Medinah (Saudi Arabia) – Many Nigerian
pilgrims currently in Saudi Arabia for this
year’s pilgrimage say they have cut down on
their spending following the fall in the value of
the Naira.
A correspondent of the News Agency of
Nigeria (NAN) reports that a number of the
pilgrims interviewed in Medinah said they have
restricted their spending to only the basics.
They said they now spend only on feeding and
commuting within the city.
Some said they had prepared for this situation
by bringing along items such as toothpaste,
soap and cream, among others, to save cost.
They said while there was no significant
increase in the prices of many items in the
shops, they still found them very expensive in
comparison to their cost in Naira.
“I have cut down on my expenses and I am
avoiding the purchase of those gift items
which I can find back home.
“This is because when I converted the prices
to our Naira, I found out that it will be cheaper
to buy such items back home,” a pilgrim from
Katsina who preferred to stay anonymous
said.
“I only buy items such as food, because
feeding is essential,” another pilgrim, Ali
Adamu, said.
Many of the pilgrims have been patronising
local food vendors who are mostly Nigerians
resident in Saudi Arabia.
These food vendors have become more
popular because their charges are much less
than those of the restaurants and other
eateries run by the locals.
Similarly, It was observed that other nationals,
especially Africans, also patronise these Saudi
Arabia-based Nigerian food vendors.
Also banks and bureaux de change do not
accept the Naira currency however, it can be
changed at the ATMs.
A pilgrim who used the facility said the Naira
changed for N102 to one Saudi Riyal.
A Nigerian, who exchanges the Naira for the
Riyal, said that he changed one Riyal at N125.
The Nigerian, who declined to give his name
but only said he is from Borno, said during
2015 hajj the N66 exchanged for one Riyal.
“We do not like what is happening to our
currency. Even the Saudis are not happy,” he
said.
He, however, added that the situation was not
limited to the Nigerian currency as currencies
of other countries such as Iran, Sudan and
Ghana are experiencing similar fall in value.
pilgrims currently in Saudi Arabia for this
year’s pilgrimage say they have cut down on
their spending following the fall in the value of
the Naira.
A correspondent of the News Agency of
Nigeria (NAN) reports that a number of the
pilgrims interviewed in Medinah said they have
restricted their spending to only the basics.
They said they now spend only on feeding and
commuting within the city.
Some said they had prepared for this situation
by bringing along items such as toothpaste,
soap and cream, among others, to save cost.
They said while there was no significant
increase in the prices of many items in the
shops, they still found them very expensive in
comparison to their cost in Naira.
“I have cut down on my expenses and I am
avoiding the purchase of those gift items
which I can find back home.
“This is because when I converted the prices
to our Naira, I found out that it will be cheaper
to buy such items back home,” a pilgrim from
Katsina who preferred to stay anonymous
said.
“I only buy items such as food, because
feeding is essential,” another pilgrim, Ali
Adamu, said.
Many of the pilgrims have been patronising
local food vendors who are mostly Nigerians
resident in Saudi Arabia.
These food vendors have become more
popular because their charges are much less
than those of the restaurants and other
eateries run by the locals.
Similarly, It was observed that other nationals,
especially Africans, also patronise these Saudi
Arabia-based Nigerian food vendors.
Also banks and bureaux de change do not
accept the Naira currency however, it can be
changed at the ATMs.
A pilgrim who used the facility said the Naira
changed for N102 to one Saudi Riyal.
A Nigerian, who exchanges the Naira for the
Riyal, said that he changed one Riyal at N125.
The Nigerian, who declined to give his name
but only said he is from Borno, said during
2015 hajj the N66 exchanged for one Riyal.
“We do not like what is happening to our
currency. Even the Saudis are not happy,” he
said.
He, however, added that the situation was not
limited to the Nigerian currency as currencies
of other countries such as Iran, Sudan and
Ghana are experiencing similar fall in value.
Comments