Advocates of devaluation were yesterday told to forget it because it will hurt the economy. President Muhammadu Buhari in a broadcast to mark his administration’s one year in office and the 17th anniversary of uninterrupted democracy, spoke on a variety of issues affecting the polity in a 30-minute speech broadcast between 7a.m. and 7.30a.m.
The Federal Government has been hailed for fighting corruption and insecurity but the accolades have been trickling in on the economy. The President said he would continue to keep an eye on measures introduced to stabilise the economy, adding that he supported the monetary authority’s decision to ensure alignment between monetary policy and fiscal policy.
“We resolved to keep the naira steady as, in the past devaluation had done dreadful harm to the Nigerian economy.