Tuesday, March 29, 2016

President Buhari to Devalue Naira as He Departs Nigeria for USA Tomorrow

This journey may bring an end to whether Naira will be devalued or not as US government revealed earlier today that they will press President Buhari to devalue Nigerian Naira in a bid to end the economy crises ravaging the largest economy in Africa. If you missed that earlier report, you can still follow up here.

Now, according to vanguardngrPresident Muhammadu Buhari would depart Abuja for Washington DC, capital of the United States of America on Wednesday for the 4th Nuclear Security Summit.


The president is expected to join President Barack Obama and about 60 other world leaders and heads of international organisations for the summit.

President Buhari would be accompanied on the journey by the Governor Mohammed Abubakar of Bauchi State, Governor Abdulfatah Ahmed of Kwara State, the Minister of Foreign Affairs, Mr. Geoffrey Onyeama, the National Security Adviser, Maj.-Gen. Babagana Monguno (rtd.) and the Director-General of Nigeria’s Nuclear Regulatory Agency, Professor Lawrence Anikwe Dim.


A statement by the presidential spokesman, Mr. Femi Adesina stated that “At plenary sessions of the summit which is dedicated to reinforcing international commitment to the non-proliferation of nuclear weapons, President Buhari will insist that while Nigeria will continue to sustain that commitment, world powers must respect the right of other countries to the peaceful use of nuclear energy for development purposes.

The President will also “reaffirm Nigeria’s stance that international efforts to ensure greater security of nuclear materials should maintain a balance between nuclear non-proliferation obligations and the indisputable right of Nigeria and other countries to harness nuclear energy and technology for socio-economic development.”

The statement “recalled that at a meeting with him in Abuja earlier this month, President Buhari told the Director-General of the International Atomic Energy Agency, Mr. Yukiya Amano that the Federal Government will welcome greater support from the agency for Nigeria’s aspiration to begin the generation of electricity with nuclear energy.”

On the sidelines of the meeting, president Buhari would also hold bilateral meetings with other participating Heads of Government and high-ranking United States Government officials.

He would return to Abuja on Sunday upon the conclusion of his assignment.

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