PRESIDENT Muhammadu Buhari has said that the naira was strong against major foreign currencies when he was military head of state as he resisted pressure to devalue it.
Speaking at a meeting with members of the Council of Retired Federal Permanent Secretaries led by Otunba Christopher Tugbobo, at the Presidential Villa, on Friday, he observed that the naira was eventually devalued when he was toppled in 1984 after 20 months in office.
He insisted that he was yet to be convinced that the vast majority of ordinary Nigerians will derive any tangible benefit from a devaluation of the naira.
A statement issued by presidential spokesman, Femi Adesina, after the meeting said Buhari explained that he still held the conviction which motivated his principled resistance to devaluation in his first tenure as Head of State.
He said: "When I was military Head of State, the IMF and the World Bank wanted us to devalue the naira and remove petrol subsidy but I stood my grounds for the good of Nigeria.
"The naira remained strong against the dollar and other foreign currencies until I was removed from office in August, 1985 and it was devalued.
"But how many factories were built and how many jobs were created by the devaluation?
"That is why I'm still asking to be convinced today on the benefits of devaluation."
Buhari welcomed the Council's pledge of support for the successful implementation of his administration's Change Agenda, especially in the priority areas of improving security, curbing corruption and revitalising the national economy.
He added: "I am glad you have rightly identified the key issues we campaigned on.
"We need a dynamic bureaucracy which will not mislead us into taking wrong decisions."
The statement recalled that the Council of Retired Federal Permanent Secretaries was established in 2004 to serve as a platform for retired permanent secretaries to offer constructive advice to government on key policy issues.
Chief Philip Asiodu, the Pioneer Chairman of the Council, said that its members want the present Administration to succeed because Nigeria has already lost many opportunities for progress.
"We are non-partisan. The interest of Nigeria is paramount to us and we are anxious that you should succeed," Asiodu said.
Source: http://www.tribuneonlineng.com/my-1984-ouster-caused-crippling-of-naira-%E2%80%94buhari

Blame Game continues, now IBB turn, its no longer GEJ, tomorrow it will OBJ, I don’t just know what to tell this man, he is still Stiff Neck as he was in the Early 80s. He looks to me like a Driver that is not ready to turn the Steering wheel as the Road dictates. Yeye dey Smell as them dey talk.

May God save us from leaders that cant take responsibilty.

Buhari has shown that he knows nothing than blaming this person or that person. I wonder what he hope to achieve by that.

Nigeria‘s economy of 2016 is crashing and someone is here talking about 1985. I am yet to see a person that won a marathon race using his back.

Well i think Buhari‘s problem is his advisers and speech writers. God save Nigeria.

He's saying the truth

In 1984 when he left office the naira was 76kobo to the dollar, soon after IBB entered it became N2+ in 1986, and by the time IBB was through with the Nigerian economy in 1993, the naira had collapsed from 76kobo to N22+

Sai buhari.

Ok

Buhari is looking n becoming more or less like a vegetable . But I assure you, your ouster in 2019, we bring about a resuscitation of our crumbling glory.

Idiargbon was the reason why Nigeria survived during pmb reign in 1984,,,,
pmn was just a piece of garbage then like he is now.an illiterate will always be inconsequential & ineffectual.

Pmb = pmb

God bless Nigeria

Zombies come and defend your lord. Omenka and ngenenkwenu were are u ? The last time I checked a chronic zombie Beremx have been transformed to human.

choiiii. sir this lie is enough to cripple even a strong economy like Singapore

Bubu and his delusion of grandeur.

buari is a comfirm dullard. n dis is d present leader of d con3 Tufiakwa!!!!

hahahahaha..This man is truly a dullard.

Achuwa1:
Idiargbon was the reason why Nigeria survived during pmb reign in 1984,,,,
pmn was just a piece of garbage then like he is now.an illiterate will always be inconsequential & ineffectual.

d dullard too mumu infact, he's not fit to be local govt chairman talkless of a president of a con3. nigerians go suffer under dis APC directionless govt.

KissCODE:
May God save us from leaders that cant take responsibilty.

Buhari has shown that he knows nothing than blaming this person or that person. I wonder what he hope to achieve by that.

Nigeria‘s economy of 2016 is crashing and someone is here talking about 1985. I am yet to see a person that won a marathon race using his back.

Well i think Buhari‘s problem is his advisers and speech writers. God save Nigeria.

Zombies will tell you you can win a race running backwards or being stagnant. They will tell you baba is righting the wrongs of the previous administration by running backwards. Zombies! Just shake your head for them.

lalasticlala, seun, oam4j, FP pls

The blame game continues, PMB is done blaming GEJ, now he has beamed his "Blame Light" on IBB...


When will PMB ever take responsibility I hope they won't blame God after they run out of who to blame...Yeye dey smell

OH Ma God Bubu never fail to disappoint.

May God deliver us from this man ooo
Blame everybody finish come dey blame 1985 join

Jesus take the wheel!!!

Austin4lif:
Zombies come and defend your lord. Omenka and ngenenkwenu were are u ? The last time I checked a chronic zombie Beremx have been transformed to human.

Yes it's true baba. After the SAP loan

Taaaa! Weting bubu dey talk?

And your re-election in 2015 has finally crumbled the Naira like dry leaves in winter

b

Buhari is a bastard!!!!!!!!!! Pendulum of idiocy president......

KissCODE:
May God save us from leaders that cant take responsibilty.

Buhari has shown that he knows nothing than blaming this person or that person. I wonder what he hope to achieve by that.

Nigeria‘s economy of 2016 is crashing and someone is here talking about 1985. I am yet to see a person that won a marathon race using his back.

Well i think Buhari‘s problem is his advisers and speech writers. God save Nigeria.

Haters of PMB I ve identity you.

Na now u know tell them Na now u know tell them

Eziokwu...

The man would does finish Nigeria now