Governor Dapo Abiodun predicts that the dollar will experience a significant decline within the next month.

Governor Dapo Abiodun of Ogun state has asserted that the exchange rate between the dollar and the naira will plummet within a month. Addressing a stakeholder meeting at the Cultural Center in Kuto, Abeokuta, he mentioned that the federal government is ready to confront the escalating economic challenges and is cognizant of them.

He stated, “I guarantee a significant decrease in the value of the dollar within a month. The meeting with the President was reassuring, revealing saboteurs in the economy, but their intentions will not prevail. Given the circumstances, we’ve decided to supply crucial food items like rice, garri, and beans to our citizens. Nearly 100 trailers of rice have been arranged for delivery, with unloading commencing 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 also disclosed that rice and other food items will be provided for about 300,000 households throughout the State as palliatives. He said; 

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.” 

Leave a Reply

Your email address will not be published. Required fields are marked *