EU official advises Nigeria to devalue Naira - 9JAOlofofo | Nigeia #1 gossip site.

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Monday, 3 October 2016

EU official advises Nigeria to devalue Naira

An European Union official, Fillippo Amato, has advised the Federal Government to devalue the Naira as part of measures to tackle the economic recession.
Amato, Counsellor, Head of Trade and Economics Section of EU, on Monday explained that recession could not be addressed with traditional development tools.
He said the recession was a recent development which was due to a number of factors, including the fall in oil prices and resurgence of militancy in the Niger Delta.
He 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.
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