The trending words in Nigeria is currently the word recession. Economically Ressesion is attained when the country in question is lacking economic growth over some years. In Nigeria today the standard of living is very low and this makes fewer goods to pursue large amount of money(Inflation). Inflation is most atimes accompanied with inflation and high standard of living. Well the average Nigerian noticed these occurance at the tenure of the current president of Nigeria Pres. Muhammadu Buhari. But these economic disaster happened far back from the Good luck Jonathan's administration. The important question to be asked should be how can these disaster be fixed?
Due to lack of little productive activities going on in the country to counter the large amount of imports.in the country, the Nigerian economy seems to be in a state that I termed the marginalised state, in the sense that the production and the little activities in the country makes it difficult for the country to compete with the goods that comes into the country. That is to say, Less exports and high import makes the economy to suffer... Yes. Do you know that Nigeria is fighting corruption but the rate of corruption increases daily. For instance I happened to live in a riverine area in Lagos which is the boarder of Nigeria and Benin Republic. Everyday over 5000 bags of rice are smuggled into the country since this amount of rice is being imported how many of them to day produce in a day..."Not even enough to feed my family" so why are we complaining? The truth is the country can't close all boarders because of low level of technology in the country but the country can achieve this with just a single policy DEVALUATION. Yes, devaluation of the currency will make the currency more irrelevant in the world market that will create a very great risk to those that want to import. For instance if one bag of rice becomes #120,000, One hundred and twenty thousand Naira, with additional 35% tariff they will gladly look for jobs in the country.
Creating Jobs for the youths will come into place at these junction, unemployment ...
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bros it should be high cost of living which naija is currently experiecing not high standard of living as you stated!

high standard of living = high better quality of life.

If you can change the mindset of Nigerians 90% of the problem is solved.

No matter how you devalue, corruption will persist.

ThundrCork:
If you can change the mindset of Nigerians 90% of the problem is solved.

No matter how you devalue, corruption will persist.

no it should be change the mindset of those that have ran the country and those that are running the country.