By Temitayo Peters

OrderPaperToday- The Central Bank of Nigeria (CBN) has been tasked to stem Nigerians’ demand for dollars; to enable the naira regain its lost value in the international market.

Leading other lawmakers to move a motion on the floor of the House on Monday, Rotimi Olowo stated that the value of naira fell against the dollars due to importation of consumables by Nigerians.

The motion entitled: “Need to Control the Decline in the Value of Naira”, added that it was disturbing that some organisations have over the years demanded for payment for services in dollars; contravening CBN’s law making naira the only acceptable means of exchange for goods in Nigeria.

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“We want the President of Nigeria to direct the Minister of Power to ensure regular supply of power in the country and to direct the Governor of the CBN to stop the demands for dollars in the country and the Minister of Information should embark on campaign for Nigerians to patronise locally produced goods,” he said.

The lawmaker stressed that Nigeria is a consuming economy totally dependent on import; while exposing the country to external manipulation.

According to Olowo, the Bank of Industries (BOI) and other specialised banks should assist indigenous companies to produce to enable the reduction of the demands for foreign goods.

Speaker of the House, Mudashiru Obasa emphasised that Nigeria has an uphill task at hand and urged the Federal Government to amend the 1999 Constitution, to enable the generation and distribution of electricity to their indigenes.

“The Federal Government should be concerned about policies that would make all sectors meaningful. They should put necessary infrastructures in place and ensure safety of lives and properties.

“Our people should patronise Made in Nigeria goods and we should not allow dollars as means of exchange in the country. We have to change our attitude and ways so that we could develop our economy,” he said.

The Speaker also advised that the government should provide qualitative education and medical facilities, adding that patronising made in Nigeria goods would lead to more jobs for the people.



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