President Tinubu’s Dollar Rate Promise Controversy: Lawmaker Clarifies Statements
In a recent development, the controversy surrounding President Bola Tinubu’s promise to reduce the dollar rate to N200 during the election campaign has taken a new turn. Lawan Ali, a member of the House of Representatives, addressed the issue during a plenary session held on Wednesday.
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Contrary to claims made by his colleague Beni Lar, Lawan Ali clarified that he never heard President Tinubu make the promise of bringing the dollar rate down to N200/$1 before he was elected. Ali emphasized that President Tinubu should be given some leeway, as it’s too early to evaluate his government’s performance solely based on the dollar rate.
Beni Lar had previously questioned the rise in the dollar rate during President Tinubu’s administration, considering his campaign pledge to stabilize the exchange rate at N200 to $1. Quoting the exchange rates for July 2022 and July 2023, Lar raised concerns about the observed increase in the exchange rate under the new administration.
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Ali cautioned against misquoting President Tinubu, stating, “I have never heard of the President promising to make the dollar equal to N200. The President took the bull by the horns to remove the subsidy. We must commend his efforts and not by way of challenge. We need to support him.”
Furthermore, Ali called for a fair assessment of the current government, highlighting the challenges it inherited, particularly in terms of insecurity. He stressed the importance of creating an encouraging environment for investments to foster economic growth and urged patience before passing judgment on the government’s performance.
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In response to these clarifications, it’s noteworthy that President Tinubu did outline his plans regarding the dollar rate in his manifesto. He indicated a short-term goal of strengthening the naira against the dollar to N300/$1 and a long-term goal of achieving a rate of less than 200 naira to the US dollar over the next four years.
As the debate continues, the statements from Lawan Ali shed light on the nuances of President Tinubu’s campaign promises and underline the need for comprehensive assessment when evaluating the government’s economic performance. The issue remains a topic of discussion as Nigerians await further developments.
