Sep 21, 2015 |
mightyhaze:May you never wake up then. |
Re: Buhari Says No To Naira Devaluation by mightyhaze: 8:08am On Sep 21, 2015 |
Damalex4luv:ha!are u sayin dat apc deceived us wit dat line jst 2 get our votes Well I rebuke u,cos naira must equal 1dollar weda u like am or not |
Re: Buhari Says No To Naira Devaluation by Nobody: 8:18am On Sep 21, 2015 |
chuna1985:and you who claims to know? What have u achieved with it? |
Re: Buhari Says No To Naira Devaluation by Nobody: 1:02pm On Sep 21, 2015 |
handsomeclouds: Ibachieved being above certain people's abject stupidity. |
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