Dollar may equal N500 in the next 60 days — Melaye
Kogi West Senator, Dino Melaye, has picked holes in the 2019 budget of the federal government saying the dollar may soon trade at N500 if the right measures are not emplaced.
The lawmaker said the budget is one Nigerians should be ‘sorry about’ as it does not bear any plan for the poor.“We have to look at the state of the economy and provisions of the budget there in. Federal Government spent $41 billion to cushion and stabilise the naira. How long can we continue to live in sin and grace continue to abound?
“There is a drop in Internally Generated Revenue and the revenue of customs. Federal government has no money to subsidise fuel. In the midst of this calamitous situation, how do we now finance the 2019 budget? Are we going to fund the budget based on daily contribution? Are we going borrow again? These are questions begging for answer.
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