Senator Ayo Arise
- Ascribes situation to unstable oil price in international market
Chieftain of the Peoples Democratic Party, Senator Ayo Arise, has
lambasted the All Progressives Congress for blaming President Goodluck
Jonathan for the currency devaluation being experienced in the
country.
Arise declared that the dwindling fortunes of oil price in the
international market accounted for the fluctuation of naira’s value
and should not be erroneously ascribed to President Jonathan’s incompetence, as being flaunted by APC.
and should not be erroneously ascribed to President Jonathan’s incompetence, as being flaunted by APC.
Briefing newsmen in Ado Ekiti on Friday, Arise, who was the Chairman,
Senate Committee on Privatization between 2007 and 2011, said the sordid
scenario will continue to play out in the country, except the country
addresses its sole dependence on oil.
Arise said the currency devaluation is not new to Nigeria, saying it
has become a global problem that cannot be taken as a local affair or
politicized under any guise.
The ex-senator advised the APC to stop making political capital out of
nothing, saying no candidate can win presidential elect ion on the basis
of falsehood.
Arise said:”Currency devaluation is not new to Nigeria or any country
across the globe. Between December and now, Euro has lost 15% value in
the international market, naira as well. Even Russian currency, Ruby has
lost same rate of value. So, it is a global issue that cannot be
localized.
Details later
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