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Tinubu Targets N1,500/Dollar Exchange Rate In 2025 Budget

Published

2 years ago

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President Bola Tinubu announced on Wednesday that the Federal Government aims to stabilize the naira at N1,500 to the dollar as part of the 2025 budget goals.
This represents a reduction from the current rate of N1,700 per dollar.
Speaking during the presentation of the 2025 Appropriation Bill to the National Assembly, Tinubu also projected a decline in inflation from 34.6% to 15% by next year, alongside a crude oil production target of 2.06 million barrels per day.
In his speech, he highlighted strategies to achieve these targets, including:
  • Reducing petroleum imports and increasing refined product exports.
  • Improving agricultural output** through enhanced security to cut food imports.
  • Attracting foreign investments to boost foreign exchange inflows.
Tinubu expressed optimism that improved crude oil production and a reduction in upstream oil and gas costs would support these efforts, laying a foundation for economic recovery.

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