Institute cautions FG against devaluation

The National Institute of Marketing of Nigeria(NIMN)  has cautioned the federal government against devaluing the nation’s currency as advised in some quarters.
Mr. Ganiyu Koledoye, the president of the Institute, said in Lagos, weekend, that rather than devaluing the  currency with attendant pains to Nigerians, the federal government should boost crude oil production locally and export.
Koledoye, who spoke at a  pre-event press conference of 2015 Marketing Week, said that the development would go a long way in availing the country  more revenue to fix its economy in the face of the falling crude oil price in the international market and  a crash in the local currencies.
He said: “We should bring to the fore what we can create in order to increase our export. We should not expend resources on areas we are not sure of potential income. We should do aggressive market research in this area.”
Koledoye spoke on the Institute’s plan to professionalise marketing practice in Nigeria through issuance of license and examination of marketers in the country. He said  the  body was considering pruning its seven divisions to three, comprising Corporate Affairs, Finance and Administration and Marketing Service, with a view to strengthening the Institute for better service.