Tinubu, Dangote Receive Accolades As Ex-Presidential Aide Reacts To Dollar To Naira Exchange Rate

A former Senior Special Assistant (SSA) on National Assembly Matters (Senate) to the immediate past President Muhammadu Buhari, Senator Babajide Omoworare, has praised President Bola Tinubu and his economic team for the latest dollar-to-naira exchange rate.

Reacting to the naira’s recent success and recognition as the most improved currency worldwide, Omoworare expressed optimism that the incumbent administration would continue implementing the current economic, fiscal, and monetary policies, including effectively addressing arbitrage in the currency market.

However, in a statement released on Thursday, Omoworare observed that despite the positive impact on the exchange rate, there has been no significant improvement in food inflation and fuel pump prices.

He said: “The Nigerian reality has put the much avowed logical law of gravity that ‘what goes up must come down’ on its head. This is a challenge and the responsibility of all Nigerians, from the traditional authorities to local, state and federal governments, to ensure a reduction in the cost of food commodities.

“NNPCL is already positioned as a global player; it should delve more into the downstream sector and open more retail outlets where possible in collaboration with the private sector so as to compete and occupy the free enterprise space.”

In addition, Omoworare praised the President of the Dangote Group, Alhaji Aliko Dangote, for his commendable action of reducing the price of diesel.

He also acknowledged the efforts of Governors Muhammed Bago and Chukwuma Soludo of Niger and Anambra states, respectively, for their dedicated work in promoting mechanised farming.

Furthermore, Omoworare commended Lagos State Governor Babajide Sanwo-Olu for his collaborative efforts with other state governments to provide food to the residents of Lagos.

He also commended the governor for introducing weekly “farmers’ markets” in the state as a measure to address food inflation.

Omoworare called upon other sub-national entities to follow the example set by these governors, emphasizing that agriculture and food security should not be overlooked as they are essential aspects that all should prioritize.