Here are the Naira Devaluation Rates at the Parallel Markets under different Presidents since 1999:

Olusegun Obasanjo
1999 ₦90 = $1
2007 ₦125 = $1
38 Percent Devaluation in 8 Years

Umaru Musa YarAdua
2007 ₦125 = $1
2010 ₦150 = $1
20 Percent Devaluation in 3 Years

Goodluck Jonathan
2010 ₦150 = $1
2015 ₦220 = $1
46 Percent Devaluation in 5 Years

Muhammadu Buhari
2015 ₦220 = $1
2023 ₦740 = $1
236 Percent Devaluation in 8 Years

Bola Tinubu
2023 ₦740 = $1
2024 ₦1,200 = $1
98 Percent Devaluation in 8 months

Yar'Adua performed best because he was President during the global economic crisis of 2008.

Buhari is more than 300% devaluation. Check it out 220 to 740! It's about 336% devaluation. APC as a party is a curse to Nigerians!

abhosts:
Here are the Naira Devaluation Rates at the Parallel Markets under different Presidents since 1999:

Olusegun Obasanjo
1999 ₦90 = $1
2007 ₦125 = $1
38 Percent Devaluation in 8 Years

Umaru Musa YarAdua
2007 ₦125 = $1
2010 ₦150 = $1
20 Percent Devaluation in 3 Years

Goodluck Jonathan
2010 ₦150 = $1
2015 ₦220 = $1
46 Percent Devaluation in 5 Years

Muhammadu Buhari
2015 ₦220 = $1
2023 ₦740 = $1
236 Percent Devaluation in 8 Years

Bola Tinubu
2023 ₦740 = $1
2023 ₦1,200 = $1
62 Percent Devaluation in 5 months

Yar'Adua performed best because he was President during the global economic crisis of 2008.

Yaradua didn't perform best. It was because of how much we had in our foreign reserves by the time Obasanjo left.

Nigeria didn't feel a drop of the global financial crises of 2008 due to Obasanjo shoring up our foreign reserves before he left. We didn't even have a feel of what was happening in the west.

We were having a blast as a country until these swines came in and took us 2000 steps backwards

happney65:


Yaradua didn't perform best. It was because of how much we had in our foreign reserves by the time Obasanjo left.

Nigeria didn't feel a drop of the global financial crises of 2008 due to Obasanjo shoring up our foreign reserves before he left. We didn't even have a feel of what was happening in the west.

We were having a blast as a country until these swines came in and took us 2000 steps backwards

It baffles me how Obasanjo was able to clear Nigeria's debt and save so much in foreign reserves with relatively low oil prices.

abhosts:


It baffles me how Obasanjo was able to clear Nigeria's debt and save so much in foreign reserves with relatively low oil prices.

Honest thoughts, Obasanjo’s third term actualisation would have been a great blessing to Nigeria.

Obasanjo’s third term ambition was a selfish interest,
The politicians canvassing and supporting Obasanjo’s ambition was borne out of their selfish gain
The politicians that opposed it was due to their selfish pursuit.

In all, Nigerians progress was tied to the selfish interests above and it is now evident that if Obasanjo’s selfish interest prevailed, Nigeria would fair better

abhosts:


It baffles me how Obasanjo was able to clear Nigeria's debt and save so much in foreign reserves with relatively low oil prices.

Because he had sense. Great sense. See his cabinet members naa. Who knew Okonjo from anywhere until Obasanjo took her and they both traveled the world,first asking for debt relief. When the Paris club saw how serious they were,they gave us debt relief and he started the true work of the economy.

Like you said,it was also a period of low oil prices o. As in it was low oil prices all throughout. It was GEJ that enjoyed high oil prices the most. Yet OBJ didn't use low oil prices as excuses mehn

Great Guy! Iyalaya anybody

happney65:


Yaradua didn't perform best. It was because of how much we had in our foreign reserves by the time Obasanjo left.

Nigeria didn't feel a drop of the global financial crises of 2008 due to Obasanjo shoring up our foreign reserves before he left. We didn't even have a feel of what was happening in the west.

We were having a blast as a country until these swines came in and took us 2000 steps backwards

Yaradua could have had it worst if he had 8years like Obasanjo instead of the 3years he had

Amotolongbo:
Yaradua could have had it worst if he had 8years like Obasanjo instead of the 3years he had

Yes, Because he was a socialist. The mistake obasanjo made was not finding a worthy successor. Guess he thought his 3rd term agenda would succeed.

Obasanjo just wanted a Man who wasn't a thief and Yaradua wasn't truly. He was just a simple Man that wanted to return to his lecturing job.

