₦airaland Forum

The Special Adviser to the President Bola Tinubu on Economic Matters, Tope Fasua, has said a weaker currency for the country was one of the best policies of the government.

Tope Fasua said the country’s currency’s low performance in comparison to other currencies has focused the attention of businesses on sourcing local raw materials.

In an interview with Arise TV on Monday night, Fasua noted that the current exchange rate has also stopped Nigerians from leaving the country for other countries.

Fasua argued that Nigeria has more students in the United States and the United Kingdom than most developed countries, not because the country’s education was totally bad but because of wrong choices. He said the weak Naira was also addressing it.

“I’m giving the advantage of making that currency weaker. Because now we’re focusing more on Naira and what Naira can do. We’re focusing more on what we can do ourselves. We’re focusing more on Nigerian raw materials. Many manufacturing companies have now started sourcing local raw materials rather than importing them.

“A lot of people aren’t traveling as many times as they would before. That’s one of the things, especially the middle class. And our middle class were special people. I mean, we assumed that we could travel five, six times on business class every year.

“How come Nigeria is the third or fourth country with the highest number of university students in the U.K. and the U.S. of all the countries in the world, we are rubbing shoulders with China with 1.4 or 1.5 billion people, we’re only 200 million people. That means that we’re putting so much money. It is not necessarily a failure of our education. It’s just aspiration. It’s aspiration,” he said.

The President’s Economic Adviser stressed that it was wrong for critics to assume the country would grow to be like Western nations that have been developing for years.

He emphasized that many Nigerians complaining of no work have decided not to work. According to him, the country has work for the citizens.

“The fact that we are rubbing shoulders and expecting that our economy and society will be at par with even the people that gave us colonization, who have had maybe 2,000 years of documented history. That means we have been preposterous. We’ve been preposterous, you know, because we can’t, your child cannot try and be you today. He has to learn and grow. And it’s also a matter of time.

“It’s good that the Naira has become weaker, but it has made us focus more. However, what we’re saying is that for those who are enterprising, for people who have work, who want to work, indeed, there’s work in this country. For those who want to work,” Fasua added.

decasey:
Who is this man for Christ sake.

KnowAll:
Do u seriously want a strong currency when u are not producing anything. So that when u have a headache u jump on plane to go to londofor check up.

KnowAll:
Do u seriously want a strong currency when u are not producing anything. So that when u have a headache u jump on plane to go to londofor check up.

treesun:
The Special Adviser to the President Bola Tinubu on Economic Matters, Tope Fasua, has said a weaker currency for the country was one of the best policies of the government.
Tope Fasua said the country’s currency’s low performance in comparison to other currencies has focused the attention of businesses on sourcing local raw materials.

https://reubenabati.com.ng/featur/weak-naira-is-good-many-people-can-t-travel-again-tinubu-s-aide/

Cindypresh:
Too many very very low IQ people in this country.

Macphenson:
Obviously Tinubu came to pauperise the Nation.

motymop:
yes, it is true that Weak naira is good for foreign investors and for nigeria.

but i think this aide does not understand what he is saying when he went on to say that weak naira has made Nigerians stay in Nigeria and Nigerian students stay in Nigeria, is he like saying Nigerians should be POOR and we should not have access to top education in other part of the world.

like he is a President’s Economic Adviser...JESUS

This is the aide biography when you consider the fact that he also studied abroad. it shows that the aide is not intune with reality

Tope Fasua attended London Metropolitan University to gain a master's degree in Financial Markets and Derivatives in which he earned Distinction in 2006. Harvard Business School, University of Groningen, Lonestar Academy, Texas are some of the academic institutions where Fasua has attended executive programs. He holds a Ph.D. in public policy and administration, from Walden University.

Cindypresh:
Too many very very low IQ people in this country.

vanbonattel:
Rolls Royce riders are now riding Honda

Honda riders are now riding bicycle

Travellers are now trekking

That the legacy of the criminal

Dalohad:
A Ph.D from a Walden University, I don't rate. Walden is an open, online, for-profit university and the standards are not as high as a traditional non-profit Universities.

I am more qualified than that jerk.

Paraman:
The Naira is too weak. Naira shouldn't be more than 750/$