Self-proclaimed public affairs commentator and political strategist, Hamma Hayatu has taken to social media to lampoon President Muhammadu Buhari over Naira’s devaluation under his government.
Naija News reports that Hayatu took to the microblogging platform, Twitter to point out how Nigeria’s currency (Naira) was ridiculed against the Dollar from the era of former President Olusegun Obasanjo to his successor Late Umaru Musa Yar’Adua, coming down to Goodluck Ebele Jonathan and now Buhari.
While observing that Buhari’s predecessors were fair enough in managing the Dollar to Naira exchange rate, Hayatu knocked the incumbent leader for having a record of about 205% devaluation of Naira against the Dollar under his administration which will end in less than a year.
Hayatu who was once a believer of the Buhari’s administration is suggesting that previous governments tried to stabilize Nigeria’s economy more than the incumbent government.
His Twitter post read: “Obasanjo met the dollar at N85 naira and left it at 120 which is 41% devaluation.
“Yaradua met it at 120 and died at 150 25% devaluation.
“GEJ met it at 150 and left at 200 33% devaluation.
“Buhari met it at 200 and now at 610 that is 205% devaluation.
“Buhari finished the naira,” the political analyst said.
Though the incumbent government has claimed in some reports that the nation’s economy was further affected by the emergence of the Coronavirus, Naija News recalls that Naira to Dollar was still at a ridiculous rate before the Covid-19 pandemic.
Meanwhile, even at the last weekend, the Nigerian currency (Naira) stood at N611 to the dollar in the parallel market, popularly known as the black market.
Naija News reports that the naira’s official rate stands at 419.02 at the Investors and Exporters window, after several dips on Friday.