Prez M. Buhari – ” … while export-driven economies could benefit from devaluation of their currencies, devaluation will only result in further inflation and hardship for the poor and middle classes in Nigeria’s import-dependent economy.”
I love that the president recognized that devaluing the Naira put unnecessary burden on the average Nigerian. I would have liked it better if he had added that he will get there when he transformed the hitherto import economy to export economy. To say that his administration is committed to achieving that objective or at least laying the foundation for a export economy. Nigeria has a fast growing middle class and 20% of Africa south of the Sahara population which means we have leverage. Durable goods manufacturers who want to d business in Nigeria should invest in manufacturing their products in Nigeria. Nigeria has a large pool of educated cheap labour, there is no reason for the slight by multinationals.
That was the good, now to the ugly, the statement that totally soured everything positive feeling I had for the previous statement and that is:
Prez M. Buhari – “The President reaffirmed his conviction that about a third of petroleum subsidy payments under the previous administration was bogus”
These are not the words one would expect to hear from a president. You don’t speculate, you state facts as you know them. If you think they are bogus, keep that to yourself and quietly investigate to get at the facts then tell the people. Will you come back at a future date to apologize to the Nigerian people and the previous administration if indeed your speculation cannot be proven? Do you think that those you slandered in this statement should sue you for slander or defamation of character if you can’t prove the assertion?
You, Mr Buhari are a president and conventional wisdom dictate that you don’t start off maligning your predecessor especially without facts to back up the claim. You as they say, those who live in glass houses shouldn’t throw stones.
God bless Nigeria.