President Muhammadu Buhari said on Thursday in an interview with France 24 that he does not think the Naira, should be devalued again.


I don’t think it is healthy for us to have the naira devalued further. That’s why we are getting the central bank to make modifications in terms of making foreign exchange available to essential services, industries, spare parts, essential raw materials and so on — but things like toothpicks and rice, Nigeria can produce enough of these.

It is unclear how investors will react to those comments. However we believe this will not go down well with a lot of those who believe the Naira should be devalued. It also confirms Buhari’s support for most of the CBNs bold and controversial actions, which many believe would not have been possible for Emefiele to dish out.
read full on...[urlhttp://nairametrics.com/boom-buhari-explains-why-naira-shouldnt-be-devalued-again/][/url]

Mtchew

He wan just make diaspora students swear for am if it devalies

Today is wednesday OP..wakeup

3rd to comment

If we devalue the naira, how would N1=$1? Any body waiting for us to devalue the naira would have to wait for ever.

The CBN says that the Naira is "appropriately priced". I think this is a fair and balanced assessment. Allowing the naira to devalue further will lead to imported inflation and consequently high interest rates.

Clearly, from the president's comments, it looks like there's going be a lot of import substitution with local production/manufacturing.

Motherland shall rise again!

PMB d financial expert

ok

W

PMB talks more wen his abroad than in nigeria

Wise word We open a thread name #Babadon'tfallmugulikethepastcluelessone.