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/

May God help us.

Gbam

Wake me up wen 1naira = 1$ !

Kudos

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.

Ok

confusion everywhere even the dullard dy fear!

pero45:
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/

does he even know what Naira devaluation mean

chuna1985:



does he even know what Naira devaluation mean

Lol

Good move baba we is on point!!

mightyhaze:
Wake me up wen 1naira = 1$ !

Just give us 1 year....we can do it

mightyhaze:
Wake me up wen 1naira = 1$ !

May you never wake up then.

Damalex4luv:

May you never wake up then.

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

chuna1985:




does he even know what Naira devaluation mean

and you who claims to know? What have u achieved with it?

handsomeclouds:
and you who claims to know? What have u achieved with it?

Ibachieved being above certain people's abject stupidity.