Naira To Dollar Exchange Rate History (1972-2022) - Politics

Naira To Dollar Exchange Rate History (1972-2022) - Politics - Nairaland

Nairaland Forum › Nairaland General › Politics › Naira To Dollar Exchange Rate History (1972-2022) (82683 Views)

Naira To Dollar Exchange Rate History (1972-2022) by Nobody: 6:25pm On Jun 04, 2022

Find Below Naira to Dollar Exchange Rate History

1972 $1 = N0.658
1973 $1 = N0.658
1974 $1 = N0.63
1975 $1 = N0.616
1976 $1 = N0.62
1977 $1 = N0.647
1978 $1 = N0.606
1979 $1 = N0.596
1980 $1 = N0.550 (0.900 Black Market Rate)
1981 $1 = N0.61
1982 $1 = N0.673
1983 $1 = N0.724
1984 $1 = N0.765
1985 $1 = N0.894 (N1.70 Black Market Rate)
1986 $1 = N2.02 (N3.90 Black Market Rate)
1987 $1 = N4.02 (N5.90 Black Market Rate)
1988 $1 = N4.54 (N6.70 Black Market Rate)
1989 $1 = N7.39 (N10.70 Black Market Rate)
1990 $1 = N7.39 (N10.70 Black Market Rate)
1991 $1 = N8.04 (N9.30 Black Market Rate)
1992 $1 = N9.91
1993 $1 = N17.30 (N21.90 Black Market Rate)
1994 $1 = N22.33 (N56.80 Black Market Rate)
1995 $1 = N21.89 (N71.70 Black Market Rate)
1996 $1 = N21.89 (N84.58 Black Market Rate)
1997 $1 = N21.89 (N84.58 Black Market Rate)
1998 $1 = N21.89 (N84.70 Black Market Rate)
1999 $1 = N21.89 (N88-N90 Black Market Rate)
2000 $1 = N85.98 (N105.00 Black Market Rate)
2001 $1 = N99-N106 (N104-N122 Black Market Rate)
2002 $1 = N109-N113 (N122-N140 Black Market Rate)
2003 $1 = N114-N127 (N135-N137 Black Market Rate)
2004 $1 = N127-N130 (N137-N144 Black Market Rate)
2005 $1 = N132-N136
2006 $1 = N128.50-N131.80
2007 $1 = N120-N125
2008 $1 = N115.50-N120
2009 $1 = N145-N171
2010 $1 = N148.21-N154.8
2011 $1 = N151.05-N165.1
2012 $1 = N155.09-N161.5
2013 $1 = N153.21-N162.9
2014 $1 = N170-N199
2015 $1 = N199-N300
2016 $1 = N300-N320 (N310-N370 Black Market Rate)
2017 $1 = N360
2022. Now. = Official = N419. Oops.
Unofficial = N610

What happened between 1999 and 2000?

There was no economic crisis to the best of my knowledge.

SOURCE: FACEBOOK POST

10 Likes 4 Shares

Re: Naira To Dollar Exchange Rate History (1972-2022) by Abujaexpress: 6:29pm On Jun 04, 2022

Why can't they tame Naira depreciation?

Re: Naira To Dollar Exchange Rate History (1972-2022) by Nobody: 6:35pm On Jun 04, 2022

i have up to 30btc but cant see it due to low rate of dolla (spammers in the house will understand)

Re: Naira To Dollar Exchange Rate History (1972-2022) by oz4real83(m): 6:41pm On Jun 04, 2022

That is why I keep saying that PDP has no justification to insult or criticise APC because both of them are the same killers of the economy. PDP met the currency at N90 in the black market in 1999 and left it at N300 in 2015 when they left power. APC met it at N300 in 2015 according to the post and has murdered the currency to over N612 in 2022 and they are still unrelenting and the murdering keeps growing embarassed

. The same group of people changing parties but with their evil personalities still remaining embarassed

5 Likes

Re: Naira To Dollar Exchange Rate History (1972-2022) by BolaEmilia(f): 6:43pm On Jun 04, 2022

Omo.

Plotting this graphically would be more informative.

