According to research, the value of Naira has devalued by more than 25% in the last few years. Yesterday, the exchange rate of Naira to pound was 304. Today, one Pound to Naira is N311 while a Dollar to Naira is N204. It devalued by 2.5%. On the other hand, Venezuela's currency even though they were more affected by the fall in oil prices only devalued by 9%. They were able to put economic policies in place to reduce the rate of the devaluation in the same time period and reduce the impact of the reduction in oil prices.This is just within the time frame of 5 years (2011-2015).



An economist predicted that "At this rate of devaluation, our currency could end up like the Zimbabwe Dollars and become worthless within the next few years if necessary economic policies are not put in place."

Can the reduction in demand of oil and the fall in oil prices be used as an excuse for what's going on?

Source: www.sleaksblog.com/naira-flames-c…es-fuel-tanker

The rate at which our currency is burning is so alarming.

perry2020:
The rate at which our currency is burning is so alarming.

abi nau...this Government is Whaack!!

Some clueless people will say gejtill2019

A good time to start earning dollars and pounds.