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See Why Buhari Refuses to Devalue the Naira

Buhari-Budget Presentation
President Muhammadu Buhari has refuted calls for further devaluation of the Naira saying that it is one decision he is not ready to make at the moment; he explained his reason for his stand on the issue. In light of this 3 reasons President Buhari stated for refusing to devalue the naira…
1. Further devaluation of Naira would kill the currency.
2. The president said he was not also ready to inflict more hardship on the poor citizens of Nigeria who have already had doses of penury.
3. He stressed that while export-driven economies could benefit from devaluation of their currencies, Naira devaluation would only result in further inflation

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