Nigeria, March 8 -- The House of Representatives is moving to review the parameters of the 2024 budget due to the depreciation of the Naira against major currencies.

The House, on Thursday, mandated its Committees on National Planning and Economic Development, Appropriation and Finance, to review the parameters in the budget, particularly the exchange rate.

This resolution followed a motion of urgent public importance moved by Kafilat Ogbara (APC, Lagos) during plenary.

The naira was on a free fall for months following the decision of the monetary authorities to float the currency. However, it has rallied recently due to some measures taken by the Central Bank of Nigeria.

Despite the halt in the slide, the value of the naira is far fr...