Renowned Chartered Accountant and chieftain of the Delta State All Progressives Congress (APC), Chief Ede Dafinone has warned the federal government not to devalue the Naira but to fix the economy so that everything falls into shape.
Dafinone gave the charge, weekend at Ovu in Ethiope East Council Area during the installation ceremony of Dr. T. E. Salubi as Osuivie of Ovu.
According to him, the current exchange rate is just a symptom of the problem as Nigeria is going through recession. He argued that in a recession period what government needs to do is to restructure its organ and reinvigorate more investment from abroad.
“The exchange rate is only a symptom of the problem. We don’t fix our economic problems by devaluing the Naira. The exchange rate will reach the right place when the economy is fixed.
“Devaluing will not solve the problem, I think reinvigoration has to come from new investment and possibly such new investment from outside the country may be the fastest way.”
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