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President Muhammadu Buhari has said that he would continue to oppose the devaluation of the naira and increase in fuel price.
TheCable reports that the president stated his resolve in Abuja on Friday night at the 2016 regimental dinner organised by the presidential brigade of guards.
The annual event is organised to mark the end of drilling year of the commission – and it is also an opportunity for officers to “mingle” with their commanders.
Buhari said that his stance against the devaluation of the naira and fuel price increase precipitated his overthrow as military head of state in 1985.
“I have resisted the devaluation of the naira, increase of the petroleum products, among others,” he told the soldiers and officers.
“When I was military head of state, I rejected similar advice by the IMF and World Bank to devalue the naira.
“I refused and gave my reasons and the next thing I knew I was removed and detained for three and a half years.
“As a civilian president, I will do my best and I’m telling you all these because you are part of the leadership of this great country and God willing we will remain great,” he added.
However, it would be recalled that since Buhari took over in May 2015, the value of the naira has dropped from N197/$1 to N300/$1 and N494/$1 at the black market.
The pump price of petrol was N86.50 per litre when the President took over but it is now N145 per litre.