Tony Okafor,Awka

Ubah reveals how to crash dollar high exchange rate in 30days, reduce cement price


Senator representing Anambra South District, Chief Ifeanyi Ubah, has said that he can reduce the exchange rate of the Dollar to Naira to N800 per Naira within 30 days if given the chance.

He also said the only way to crash the high cost of cement is to provide license to small and medium scale industries for the production of cement in the country.

Ubah spoke to journalists during a four-hour tour of his projects in his hometown, including six-storey Nnewi Height Media and Event Centre, stadium and 5-Star Hotel.

He said his reason for aspiring to become Anambra Governor was to replicate what he had done as a private person in Nnewi and environs in the entire Anambra State as governor if elected.

Ubah had recently indicated interest to contest for the 2025 governorship poll in the state, stating that he had sufficient experience and capacity to win the election for his party if given the opportunity.

He said," Our great state, has reached a point where business accumen and strategic leadership must be brought to the table to radically transform her current position to a formidable economic power house for the benefit of the greater number of her hardworking citizens in particular, and the Nigerian nation at large.



“I have done it before in the petroleum sector even when I was not a senator and it worked and the prices fell and our people were happy and we need a legal frame work to protect forex and that is what government can do to show transparency “

“There is the need to look into our forex market because every money that comes out of the Central Bank of Nigeria that is meant for importation and those that need them don’t go to the real importers and 80% of that money go into wrong hands”

“In the case of the exchange rate of dollar to naira , just give me 30 days and I will bring down the dollar to N800.00 per dollar”


“If government can set up a parallel line for dollar at N700.00 per dollar it will not go beyond N720.00 or N730.00 per dollar because the people involved know what they are making from the present circumstances and they are those eating deep from the federal government”

“Why would you come come and give somebody money and you don’t have a backend cheque? And because of that they keep having field day and using the money to enrich themselves."

On the issue of cement crisis, Ubah contended that the cause of hike in the price of cement waa trade monopoly, insisting that small and medium scale industries should be given license to produce cement.

“Let us abolish the monopoly in the business of producing cement in Nigeria because it is that monopoly that is causing the hike in the cost of cement”

“Only one person cannot answer to the cement needs of all Nigerians and we all know that we have enough lime stone in this country and if you issue license to small and medium scale industries it would make for competition and the cost of cement would drop drastically”

“We have limestone in Ebonyi, Sokoto and Edo states just to mention but a few and when you give these small and medium scale industries the approval to operate those firms the monopoly would be eradicated and the price would ultimately go down.

Ubah while on the tour explained that the Nnewi Height Media and Event Centre would employ over 500 Nigerians and would house his Authority TV, Authority Newspaper, the studios, cinema house, event centre and accommodation for staff and visitors.


He also announced that his 38,000 capacity Football stadium would have a 5-star hotel and games village contending that with the gargantuan investments in Anambra state he would not allow his state to retrograde,adding that that was why he had made his intentions to contest for the gubernatorial seat of Anambra state come November 2025.

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Absolute rubbish!