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Foreign Exchange: Tinubu Sets N1,500/Dollar Rate In 2025 Budget, Gives Reason
Nigeria

Foreign Exchange: Tinubu Sets N1,500/Dollar Rate In 2025 Budget, Gives Reason

by  Adekunle Dada 1 min read

Legit.ng journalist Adekunle Dada has over 7 years of experience covering metro, government policy, and international events

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FCT, Abuja - President Bola Ahmed Tinubu has set an N1500 to a dollar exchange rate target in the 2025 Appropriation Bill

Legit.ng recalls that President Tinubu presented the 2025 budget to the joint session of the 10th National Assembly in Abuja on Wednesday, December 18.

President Tinubu sets N1,500/Dollar rate In 2025 budget
Tinubu explained that the target was to ensure the smooth implementation of the 2025 budget. Photo credit: Asiwaju Bola Ahmed Tinubu
Source: Facebook

President Tinubu explained the exchange rate target was to enable his federal government-led administration to ensure the smooth implementation of the 2025 budget.

According to The Channels Television, the exchange rate target marks a reduction of about N200 from the current rate of N1,700 to a dollar.

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“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."

Source: Legit.ng

Authors:
Adekunle Dada avatar

Adekunle Dada (Politics and Current Affairs Editor) Adekunle Dada is a trained journalist with over 7 years of working experience. He is also a Politics/Current Affairs Editor at Legit.ng. He holds a B.Sc. in Mass Communication From Lagos State University, Ojo. Adekunle previously worked at PM News, The Sun, and Within Nigeria where he expressed his journalistic skills with well-researched articles and features. In 2024, Adekunle obtained a certificate in advanced digital reporting from the Google News Initiative. He can be reached via adekunle.dada@corp.legit.ng.

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