- As Nigeria’s currency struggles against the US dollar, Primate Elijah Ayodele has released a prediction
- Legit.ng reports that the outspoken cleric disclosed that no matter what, the dollar will not exchange at N650 under the Bola Tinubu administration
- Primate Ayodele projected that the Nigerian economy will fluctuate, will be unstable, and inflation rates will rise astronomically
Legit.ng journalist Ridwan Adeola Yusuf has over 9 years of experience covering economic matters.
Oke Afa, Lagos state – Primate Babatunde Elijah Ayodele, the founder and spiritual head of the INRI evangelical spiritual church, Lagos state, has said dollar to naira exchange rate will fluctuate between N800 and N1,200.
Primate Ayodele stated this in a clip posted on his official X (formerly Twitter) handle recently.
Source: Twitter
According to him, under the current realities, the CFA franc will be stronger than the Naira.
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The cleric said he has not seen anything better, “for the future looks gloomy”.
He said:
“Dollar will be between N800, N1,000, N1,200. Dollar will not come to N650. It will not – no matter what.”
Watch Primate Ayodele’s video below:
Legit.ng reports that it has now been close to one year since Bola Tinubu assumed office as president and Nigerians are grappling with a steep rise in the cost of living.
As Nigerians seek coping strategies to adjust to their new economic reality, more economic shocks may be coming.
Recently, the government announced a hike in electricity tariffs.
The Nigerian Electricity Regulatory Commission (NERC) ordered the immediate upward review of electricity tariffs from Wednesday, April 3.
Groups including the Petroleum and Natural Gas Senior Staff Associations of Nigeria, the Nigeria Electricity Consumer Advocacy Network, and civil society organisations, warned that the hike would worsen the plight of Nigerians.
What to read about naira and dollar:
CBN takes bold step to help Naira recover
Legit.ng earlier reported that the Central Bank of Nigeria (CBN) successfully sold N1.3 trillion worth of treasury bills at a very high rate, targeting foreign portfolio investors (FPIs).
This is part of CBN’s efforts to attract liquidity to strengthen the naira, which has been experiencing a free fall due to a shortage in forex supply.
Source: Legit.ng
