2022 budget: We need sustainable exchange rate to survive in Nigeria ― Sekibo

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…says if 2016 rate of N197 to a dollar was sustainable 2022 budget would have been $83bn not $39bn

Senator George Sekibo on Thursday said Nigeria’s inability to come up with a sustainable exchange rate is one of the major problems confronting the country.

The Senator representing Rivers East Senatorial District using exchange rates between 2016 and 2019 in his analogy said:

“If the exchange is N197 as it was in 2016 the budget of N16trn would have been $83bn and not $39b and in the worst case scenario if the exchange rate is N306 as it was in 2019 the budget would have been $53bn.

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