But Obasanjo's shoes were too big for Yaradua to fit in. His reversal of the sale of our moribund refineries was when I knew he couldn't do much

happney65:


Yaradua didn't perform best. It was because of how much we had in our foreign reserves by the time Obasanjo left.

Nigeria didn't feel a drop of the global financial crises of 2008 due to Obasanjo shoring up our foreign reserves before he left. We didn't even have a feel of what was happening in the west.

We were having a blast as a country until these swines came in and took us 2000 steps backwards

Yaradua also benefited from sky high oil prices, as high as 145 per barrel that year.

The high oil price was a driver of the global financial crisis

abhosts:


It baffles me how Obasanjo was able to clear Nigeria's debt and save so much in foreign reserves with relatively low oil prices.

Obasanjo's debt clearance was part of a deal that the World Bank and IMF has with several African countries that year

Several African countries eg Niger got their debt cleared 100%. Nigeria got 67% cleared, with the rest paid by the government.

abhosts:
Here are the Naira Devaluation Rates at the Parallel Markets under different Presidents since 1999:

Olusegun Obasanjo
1999 ₦90 = $1
2007 ₦125 = $1
38 Percent Devaluation in 8 Years

Umaru Musa YarAdua
2007 ₦125 = $1
2010 ₦150 = $1
20 Percent Devaluation in 3 Years

Goodluck Jonathan
2010 ₦150 = $1
2015 ₦220 = $1
46 Percent Devaluation in 5 Years

Muhammadu Buhari
2015 ₦220 = $1
2023 ₦740 = $1
236 Percent Devaluation in 8 Years

Bola Tinubu
2023 ₦740 = $1
2023 ₦1,200 = $1
62 Percent Devaluation in 5 months

Yar'Adua performed best because he was President during the global economic crisis of 2008.

Just also shows how much our dollars needs have gone up and also how much was spent defending the naira

Also shows how APC has failed. No diversification and excess spending on subsides, waste and corruption, poor revenue from taxes and falling oil prices from 2014 April meant there wasn't enough dollar left to defending naira.

At the end we get a strong currency by running a diversified industrial economy

Moral of the story, APC is cankerworm that should never have happened

APC is a plague that befall Nigeria since 2015

Av

accordadoga36:
Hehehehe

Make we help some people

2024: $1= N3,500

Av

Frankly speaking APC was sent by the Devil to destroy Nigeria, and they are doing the job better than expected.

abhosts:
Here are the Naira Devaluation Rates at the Parallel Markets under different Presidents since 1999:

Olusegun Obasanjo
1999 ₦90 = $1
2007 ₦125 = $1
38 Percent Devaluation in 8 Years

Umaru Musa YarAdua
2007 ₦125 = $1
2010 ₦150 = $1
20 Percent Devaluation in 3 Years

Goodluck Jonathan
2010 ₦150 = $1
2015 ₦220 = $1
46 Percent Devaluation in 5 Years

Muhammadu Buhari
2015 ₦220 = $1
2023 ₦740 = $1
236 Percent Devaluation in 8 Years

Bola Tinubu
2023 ₦740 = $1
2023 ₦1,200 = $1
62 Percent Devaluation in 5 months

Yar'Adua performed best because he was President during the global economic crisis of 2008.

So pdp met naira at 90 naira to 1$°
But all dis Jonathan government was paradise people so naira deprecated in the best economy.. Na wa oo for best economy ooo... This simply show Nigeria hast been on a steady decline since 1999

APC really destroyed Nigeria...

happney65:


Because he had sense. Great sense. See his cabinet members naa. Who knew Okonjo from anywhere until Obasanjo took her and they both traveled the world,first asking for debt relief. When the Paris club saw how serious they were,they gave us debt relief and he started the true work of the economy.

Like you said,it was also a period of low oil prices o. As in it was low oil prices all throughout. It was GEJ that enjoyed high oil prices the most. Yet OBJ didn't use low oil prices as excuses mehn

Great Guy! Iyalaya anybody

It was Atiku that discovered Ngozi and recommended her to Obj. Some of the key economic team of Obj were Atiku's recommendations because he was the Politician who has networked and traveled. Obj was just a soldier.

Give credit to whom it is due
Atiku will never get the chance to rule this country due to his alleged corrupt nature but let's give him credit for his work.

Obj no know Ngozi from Adam

Yes

But Is it possible for the Naira to go back to say N350 to a $1?

This devaluation is too much

Think9ja:
But Is it possible for the Naira to go back to say N350 to a $1?

This devaluation is too much

₦350 is not feasible. ₦800-900 is more realistic.

abhosts:


₦350 is not feasible. ₦800-900 is more realistic.

I don't mean now
I mean in the future, like say five years