Saturday 31 December 2016



Buhari Afraid of Naira Devaluation Because That was Why He was Overthrown in 1984


The President has resolved to reject any move to increase the fuel price and devalue the naira as he said the last time he did it cost him his government.
President Muhammadu Buhari
 
President Muhammadu Buhari has said he will not support any move to devalue the naira and increase fuel price, TheCable reports.
 
The president made this known in Abuja on Friday night at the 2016 regimental dinner organised by the presidential brigade of guards. The annual event is organised to mark the end of drilling year of the commission – and it is also an opportunity for officers to “mingle” with their commanders.‎
 
Buhari said that his stance against the devaluation of the naira and fuel price increase precipitated his overthrow as military head of state in 1985.
 
“I have resisted the devaluation of the naira, increase of the petroleum products, among others,” he told the soldiers and officers.

“When I was military head of state, I rejected similar advice by the IMF and World Bank to devalue the naira.

“I refused and gave my reasons and the next thing I knew I was removed and detained for three and a half years.

“As a civilian president, I will do my best and I’m telling you all these because you are part of the leadership of this great country and God willing we will remain great,” he added.
 
At present, the official exchange rate of the naira is N300/$1, while it is N495/$1 at the black market. It was officially N197/$1 when Buhari assumed office in May 2015.
 
The pump price of petrol was N86.50 and has increased to N145.
 
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Reliance Training and Management Consulting, a dynamic, fast growing indigenous entity, was established and duly registered with the aim to nurture, develop and innovate people and organisations through customized training, development and management consulting services, with excellent performance, deep sense of commitment, transparency, honesty and responsibility, to demonstrate the highest standard of technical and operational expertise.
 


 
Reliance is competently positioned to provide technical knowledge and skills relevant to practical management and business problems, to stimulate the creativity and innovation necessary to build a better community, a better nation and a better world with a committed mind set to contributing our best to the maximization of personal potentials and skills toward optimizing productivity and achieving organisational goals.
 
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