By Akpokona Omafuaire,
Renowned Chartered Accountant, and chieftain of Delta State All Progressives Congress, APC, Chief Ede Dafinone has warned the federal government not to devalue the Naira but to fix the economy and every thing will fall into shape.
Dafinone pointed out that 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.
According to Dafinone, “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.”
Dafinone pointed out that most government organs are badly run and needs to be restructured and be made more efficient.
He then called for serious investment rather than moan and complain about the current recession situation.