Thanks for the data anyways.

Imagine naira is officially 419 (SCAM).

2 Likes

Re: Naira To Dollar Exchange Rate History (1972-2022) by Larrysung(m): 6:57pm On Jun 04, 2022

1985-87, 2015-22... If you know, you know!

1 Like

Re: Naira To Dollar Exchange Rate History (1972-2022) by Nobody: 7:13pm On Jun 04, 2022

Buhari met naira sleeping stylishly on dollar in 2015 and immediately gave it a flight ticket to oblivion,imagine Naira competing with Malawi Pasco and ugadan shillings for the most useless currency in the world,who would have thought that Buhari was capable of pulling such a miracle in less than 7 years

3 Likes

Re: Naira To Dollar Exchange Rate History (1972-2022) by mightyhaze: 7:17pm On Jun 04, 2022

199 to 612

That's more than a geometric progression..

Re: Naira To Dollar Exchange Rate History (1972-2022) by WATCHOVER(m): 7:56pm On Jun 04, 2022

oz4real83:
That is why I keep saying that PDP has no justification to insult or criticise APC because both of them are the same killers of the economy. PDP met the currency at N90 in the black market in 1999 and left it at N300 in 2015 when they left power. APC met it at N300 in 2015 according to the post and has murdered the currency to over N612 in 2022 and they are still unrelenting and the murdering keeps growing . The same group of people changing parties but with their evil personalities still remaining

civilian govt of the SECOND REPUBLIC and MILITARY should be in the best position to answer that question.
Lastly the REBUILDING of FCT ABUJA was a total waste of fund that further led to the collapse of the naira

Re: Naira To Dollar Exchange Rate History (1972-2022) by Lovelive: 9:57pm On Jun 04, 2022

I am not PDP man but I strongly think they have justification ...

Buhari had promised us many things included this very one issue.

So stop defending the failure called Mo. Buhari

oz4real83:
That is why I keep saying that PDP has no justification to insult or criticise APC because both of them are the same killers of the economy. PDP met the currency at N90 in the black market in 1999 and left it at N300 in 2015 when they left power. APC met it at N300 in 2015 according to the post and has murdered the currency to over N612 in 2022 and they are still unrelenting and the murdering keeps growing . The same group of people changing parties but with their evil personalities still remaining

Re: Naira To Dollar Exchange Rate History (1972-2022) by Chekitaut: 5:03pm On May 13, 2024

Alphagan:
Find Below Naira to Dollar Exchange Rate History

1972 $1 = N0.658
1973 $1 = N0.658
1974 $1 = N0.63
1975 $1 = N0.616
1976 $1 = N0.62
1977 $1 = N0.647
1978 $1 = N0.606
1979 $1 = N0.596
1980 $1 = N0.550 (0.900 Black Market Rate)
1981 $1 = N0.61
1982 $1 = N0.673
1983 $1 = N0.724
1984 $1 = N0.765
1985 $1 = N0.894 (N1.70 Black Market Rate)
1986 $1 = N2.02 (N3.90 Black Market Rate)
1987 $1 = N4.02 (N5.90 Black Market Rate)
1988 $1 = N4.54 (N6.70 Black Market Rate)
1989 $1 = N7.39 (N10.70 Black Market Rate)
1990 $1 = N7.39 (N10.70 Black Market Rate)
1991 $1 = N8.04 (N9.30 Black Market Rate)
1992 $1 = N9.91
1993 $1 = N17.30 (N21.90 Black Market Rate)
1994 $1 = N22.33 (N56.80 Black Market Rate)
1995 $1 = N21.89 (N71.70 Black Market Rate)
1996 $1 = N21.89 (N84.58 Black Market Rate)
1997 $1 = N21.89 (N84.58 Black Market Rate)
1998 $1 = N21.89 (N84.70 Black Market Rate)
1999 $1 = N21.89 (N88-N90 Black Market Rate)
2000 $1 = N85.98 (N105.00 Black Market Rate)
2001 $1 = N99-N106 (N104-N122 Black Market Rate)
2002 $1 = N109-N113 (N122-N140 Black Market Rate)
2003 $1 = N114-N127 (N135-N137 Black Market Rate)
2004 $1 = N127-N130 (N137-N144 Black Market Rate)
2005 $1 = N132-N136
2006 $1 = N128.50-N131.80
2007 $1 = N120-N125
2008 $1 = N115.50-N120
2009 $1 = N145-N171
2010 $1 = N148.21-N154.8
2011 $1 = N151.05-N165.1
2012 $1 = N155.09-N161.5
2013 $1 = N153.21-N162.9
2014 $1 = N170-N199
2015 $1 = N199-N300
2016 $1 = N300-N320 (N310-N370 Black Market Rate)
2017 $1 = N360
2022. Now. = Official = N419. Oops.
Unofficial = N610

