Economy:  FG’s decision to devalue Naira huge mistake — Thompson

By Peter Duru, Makurdi

The Middle Belt Movement for Justice and Peace, MBMJP, Wednesday raised concern over the steady slide in the value of the Nigerian Naira lamenting that at an exchange rate of about N630 to a Dollar the All Progressives Congress, APC, led administration is superintending the shameful crash of the Naira due to poor economic policies.

The group observed that the administration has completely eroded the gains and bequest of the Peoples Democratic Party, PDP, to Nigerians when the APC took over in 2015.

The MBMJP in a statement Wednesday by the Convener, Joe Bukka reminded the present administration that the Dollar exchanged for N197 in 2015, wondering why the present administration allowed the Naira to continue to drop drastically in value thereby plunging Nigerians into unimaginable extreme poverty.

The MBMJP noted that “the value of a country’s currency tells a lot about the strength of that country that is why we are insisting that this government cannot justify what they have done to the value of the Naira which is our symbol of strength.

“It is certainly unacceptable that our currency is miserably low in value under the watch of this government, exchanging for as low as N630 to a Dollar. Who could have imagined that this would be our fate after seven years of an administration that inherited an exchange rate of one Dollar to N197.

“As a result of the very poor economic judgment of this government, millions of Nigerians are passing through the worst economic crunch anyone can think of and there is no end in sight. Even smaller neighbouring countries that looked up to Nigeria for survival are now better of. That is how bad our situation in this country is under the watch of the APC led government.

“All the economic gains that were recorded by the PDP governments have been eroded by this administration. Our economy is in shambles, the Naira is fast losing its value by the day under the watch of this APC led government that gave us so much hope in 2015.

“It is sad that today life has become brutish, the average Nigerian cannot feed, unlike the situation before 2015. Today in this country the life of the Nigerian has become worthless because bandits and armed herders are roaming our communities abducting and killing innocent Nigerians at will.

“Our citizens who were kidnapped by these marauders have been abandoned to their fate and left to die in the custody of their abductors because in the estimation of our leaders the life of a Nigerian is worth nothing.

“Our children who are supposed to be in school are wasting their youthful years at home because of the strike by university teachers and workers and the government does not care because the children of our leaders are all schooling overseas.That is the sad reality we are living with but we know that this will certainly not last forever.”

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