Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


Abubakar slams currency devaluation

28 November 2014, 10:54Augustine Osayande

Abuja - Former Vice-President, Atiku Abubakar, has criticised the recent devaluation of Naira by the Central Bank of Nigeria (CBN) arguing the move would affect the unemployed and small business operators in the country.

“If you are a young Nigerian who does not have a job, CBN's devaluation of the Naira will likely affect you. If you own a small business, the interest rate hike will likely affect your business. Commodities like petrol and diesel are likely to become more expensive. Everything that is imported or needs imported raw materials is going to be more expensive,”
Abubakar said.

Recently, CBN devalued the local currency after a weakening spell against the US Dollar.

Also Read: Analysts positive about CBN measures to save naira

He said his policy document was designed to ensure that Nigeria's economy finally stopped its over-reliance on oil.

“Agriculture, small and medium scale manufacturing, Internet technology and services are the future if Nigeria is to become truly independent of oil. We will ensure that small business owners can find the funds improve their operations, put more money in the pockets of ordinary Nigerians and as a result, create more jobs,” the presidential aspirant said.

Abubakar assured youths jobs if elected in 2015.

- CAJ News

Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...