If dollar is appreciating against the Naira, why is the pressure on Nigeria to devalue Naira?

That is illogical.

The pressure is supposed to be on US to devalue the Dollar.

hmmmm ......

What do you expect from try by error economy management

GenBuhari
Did you even pause to think that through for a moment? You just embarrassed the real Buhari with this joke of a mind boggling and idiötic statement/thread.

What are you saying? Devalue dollar against what? Dollar is one of the top currencies of the world. You devalue your naira against it not the reverse. lol

What you should try to understand first is d meaning of devaluation don't mistake it with depreciation. Let's define devaluation.
What is 'Devaluation'
Devaluation is a deliberate downward adjustment to the value of a country's currency, relative to another currency, group of currencies or standard. Devaluation is a monetary policy tool of countries that have a fixed exchange rate or semi-fixed exchange rate. It is often confused with depreciation, and is in contrast to revaluation.
BREAKING DOWN 'Devaluation'
Devaluating a currency is decided by the government issuing the currency, and unlike depreciation, is not the result of non-governmental activities. One reason a country may devaluate its currency is to combat trade imbalances. Devaluation causes a country's exports to become less expensive, making them more competitive on the global market. This in turn means that imports are more expensive, making domestic consumers less likely to purchase them.

While devaluating a currency can seem like an attractive option, it can have negative consequences. By making imports more expensive, it protects domestic industries who may then become less efficient without the pressure of competition. Higher exports relative to imports can also increase aggregate demand, which can lead to inflation.


So with this definition of devaluation I think the best thing for Buhari to do right now is to devalue naira for the benefit of this country. But come to think of it do u think Buhari really understand the meaning of devaluation the way most people do not understand the meaning even until now.

GenBuhari:
If dollar is appreciating against the Naira, why is the pressure on Nigeria to devalue Naira?

That is illogical.

The pressure is supposed to be on US to devalue the Dollar.

The way u don't understand the meaning of devaluation that is how d original person of ur "name" does not understand it too.