Nasarawa State’s Gov. Sule laments dollar hike, as USD sells at N900

November 3,2022

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.