By Solomon Okpere
President Muhammadu Buhari on Friday
said that his reason for the insisting on no further
devaluation of Naira was that the recent ones never
paid Nigeria any good.
The president who spoke while meeting with the
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.
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