PRESS STATEMENT
DEVALUATION OF NAIRA:
TIME TO EXPLORE OTHER OPTION –CDRP
The Committee for Democracy
and the Rights of the People [CDRP] hereby rejected in totality the on-going
debate on the imminent further devaluation of Naira, coming on the heel of the
now controversial removal of oil subsidy fundamentally exposed the direction of
pro-IMF Government supervised by Mrs Okonjo Iweala aided by President Goodluck
Jonathan.
The devaluation of naira will lead to uncontrollable
depreciation which only lead to better
term of trade for Nigeria trading partners with no benefit for Nigerians; CDRP
therefore convince that the devaluation make no economic sense as the demand of crude oil which amount to
larger percentage of our export is being controlled by some cartel outside our
shore !
CDRP, view the twin
prescription of deregulation and devaluation will in the long term be fatal to
the ailing Nigeria economy, since an uncontrolled import and capital outflow in
time of economic crisis will surely lead to further crisis.
CDRP finally advise in
the interest of the masses that it is high time we peg Naira against dollar
which is our biggest trading partners otherwise Nigeria will see this
government as agent of imperialism
For:CDRP,Nigeria
Saka Waheed
Secretary General
08030771570
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