₦airaland Forum

President Bola Tinubu, on Wednesday, stated that the Federal Government aims to stabilise the exchange rate at N1,500 to the dollar to ensure the smooth implementation of the 2025 budget.

This marks a reduction of about N200 from the current rate of N1,700 to a dollar. Tinubu made this known while presenting the 2025 Appropriation Bill to a joint session of the 11th National Assembly in Abuja.

He said, “The budget projects that inflation will decline from the current rate of 34.6% to 15% next year, while the exchange rate will improve from approximately N1,700 per dollar to N1,500. The base crude oil production assumption is set at 2.06 million barrels per day.

“The projections are based on the following observations: reducing the importation of petroleum products, increasing exports of refined petroleum products, and achieving a bumper harvest driven by enhanced security, which will reduce reliance on food imports. Additionally, we aim to increase foreign exchange inflows through foreign portfolio investments.

“Our crude oil output and exports will improve, coupled with a substantial reduction in upstream oil and gas production costs.”

dre11:
https://punchng.com/tinubu-eyes-n1500-dollar-rate-in-2025-budget-goals/?amp

gare:
is that an achievement? I say make i ask

Shawarmagirl:
What did I just read?
Before APC took over power Dollar was N216 to Naira

jmoore:
How will inflation rate decline, when the factors of production are still at high price?

Will you sell petrol at 300 naira per liter?
Or it will happen with babablu magic?

SiIver:
That is to say the naira has come to stay at cover 1500 and above