Impact of Naira Exchange Rate on Nigerian Passport Fees
The recent increase in Nigerian passport fees is primarily due to the fluctuating exchange rate between the naira and the US dollar.
According to Nigeria’s Minister of Interior, Olubunmi Tunji-Ojo, the cost of passport production, which involves imported materials priced in dollars, has risen significantly due to the weaker naira. As a result, passport fees were increased by approximately 45%.
For instance, the fee for a 32-page passport with a five-year validity rose from ₦35,000 to ₦50,000, while a 64-page booklet with a 10-year validity went from ₦70,000 to ₦100,000.
The Minister further explained that while many Nigerians are upset about the hike, the government cannot subsidize passport fees, especially considering the economic constraints