By Olamide Iwala

Public affairs analyst and social commentator, Elder Ayo Arogundade, has advocated for the use of the naira in fuel transactions to help stabilise Nigeria’s fuel market.

Speaking on a radio programme, The Crest Breakfast Show, themed “State of the Nation,” Arogundade emphasised the importance of conducting fuel transactions in naira rather than in US dollars.

He argued that excessive reliance on the dollar has weakened the naira and contributed to the rising prices of goods and services.

“The over-reliance on the dollar has weakened the naira, and when the naira is weak, the prices of goods go up,” he stated.

Arogundade added that policy inconsistency remains a major issue in Nigeria’s economy and suggested that transacting in naira would help make the economy more productive.