President Muhammadu Buhari on Friday said that his reason for insisting on no further devaluation of Naira was that the recent ones never paid Nigeria any good.

The president who spoke while meeting with members of the Council of Retired Federal Permanent Secretaries, led by Otunba Christopher Tugbobo at the presidential villa, Abuja stated that he was yet to be convinced by anyone on doing the contrary.

“When I was military Head of State, the IMF and the World Bank wanted us 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,” he said.

President Buhari also accepted 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 revitalizing the national economy.

http://www.vanguardngr.com/2016/04/insist-naira-must-not-devalued-buhari/

Whmmm

Buhari is right here .. Nobody has given us congent reasons to devalue an *already devalued Naira* ..


..still doesn't mean that what didn't work before won't work again ..

Ok

But the prices of food stuffs like garri have skyrocketed. Devalue or no devaluation, the Nigerian economy is in great shambles at the moment.

Pls Baba, do something fast, or else we look else where.

Buhari doubles as the CBN governor and petroleum minister. Current realities as today felt in these two ministries is evidence of his divine wisdom.

I Stand with Buhari on this. A Big No to Devaluation plssssssssss

THIS DUNCE shld know dat him NO b economist dat he is a secondary sch drop out so he shld shut his trap

I dont want him to devalue, he shuld do watever magic he has in mind to bring d naira up to d official value and beyond as he promised because we all know dat d naira is un-officially devalued.

Waiting.....

Let's see if you can stand your ground till the end.

Amazing leader....great decision.

A thought even Jonathan could not resist....

His stand is OK. till we begin to have more goods and services in high export demand that will make us have favourable balance of trade their isn't no need yet to devalue officially

I also stand with him on this one. But truth be told, there are several reasons why this country is not working very well which if you don't look deep, you won't understand.

I leave this country in the hands of God, I'v already lost hope in the hands of men(politicians)

on your track, get set to attack pmb, GO!
sir, they have no cogent reason, they will rather abuse you and anyone that tries to defend you.

China could devalue their currency all day, everyday and retain the strength of her economy.. Reason? She's export dependent and devaluation means cheaper commodities compared to what's obtainable elsewhere. 'Steel' quickly comes to mind.. Nigeria is an import based economy and devaluation will simply mean we pay more naira for goods.. A COMPLETE NO to devaluation until we start exporting goods and services that can help stabilise the Naira

Nelkoko:
THIS DUNCE shld know dat him NO b economist dat he is a secondary sch drop out so he shld shut his trap

If you can call this man a dunce them your father should be more than dunce not to train you to respect elderly person who also double as your president. Go ask you father if he sees buhari he'll prostrate.

Omo ale jati jati

princemillla:


If you can call this man a dunce them your father should be more than dunce not to train you to respect elderly person who also double as your president. Go ask you father if he sees buhari he'll prostrate.

Omo ale jati jati

bros NO vex na u i insult? Ma dad cant prostrate to buhari cos he kicked his ass in 1984 and am proud of dat...

Nelkoko:
bros NO vex na u i insult? Ma dad cant prostrate to buhari cos he kicked his ass in 1984 and am proud of dat...

your dad kicked him in 1984, meaning they are of the same age range, yet he is not wise enough to position himself to be the governor of his state maybe pmb might have no choice but to copy his template, and you the kid, you must be above 30, so should be changing your immediate political environment for good, what's your achievement bros?
although a crook, but he(dimeji bankole) is on record to be the only youth that has risen to the 4th position in this current democratic dispensation.
omo osan ti n ko ponpo ba iya e.

This is the height of cluelessness

Valuation and devaluation were all hypothesis getting the right frameworks that work with the current situation at stake is what we need, CARRY ON Mr President.

divinehand2003:
Ok

But the prices of food stuffs like garri have skyrocketed. Devalue or no devaluation, the Nigerian economy is in great shambles at the moment.

Pls Baba, do something fast, or else we look else where.

Where do you advice we look?
Since everywhere i've turned to is "CHANGE"

Nelkoko:
THIS DUNCE shld know dat him NO b economist dat he is a secondary sch drop out so he shld shut his trap

You Need Help....seriously

OlujobaSamuel:

your dad kicked him in 1984, meaning they are of the same age range, yet he is not wise enough to position himself to be the governor of his state maybe pmb might have no choice but to copy his template, and you the kid, you must be above 30, so should be changing your immediate political environment for good, what's your achievement bros?
although a crook, but he(dimeji bankole) is on record to be the only youth that has risen to the 4th position in this current democratic dispensation.
omo osan ti n ko ponpo ba iya e.

it is disheartening dat buhari is more interlectually dan ur pupsy... Defend ur pupsy leave dat idiot. Maybe u r our NORTHERN slave dats y u dey defend our own.

Nelkoko:
it is disheartening dat buhari is more interlectually dan ur pupsy... Defend ur pupsy leave dat idiot. Maybe u r our NORTHERN slave dats y u dey defend our own.

says a lot. Am sorry.

dunkem21:
Buhari is right here .. Nobody has given us congent reasons to devalue an *already devalued Naira* ..


..still doesn't mean that what didn't work before won't work again ..

How can you convince someone about something he has no knowledge or tangible idea about

mineANDurs:
I dont want him to devalue, he shuld do watever magic he has in mind to bring d naira down to d official value and beyond as he promised because we all know dat d naira is un-officially devalued.

Waiting.....

You don't want him to devalue but you want him to bring the Naira down to the official value? Does this sentence make sense to you?

Kainene77:


You don't want him to devalue but you want him to bring the Naira down to the official value? Does this sentence make sense to you?

Tnx.
Corrected

jameseva:
China could devalue their currency all day, everyday and retain the strength of her economy.. Reason? She's export dependent and devaluation means cheaper commodities compared to what's obtainable elsewhere. 'Steel' quickly comes to mind.. Nigeria is an import based economy and devaluation will simply mean we pay more naira for goods.. A COMPLETE NO to devaluation until we start exporting goods and services that can help stabilise the Naira

Who told you that?

princemillla:


If you can call this man a dunce them your father should be more than dunce not to train you to respect elderly person who also double as your president. Go ask you father if he sees buhari he'll prostrate.

Omo ale jati jati

Washere joor!!!

But this is 2016 and not 1984.
You see s lot of comments here you see the effects of the low standards of our university system,people just been sentimental with issues our economy, you don't bring economics of 1984 to this dynamic world economy which Nigeria plays its roles.the world is a global village, where people looks for ways things can be made easier, the president is reminding us about what happened in 1984 ,Was 1984 such a memorable year in the history of this country? The answer is no,it was a horrible period that people were jubilating when he was sacked.
How can one man control CBN,Petroleum sector and the presidency?
He can't even explain his reasons,Mr Buhari must be CONVINCED before the already devalued naira will be made official, indeed politics of 1984,politics of lies full of evil.
THIS shows that all the buck stops at his table,the last DON.
Nigeria is finished