The Governor of Nasarawa State, Abdullahi Sule, said the hike in dollar rate is affecting the common man in Nigeria, and it is worrisome to him.
On Wednesday, Sule said the dollar was around N818, although Ripples Nigeria’s Naira Watch had reported on Thursday that the rate is now between N840 to N900 in black market based in Lagos State.
The governor told Channels TV that, “I am extremely worried. But again, it takes you back really to understand, ‘Does it worry me?’ Of course, it worries me very badly.
“Because is that making it a little easier on the part of the common man? No. The common man is actually going through the heat during this period.
“In fact, when I saw it yesterday, I was shocked to see the naira going all the way to N818 for a dollar.”
Sule also aligned with opinions that the decision of the Central Bank of Nigeria (CBN) to release redesigned naira notes drove the value of dollar up.
His comment followed the statement of Edo State Governor, Godwin Obaseki, who criticised the CBN decision, stating that it isn’t a priority for Nigerians.
Obaseki stated, “They say we should all bring our naira and give it to them because they want to change it for us. Is that our priority now?
“How does changing of currency reduce the price of food in the market? They say they want to change our currency and dollars are going higher every day. We can’t even see dollars again.
“I am an economist and I can tell you categorically that this policy by the CBN and Federal Government has no basis in economics. There is no reason to do this; this is purely political.”
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: 4 yrs after completion, Kwara PHC facility inactive, rural dwellers in pains
In the middle of the night sometime in September 2019, Fatimah Ballah struggled with severe pains as she tries to...
INVESTIGATION: How Oyo State, contractors spent N1.1bn on water projects, but communities don’t have a drop
Multimillion naira water projects largely initiated by the late Abiola Ajimobi-led state government in Oyo State to benefit over 40...
INVESTIGATION: In Cross River, civil servants retire into poverty as govt looks away, squanders funds on frivolities
Thousands of civil servants in Cross River State struggle to stay alive as they are denied their gratuities and monthly...
Students suffer as contractors abandon Kano school projects after receiving over N70m
In 2019, to improve the condition of public schools in Kano State, the Federal Government disbursed millions of naira to...
SPECIAL REPORT: World Bank road projects go bad in Enugu, as state govt fails to fulfill promise
Counterpart funded road projects between the world Bank and Enugu State government have started to fail, as the state government...