President Muhammadu Buhari further justified his stance on the devaluation of the naira on Friday, when he met with retired permanent secretaries in Abuja.
The President said the Nigerian currency was strong until he was removed as head of state in 1985.
Buhari maintained that he’s still not convinced that a large percentage of Nigerians will benefit from the devaluation of the naira.
“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.”
Leave a reply