Showing posts with label devaluation. Show all posts
Showing posts with label devaluation. Show all posts

Thursday, November 27, 2014

APC criticises devaluation of naira

The All Progressives Congress  has criticised the devaluation of naira and described the development as not healthy for Nigeria’s economy.

The National Publicity Secretary of APC, Alhaji Lai Mohammed, on Wednesday in Abuja told newsmen that the devaluation of currency had its implications on the people and the economy.

Mohammed, “When the currency is devalued, it is the worst thing that can happen to any nation.

“All it means for a country like ours, which is import dependent, is that more naira will be needed to buy raw materials and machines.