• Business - Economy
  • Updated: February 23, 2024

Dollar will crash against naira soon — Governor Abiodun

Dollar will crash against naira soon — Governor Abiodun

Dapo Abiodun, Governor of Ogun State

The governor of Ogun State, Dapo Abiodun, has stated that the value of the dollar to naira will crash in less than a month.

Abiodun said this during a stakeholder meeting at the Cultural Center in Kuto, Abeokuta, in response to the nation’s increasing economic difficulties.

He clarified that the governors’ emergency meeting with President Bola Tinubu served as the foundation for the guarantee.

According to the governor, the federal government is prepared to take on ‘these difficulties head-on and is aware of them.’

He said: “I can assure you that the dollar will crash down in less than a month. The meeting we had with the President was very assuring and now we know that there are saboteurs in the economy, but their aim will not succeed

“In light of the current situation, we have made the decision to provide our citizens with essential food items such as rice, garri, and beans. I have arranged for nearly 100 trailers of rice to be delivered, with offloading beginning tomorrow.

“To ensure fair distribution, we have decided that the elderly and vulnerable will receive the rice free of charge, while others will be able to purchase it at the original price before the increase in the value of the dollar. This will allow us to sustain the initiative until the dollar issue is resolved.”

Abiodun said that rice and other food items will be provided for about 300,000 households throughout the State as palliatives.

“The state government will commence to offset the backlog of inherited deductions. To this end, we are immediately committing N500 million monthly payments towards outstanding deductions. It is noteworthy that we have continued to pay N10,000 transport allowance to all civil servants for the last 8 months.

“This brings our total immediate interventions as a responsible State Government to about N5 billion across all sectors of the State economy,” the governor submitted.

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