There are internal and external factors that determine the strength of currencies around the globe. With the current drop in oil prices, Naira - amongst other currencies - is not holding strong against US Dollars.

So, how does the currency of major oil-producing countries hold up against the mighty US Dollar? Let's look at the past year, between Jan 21, 2014 and Jan 22, 2015.

Russian Ruble
Approx. 93% increase from 33.97/1USD to 65.52RUB (partly due to sanctions and oil price drop)

Canadian Dollars
Approx. 13.7% increase from 1.09/1USD to 1.24CAD

Saudi Arabian Riyal
RIY didn't budge much against USD, remaining relatively steady at around 3.75RIY

United Arab Emirates Dirham
AED to USD didn't budge either. 1USD remains approx. 3.673AED

Chinese Yuan
Approx. 2.62% increase from 6.051/1USD to 6.21CNY

Brazil Real
Approx. 10.1% increase from 2.36/1USD to 2.60BRL

Mexican Peso
Approx. 11.3% increase from 13.28/1USD to 14.78MXN

Kuwait Dinar
Approx. 4.2% increase from 0.283/1USD to 0.295KWD

Nigerian Naira
Approx. 19.86% increase 159.39/1USD to 191.05NGN (partly due to elections and oil price drop)

People thought Naira would trade above 200/1USD by end of 2014; it's yet to. The political climate after elections will greatly determine its fate. My people, vote wisely and peacefully!

Our unwise dependency on oil is finally coming back to hurt us, so Nigeria produces more oil than UAE and Saudi Arabia that didn't budge abi?

Its simple logic, even though they produce more oil than we do, they don't overly depend on it.
Diversfy, NO!!! We always think oil will last forever

#Voteforchange
#votebuhari