The National Hajj Commission of Nigeria (NAHCON) has increased the fare for the 2024 hajj exercise amidst the recent plunge in the value of Naira against the US dollar.
The commission initially announced N4.5 million as the fare for the 2024 Hajj but the fee has now been increased to N4.6 million for northern pilgrims and N4.8 million for pilgrims from the south.
This latest adjustment was announced in a statement on Saturday by NAHCON’s Assistant Director of Public Affairs, Fatima Usara.
Mrs Usara said the naira crash compelled a necessary adjustment, as the commission was forced to review the fee.
She said the prospect of maintaining the N4.5 million rate was high until the “well-known Naira crash that occurred mid-week”.
“Intending pilgrims from Nigeria’s Southern centre are required to pay N4,899,000 as Hajj fare; those from the Northern centre will pay N4,699,000, for the Hajj and pilgrims from Yola and Maiduguri centre will pay a fee of N4,679,000 for the 2024 Hajj,” NAHCON stated in the statement.
The commission urged those who have paid to balance up ahead of the 25 February deadline.
“Intending pilgrims are therefore advised to balance their Hajj fare by Monday 12th of February accordingly to enable the Commission to transfer the funds before the imminent deadline,” the statement reads in part.
NAHCON stated that the fare could have been as much as N6 million if not for the recent negotiation with service providers in Saudi Arabia.
The free fall of Naira
The naira slipped to an all-time low against the United States dollar across forex markets during the week. According to data published by FMDQ, naira closed Tuesday at N1,482.57 per $1 at the official market.
By Wednesday, the currency crossed the N1,500 and above mark at the parallel market on Wednesday raising concerns over the effectiveness of the CBN’s policy intervention.
Amidst this disturbing trend, the CBN in a new circular issued Wednesday ordered Deposit Money Banks to sell their excess dollar stock by 1 February.
Also, Bureau De Change (BDC) operators in Abuja shut down operations as part of desperate measures to save the naira from free fall.
Support PREMIUM TIMES’ journalism of integrity and credibility
Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.
For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.
By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.
Donate
TEXT AD: Call Willie – +2348098788999
