Why LCCI Believes N1,400 FX Rate in 2025 Budget is Unattainable
The Lagos Chamber of Commerce and Industry (LCCI) has expressed concerns about the Federal Government’s projected N1,400 exchange rate to the dollar in the proposed 2025 budget.
Experts have described this assumption as overly optimistic and unrealistic, given current economic trends.
Persistent inflationary pressures, rising debt, and Nigeria’s limited foreign exchange inflows make this rate challenging to achieve.
Economists warn that such assumptions could lead to significant budget shortfalls and undermine fiscal stability.
They also criticized other projections in the budget, such as crude oil production at 2.06 million barrels per day and a $75 per barrel oil benchmark, as overly ambitious and potentially misaligned with global realities.