We Don’t Need E.U. Chief’s Advice On Devaluation Of Naira

An advise by the Head of the Trade and Economics Section of the European Union, Mr Fillippo Amato, to devalue the Naira, has been regarded as an 'unwelcome counsel'.



The E.U. Chief in an interview with the News Agency of Nigeria (NAN), said, “To come out of recession, the country has to take brave decisions, regardless of how unpopular they may be such as fully and effectively devaluing the Naira. Devaluing the Naira is a measure, which will finally reassure investors and attract new capital to the country. At the same time, it will further reduce imports, thereby removing artificial foreign exchange restrictions and removing any potential waste of scarce resources”.

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