MODs - for fairness, you need to post this to FP as well. Nairaland should be a platform for informational and intelligent knowledge sharing and not just a PDP campaign platform/machinery.

There are clearly two records of primary market FX data available for the period under consideration:

1980: Official - N0.55/$ and Parallel - N0.90/$
1981: Official - N0.61/$
1982: Official - N0.673/$
1983: Official - N0.724/$
1984: Official - N0.765/$
1985: Official - N0.894/$ and Parallel - N1.70/$

The statistically meaningful thing to do is to interpolate between N0.90 and N1.70 to fill out the unreported data between 1981 and 1984. If this is done, the data looks like this:

1980: Official - N0.55/$ and Parallel - N0.90/$
1981: Official - N0.61/$ and Parallel - N1.04/$
1982: Official - N0.673/$ and Parallel - N1.186/$
1983: Official - N0.724/$ and Parallel - N1.304/$
1984: Official - N0.765/$ and Parallel - N1.399/$
1985: Official - N0.894/$ and Parallel - N1.70/$


2010: Official - N148/$ and Parallel - N155/$
Now:Official - N168/$ and Parallel - N193/$

Based on this, Naira lost value as follows:

Official Parallel
Buhari 23.48% 30.37%
Jonathan 13.51% 24.54%

Clearly, the Naira did not experience a 107% depreciation as the earlier thread had deceptively reported. Nigerians are not that gullible.

However, in Buhari's period in power, Nigeria earned a total of $69.92B (in 2014 $) with $41.95B accruing to the FG and states. In Jonathan's time, Nigeria has earned a total of $484.2B as at October (in 2014 $) with $290.5B of that accruing to the FG and states. These numbers were derived from monthly records of crude sales (from CBN's website which is a public) and a roughly 60% vs 40% split between Nigeria and the IOCs respectively.

Nigeria has never seen as much record earnings in its history as we have seen in Jonathan's time yet there is nothing to show for it. Slow people want us to compare Buhari's 20 months in office with $41B and Jonathan's 60 months in office with $290B. What did Jonathan do with Nigeria's $290B record earnings? Why is the ECA just at $2B when countries like Norway have saved up hundreds of Billions this same period? Why is the foreign reserve still at $30B? What happened to the Sovereign Wealth Fund (SWF)? Jonathan and his cronies have 'gang-banged' (whatever that means) the economy and have absolutely nothing to show for it.

Let me ask datolee.