President Muhammadu Buhari has restated his resolve not to devalue the naira or increase the price of fuel. He also disclosed that his refusal to devalue the naira and increase fuel price during his time as Military Head of State in 1984-1985, led to his overthrow. When Buhari assumed office in May 2015, the exchange rate was N197/$1. It currently stands at over N300 to $1 officially and N495/$1 in the black market.
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