According to the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, the naira is in its best possible health against the dollar.
Shehu said this while featuring on Channels Television’s ‘Sunday Politics’ programme monitored by mNaija.
mNaija earlier reported that the Central Bank of Nigeria has officially devalued the Nigerian Naira and made it N410.25 as its official exchange rate to the dollar. It confirmed this new official rate on its website after it had removed N379/$ earlier in May.
The naira was N197 to 1$ in 2015 when Major General Muhammadu Buhari (retd.), who is the principal of Shehu took over as Nigeria’s president.
Shehu while responding to a question on the naira-dollar rate in 2015 and in 2021, said, “I think the economists are more competent to talk about this but the naira is in the best possible health that it can be given the circumstance we are in.”
He went further to take on those who criticizes the Buhari government’s lack of capacity to manage the economy, the presidential aide said, “If you ask me this question, I will tell you that whoever questions the capacity of the government to manage the economy probably also need to have themselves re-examined because look at all of the things that have happened with COVID over the last year or more.
“Can you see that in the entire Africa continent, this is the only country that is recording positive growth in its economy? Everybody is going under but our people are working day and night to ensure we don’t go under, we don’t go down as other countries.”
“As far as I know, this government has the best team that anybody can have on the continent because the facts are there speaking for the administration,” he stressed.