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Tuesday, 1 November 2016
How Buhari can crash the Dollar/Naira disparity - Ifeanyi Ubah
The MD of Capital Oil and Gas has offered the Buhari-led administration what he described as the best possible ways to addressing the biting recession, as well as crash the proliferating Dollar/Naira disparity. .
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Speaking at the World Youth Gathering, Holy Ghost Adoration Ground, Uke, Anambra State, Ubah lamented that there is nothing wrong with the Nigerian economy, but rather said the country’s major problem is that it has bad economic managers.
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Recall that last February, Ubah had vowed that if consulted by Pres. Buhari, he could use his technical-know-how to stabilize the Naira to an exchange rate of N200=$1.
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He said: “I said that I am going to bring down the dollars, I sought for consultations because in the past I have done so many things and at the end of the day, people took the glory. .
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This is an issue that is very important to me. Government must understand that Bill Gates, one of the richest men in the World today said, ‘it’s not about academics, it’s about being streetwise.’ Money-making is an art. .
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There is nobody that can’t make money. It depends on how you design the art of how you want to make money. Now, let me give you an example today and let me also proffer a solution to Nigeria’s economic problems.
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The biggest Forex consumer in Nigeria today, is the Petroleum Product (Downstream), of which I am the leader. Petroleum products take over 75% of the Forex that Nigeria generates. .
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The only solution to Nigeria’s economic problems is addressing the cancer to our Forex which setting up 10 modular refineries can solve that problem, so that the demand for Forex needed for the importation of petroleum products will crash.
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If you do that, you have taken away 75% of that cancer that is taking away our dollars. This solution is coming today in the Adoration Ground and this is the first time I am saying it. .
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That is the secret I said I need them (government) to consult me. But today, if they can translate it, they will know that Holy Ghost of Adoration Ground has revealed
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