The national chairman of the All Nigeria Peoples Party (ANPP), Dr. Ogbonnaya Onu, yesterday said that the recent devaluation of naira by the federal government is an ill wind that will blow no good but will worsen the already battered economy.
He stated this while addressing the delegation of the United Nations Development Programme (UNDP) Inter Party Capacity Needs Assessment Team led by the former national secretary of the Action Congress of Nigeria (ACN), Dr. Usman Bugaje, at the party’s national secretariat in Abuja.
Onu stated that it is incomprehensible for the government to devalue the naira, when the prices of crude oil remains high in the international market and Nigeria is able to meet export volume of crude oil.
“We are worried about the state of our economy. The federal government recent devaluation of the naira is disturbing. Our worry is, how can the government devalue the naira when the cost of crude oil in the international market remains high and we are maintaining the large export of crude oil? he queried.