I DEY PITY MY COUNTRY!!!
1$-194
Economic implication of this.
let me analyses some
last 3months dollar was sold for $1-160...but due to fall in oil price the Naira was weaken against the dollar. presently @ 15%
To cut long story short!

Expect inflation: price of goods and services will go up. for example i was at ikeja to get a small phone. the last time i check the price of the phone is 3500naira but i end up buying it for 4000 that is 25% increase.it will surely affect other product too even garri on a long run

Cost of production: will increase which will make some company to cut/reduce there production level.

Employment Rate will reduce: if production level is reduce employment level/rate will automatically reduce please don't ask me how simple logic. example: if it take 100 workers to produce 10000 items in a company. and the company decided to cut production level to 8000 due to cost of production. this mean they will only need 80 workers to carry out production 20 workers will be downsize. etc

so many more but this are the major once i can think of.

Thanks for the analysis my brother.
What is the SOLUTION or likely Management approach that the common man at d grass-root level can take because he seems to be most affected.
I don't want to call upon d govt because dat one na long thing.

To my own understand there is nothing individual/common man can do about this...everything still boil down to govt.

.

The crappiest is that no matter how much the price of crude climbs back in future, the xchange rate would remain where it is.