FG Benefiting From Dollar-to-naira Hike – Ndume - Politics - Nairaland
Nairaland Forum / Nairaland / General / Politics / FG Benefiting From Dollar-to-naira Hike – Ndume (336 Views)
FG Benefiting From Dollar-to-naira Hike – Ndume / Tinubu Presented A Dollarised Budget, FG Benefitting From $/N Hike - Ndume / Court Convicts Ex-INEC Official Of Benefiting From $115.01m Diezani Bribes (2) (3) (4)
| FG Benefiting From Dollar-to-naira Hike – Ndume by xexofe1741(m): 10:54am On Feb 24 |
Senator Ali Ndume has said the federal government is not losing out from the naira depreciation against the dollar, but rather gaining more revenue to fund its 2024 budget. He explained that the 2024 budget, which was presented by President Bola Ahmed Tinubu last November, is a ‘dollarised’ budget in terms of income, as most of the government’s revenue comes from crude oil exports, which are priced in dollars. Speaking during an interview with Channels Television, Ndume noted that as the value of the dollar increased, the government would have more naira to spend on its expenditure, which is denominated in naira. He added that Nigeria’s major product, crude oil is still in high demand in the global market, and that the country will benefit from the current dollar-to-naira exchange rate. Benue govt issues 14-day quit notice to herders 10 countries approach ICJ against Israel’s occupation of Palestine He said, “Don’t forget that this budget is a ‘dollarised’ budget, especially in terms of the income. And when it comes to the terms of the expenditure, it’s in naira. “So if we are getting our money in dollars and the value of the dollar is up, that means we will have more naira in terms of what we spend, because we are not spending in dollars, we are spending in naira, while we are getting our revenue in dollars. Ad “Truly, the value of naira against the dollar has fallen but we are selling our major product that we generate income in dollars. And that means any dollar we get now will also be valued at the current dollar-to-naira exchange rate. “So if you do the analysis critically, it may mean if you balance it up, we may have more money to fund our budget. So technically, Nigeria is even benefiting from the dollar-to-naira hike.” https://dailytrust.com/fg-benefiting-from-dollar-to-naira-hike-ali-ndume/ |
| Re: FG Benefiting From Dollar-to-naira Hike – Ndume by Taich(m): 11:07am On Feb 24 |
Always clever by ½. The prices of naira quoted contracts have also gone up. You can't manufacture resources from the blues, fir every gain, there is a loss somewhere. That am experienced Senator does not understand this makes me wonder what we are really doing. 1 Like |
| Re: FG Benefiting From Dollar-to-naira Hike – Ndume by talk2ekpa(m): 12:29pm On Apr 25 |
I never see my money ooo... I transfered 134.8 USDT to you since 10am ooo... Please credit my account now before we take it to another level ooo!
|
| Re: FG Benefiting From Dollar-to-naira Hike – Ndume by Melagros(m): 2:04pm On Apr 25 |
COMRADES, 'dollarised budget'? This senator no get sense at all, he even said that with pride If FG is benefiting from the dollarised budget, the masses are not. Tinubu know this and have peace of mind |
(1) (Reply)
Alia Named “governor Of The Year” By Leadership Newspapers / Ibrahim Dende Egungbohun Is A Licenced Importer, Exporter, And Not A Smuggler / Where Is Fela Durotoye?
(Go Up)
| Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 9 |