While speaking at the just concluded Business for Africa, Egypt and the
World Forum held in Egypt, President Buhari
reiterated his stance against the devaluation of the Naira
"Developed countries are competing among themselves and when they
devalue they compete better and manufacture and export more. But we are
not competing and exporting but importing everything including
toothpicks.
So, why should we devalue our currency?. We want to
be more productive and self-sufficient in food and other basic things
such as clothing. For our government, we like to encourage local
production and efficiency.”he said
He added that those who have developed taste for foreign luxury goods
should continue to pay for them rather pressure government to devalue
the Naira
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