The House of Representatives has rejected a motion urging the Federal Government to make necessary interventions towards stabilising the Naira.
POLITICS NIGERIA reports that the motion was raised by Honourable Beni Lar, who expressed concerns about the impact of the unified exchange rates on Nigerian students studying abroad.
She noted that the devaluation of the Naira has led to a drastic increase in tuition fees, and that some students have seen their fees increase by over 60%.
Lar also warned that the current economic situation could trigger an inflationary spiral, which could plunge Nigeria into an economic recession.
The motion sparked a heated debate among the lawmakers, with some supporting the call for intervention in the currency situation and others arguing that it was premature to hold the Tinubu administration responsible for the exchange rate.
In the end, the deputy speaker ruled in favour of the opposing side, effectively rejecting the motion.
