Presidency urges Nigerians to think of how they can earn Dollars

chika ebuzor

January 14, 2017 5:08 PM

Presidential spokesman, Mallam Garba Shehu made the statement on a Channels TV programme.

President Muhammadu Buhari

The Presidency has called on Nigerians to be more creative in the face of the harsh economic crisis, so they can attract foreign currency and end the Dollar scarcity.

According to Vanguard, Senior Special Assistant to President Muhammadu Buhari on Media and Publicity, Mallam Garba Shehu made the statement on a Channels TV programme.

Shehu also revealed that the measures which the Federal Government put in place, actually kept the Dollar from skyrocketing.

Also speaking on the protest held by some Nigerians in Abuja, over the rate of the Dollar, the presidential spokesman said “Unfortunately, I am not an expert in these matters but to my layman’s understanding, we have a Dollar crisis. Dollar inflow into Nigeria is short. Whatever that is short in terms of supply creates demand in high proportions. It would have been worse if the government has not taken quite a number of measures including the restriction of our scares foreign exchanges to sectors that are very critical, that create jobs, that generate income to the country.

“The Central Bank of Nigeria, CBN had already dismissed those protests. In a system, no matter how rotten it is, it produces beneficiaries. People are happy with the old order, when people will go, take US Dollar form the CBN, and go to the Bureau De Change. Now, CBN doesn’t sell Dollars. It is the commercial banks that sell. What I think needs to be done is that beyond the government, all of us as Nigerians have a responsibility. What do we do? Let us be more creative, try to export more, try to produce local goods that sell abroad, so that more Dollars would come. Let us continue to stabilize the ongoing situation in the Niger Delta so that earnings from the oil sector are not disrupted. When we have more Dollars coming in, they will sell cheaper.”

ALSO READ:'I promised Nigerians too much while seeking for votes,' Buhari says

You will recall that Buhari, on Monday, March 23, 2015, during his South-East Presidential rally, while vying for office, at Dan Anyiam Stadium in Imo State said he would make sure that the Naira becomes equal to the dollar in value, if he was elected into office.

chika ebuzor

Enhance Your Pulse News Experience!

Get rewards worth up to $20 when selected to participate in our exclusive focus group. Your input will help us to make informed decisions that align with your needs and preferences.

I've got feedback!