Nigeria Subsidizes Hajj Pilgrims With Preferred Dollar Rate

Updated on
  • Travel allowances at 197 naira/$ vs 319.25/$ interbank rate
  • Move met by criticism by some Nigerians as recession looms

Nigeria’s government will offer a concessionary exchange rate to more than 65,000 Muslim citizens intending to make the pilgrimage to Saudi Arabia this year, even as the country turns to borrowing to plug a budget gap.

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