“Diaris God O”: LP Chieftain Shades Tinubu's Govt Over Current Naira to Dollar Exchange Rate

• A prominent member of the Labour Party (LP), Rivers state chapter, Hilda Dokubo, criticised the current naira-to-dollar exchange rate
• Legit.ng reports that the exchange rate of the United States (US) dollar vis-à-vis the naira is rising rapidly
• In a social media post, Dokubo pointed out that under President Bola Ahmed Tinubu, the naira to dollar exchange rate 'increased from N450 to N1500 in eight months'

Legit.ng journalist Ridwan Adeola Yusuf has over 9 years of experience covering the Nigerian economy.

Port Harcourt, Rivers state - A chieftain of the Labour Party (LP) in Rivers state, Hilda Dokubo, has lamented the impact of the naira fall.

Igbokwe, a top campaigner of presidential hopeful, Peter Obi, bemoaned the unfavourable exchange rates.

Current naira to dollar exchange rate off-putting

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The actress-turned-politician made a comparison of the naira to dollar exchange rate during the past administrations of Goodluck Jonathan and Muhammadu Buhari.

The LP stalwart wrote on her known X page:

"Under a clueless man dollar stayed between 160-165 Naira for 6year. Under the most righteous one it went from 165 to 550 in six months and to 450 officially and 700 black market for 8 years. Under ‘My turn’ it has gone from 450 to 1500 in eight months. DiarisGod o."

Legit.ng reports that traders in Nigeria observed that the local currency plummeted against the dollar at the black market — also referred to as the parallel market. The exchange rate for the dollar to the naira was $1 to N1450 in the parallel market, on Friday, February 2.

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What to read about naira and dollar:

• “It is possible”: FG speaks on naira to dollar exchange rate, sets new target for 2024
• Naira to dollar new exchange rate shows gap at official and black market now N146
• "We expect": UK firm sets new exchange rate for naira against dollar

"I cannot keep the dollar": Igbokwe

In a piece of related news, Legit.ng reported that a chieftain of the ruling All Progressives Congress (APC) in Lagos state, Joe Igbokwe, lamented the impact of the naira fall.

Igbokwe, a notable supporter of President Tinubu, bemoaned the unfavourable exchange rates.

Anambra-born Igbokwe stated that presently, he cannot keep the dollar or any other foreign currency.

Source: Legit.ng