Media and Politics News Analysis

Call For Naira Devaluation Is ‘Foolish’ – Gov. Oshiomhole

By Gilbert Alasa.
Edo State Governor, Comrade Adams Oshiomhole, has described  suggestions of naira devaluation to strengthen the nation’s currency as “foolish”
Oshiomhole, while speaking on Thursday at a colloquium organised by an independent online newspaper in Nigeria, The Cable, said previous attempts to devalue the naira resulted in more woes for the country.
In Oshiomhole’s words, “A drug you administered on your child in 1986 and it didn’t work, administering the same in 2016 would be foolish, besides there are no statistics to explain the advantages of devaluation of the naira”.
 
Last year, President Muhammadu Buhari said advocates of the devaluation of Naira would have to convince him how the policy would strengthen the country’s economy, before he would approve it.

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