I don't know how to put this question without being misinterpreted or misunderstood. The issue of devaluation of the naira has been ongoing for sometime now and each time, i normally read where PMB said he won't devalue the naira. I want to ask if he has the power in such matters. Aren't economic matters supposed to be decided by the economic team Why should he be the person that should say whether it should be devalued or not. Are such decisions not supposed to be taken by either the CBN governor or the finance minister since they are in better position to know which is better being economists Just curious...please don't misinterprete me.

^^^^^ Before you start a thread, the first thing is to consider how knowledgeable you are with the issue you intend to discuss. What do you really know about devaluation?

The president has explain this term in plain terms and yet people continue to have concerns. I find it very disturbing that some Nigerians would want devaluation of the naira. I will only understand of this concerns come from foreign investors or Nigerians in diaspora and not Nigerians living in Nigeria. What do we really manufacture in this country.

Let me help you out - devaluation is the deliberate attempt to reduce in value a country's currency. This attempt is to reduce price parity between -a country's goods/produce comparable with other countries. That is, to make your export product cheap. Now, if we devalue, we majorly export oil and some few cash crops and import a whole lots of goods. We also have some market irregularities such as currency speculators who intend to cash in on devaluation e.g BDCs and Mallams.

Also, the President is the chief executive officer of the economy, the buck stops at his desk. He gives the final say and make decisions in the best interest of the country

He doesn't have the power since CBN is autonomous, but we have a dictator.

As the president, I think he has the final say bcoz the cbn governor and the finance minister reports to him. As the economic team, they will hold their meeting together with the president and they will advise him on the way forward but Buhari has the final say as the president of Nigeria.

dukie25:
He doesn't have the power since CBN is autonomous, but we have a dictator.

But he can appoint and sack the cbn governor

Tpave:
But he can appoint and sack the cbn governor

He can't sack the CBN gov, remember Sanusi and GEJ.

dukie25:

He can't sack the CBN gov, remember Sanusi and GEJ.

But what happened at the end of the day? Rule of law doesn't function in Nigeria besides, our lawyers are very corrupt.