President Muhammadu Buhari said the call for the devaluation of naira has put him under pressure. Buhari made this disclosure while briefing senior journalists on the activities of his government in the last one year.
The President who said he was still agonizing over the call for the devaluation of naira said he needed to be educated on the issues. “My argument has been that those who devalue their currencies have developed economies, where there is local production and they export the excess. […]
The Federal Government needs to ensure that the value of the naira against the United States dollar is more “realistic,” the US Assistant Secretary of State for Africa, Linda Thomas-Greenfield, has said.
She said the US Government would raise the issue in talks with the Nigerian government officials this week.
“Our recommendation is, and we will have discussions about it …, that they should look at the exchange rate and try to make the exchange rate more realistic to what the value […]