As Nigerians try to grasp what happened to their economy, here is a chart on the exchange rate of the Naira to notable currencies.

In less than 36yrs, the Naira went from One Naira to $1.50 to $1 = N355, in 2019.

Anyone vast in calculating currency exchanges will state unequivocally that with such loss and erosion of value, recovery is made harder.

Especially, when oil/gas is overwhelmingly the dominant source of revenue for nearly 189m hungry and angry Nigerians.

The entire Nigeria federal government 2019 budget is less than $36b. From this sum, the fragile 36 states and FCT, go cap in hand monthly for their allocation to fund their constitutional roles and that of appetite of discretionary spending. In Nigeria, the states do not send money to the center.

Credit: E E Okpa.

Lalasticlala, naijacutee, puskin, dominique, FOD

chei, how did we get this low

O God of creation, direct our noble course, guide our LEADERS right, help our YOUTHS the truth to know...