By Tobias Lengnan Dapam
The Chairman, CEO of National Hajj Commission of Nigeria (NAHCON), Mall. Jalal Arabi, has explained how the commission spent the 90 billion naira intervention by President Bola Tinubu for the 2024 Hajj exercise.
It would be recalled that the President approved 90 billion naira to meet up with the financial challenges of the pilgrims.
Speaking on Monday during talks world press conference, NAHCON boss said the commission ensured effective utilization of the money.
On how the commission got the intervention, he said high rate of foreign exchange compelled the commission to approach the federal government for assistance to approve a concessionary exchange rate of N850/$1 for intending pilgrims.
He added that the president approved a N90 billion intervention to help pilgrims enjoy a stress free hajj exercise.
“By the final deadline of February 12, 2024, the unforeseen spike in foreign exchange rates had totally complicated matters, necessitating fresh adjustment of the year’s Hajj fare from.the initial N4.9 million.
“The financial projection after the foreign currency liberalisation was that each pilgrim would have to top up about N3.6 million in addition to the initial payment.
“The situation impelled urgent intervention. Recognising the gravity of the situation, NAHCON promptly engaged with the Federal Government to mitigate the effects of the high cost of foreign currency with an appeal for government to approve a concessionary rate of N850 as exchange rate for the Dollar component of the Hajj fare.
“We are grateful to President Bola Tinubu for his swift approval of N90 billion instead.
“How to spread this N90 billion equitably, to such a degree that registered pilgrims would not have to pay additionally to the N4.9 million was tough.
“NAHCON then decided a distribution strategy which played a crucial role in ensuring that all stakeholders associated with the 2024 Hajj benefitted from the financial stability through this federal government support.
“Each pilgrim was supported with N1.637 million from the N90 billion except for pilgrims under the Hajj Savings Scheme who enjoyed more.”
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