‘Tinubu’s govt benefiting from dollar rise against naira’, Ndume alleges
Dollar Rate to Naira: Senator Ndume Says Tinubu’s Govt Benefiting From Hike – TheTalk.NG
- A prominent senator, Ali Ndume, has said that the federal government is not losing with the current United States (US) dollar rate to the Nigerian naira
- TheTalk.NG reports that the exchange rate of the dollar vis-à-vis the naira is rising rapidly, prompting concerns from most Nigerians
- Senator Ndume explained that the current federal budget relies heavily on dollar-denominated revenue, and the FG is benefitting from the exchange rate hike
Nigeria is grappling with soaring with plummeting currency. Photo credit: @PO_GrassRootM, @KemPatriot, @NGRPresidentSource: Twitter
“Don’t forget that this budget is a ‘dollarised’ budget, especially in terms of the income. And when it comes to the terms of the expenditure, it is in naira.
“So if we are getting our money in dollars and the value of the dollar is up, that means we will have more naira in terms of what we spend.”
More to read about dollar rate to naira:
Igbokwe laments naira to dollar exchange rate
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