The Independent Hajj Reporters (IHR), a Civil Society Organisation (CSO), has asked the federal government to approve a fixed dollar exchange rate for 2025 hajj transactions.
In a statement signed by Ibrahim Muhammad, its national coordinator, on Sunday, IHR said pilgrims face numerous challenges due to frequent fluctuations in the exchange rate.
“Eighty percent of Hajj transactions are dollar-based, meaning that the pilgrims will pay their Hajj fare in naira and thereafter it will be converted to the dollar at the official exchange rate by the Central Bank of Nigeria (CBN) before being transferred to Saudi-based service providers for Hajj services,” IHR said.
“The frequent fluctuation of the exchange rate and the unpredictable nature of forex trading has made it difficult to tabulate the Hajj fare as at when desirable for pilgrims to be able to know the exact price of 2025 Hajj packages.”
Advertisement
The statement added that the lack of a fixed dollar rate during the 2024 Hajj reduced pilgrims’ basic travel allowance from $500 to $400.
It added that the National Hajj Commission of Nigeria (NAHCON) will face challenges in calculating hajj fares or dollar-based services for the 2025 hajj without a fixed exchange rate.
The CSO called for a stable and predictable approach to ensure fairness and transparency for Nigerian pilgrims.
Advertisement
“It must be understood that service providers who may be paid in naira will have to take their naira to the bank for conversion to the dollar before paying for their services in their country. Such transactions should be based on a specific forex rate,” IHR added.
“Given the current financial difficulties and the high rise in the cost of Hajj fare, we once again appeal to the federal government to peg the dollar to a fixed rate for Hajj 2025 transactions.”
Add a comment