What happened between 1999 and 2000?

There was no economic crisis to the best of my knowledge.

SOURCE: FACEBOOK POST

From 1999 immediately PRIVATISATION started with Obasanjo we lost it all... Politicians are the players in the private sectors. Introduction of higher domination currency allow corrupt to go higher day in day out.

Only a communist economy theory will save Nigeria.

2 Likes

Re: Naira To Dollar Exchange Rate History (1972-2022) by Iamanoited: 6:29pm On May 13, 2024

Alphagan:
Find Below Naira to Dollar Exchange Rate History

1972 $1 = N0.658
1973 $1 = N0.658
1974 $1 = N0.63
1975 $1 = N0.616
1976 $1 = N0.62
1977 $1 = N0.647
1978 $1 = N0.606
1979 $1 = N0.596
1980 $1 = N0.550 (0.900 Black Market Rate)
1981 $1 = N0.61
1982 $1 = N0.673
1983 $1 = N0.724
1984 $1 = N0.765
1985 $1 = N0.894 (N1.70 Black Market Rate)
1986 $1 = N2.02 (N3.90 Black Market Rate)
1987 $1 = N4.02 (N5.90 Black Market Rate)
1988 $1 = N4.54 (N6.70 Black Market Rate)
1989 $1 = N7.39 (N10.70 Black Market Rate)
1990 $1 = N7.39 (N10.70 Black Market Rate)
1991 $1 = N8.04 (N9.30 Black Market Rate)
1992 $1 = N9.91
1993 $1 = N17.30 (N21.90 Black Market Rate)
1994 $1 = N22.33 (N56.80 Black Market Rate)
1995 $1 = N21.89 (N71.70 Black Market Rate)
1996 $1 = N21.89 (N84.58 Black Market Rate)
1997 $1 = N21.89 (N84.58 Black Market Rate)
1998 $1 = N21.89 (N84.70 Black Market Rate)
1999 $1 = N21.89 (N88-N90 Black Market Rate)
2000 $1 = N85.98 (N105.00 Black Market Rate)
2001 $1 = N99-N106 (N104-N122 Black Market Rate)
2002 $1 = N109-N113 (N122-N140 Black Market Rate)
2003 $1 = N114-N127 (N135-N137 Black Market Rate)
2004 $1 = N127-N130 (N137-N144 Black Market Rate)
2005 $1 = N132-N136
2006 $1 = N128.50-N131.80
2007 $1 = N120-N125
2008 $1 = N115.50-N120
2009 $1 = N145-N171
2010 $1 = N148.21-N154.8
2011 $1 = N151.05-N165.1
2012 $1 = N155.09-N161.5
2013 $1 = N153.21-N162.9
2014 $1 = N170-N199
2015 $1 = N199-N300
2016 $1 = N300-N320 (N310-N370 Black Market Rate)
2017 $1 = N360
2022. Now. = Official = N419. Oops.
Unofficial = N610

What happened between 1999 and 2000?

There was no economic crisis to the best of my knowledge.

SOURCE: FACEBOOK POST

Orisa37

Re: Naira To Dollar Exchange Rate History (1972-2022) by kgr8mike(m): 6:41pm On Aug 18, 2024

We need the different finance ministers of the different regims to give us some explanation

Re: Naira To Dollar Exchange Rate History (1972-2022) by kk2027: 8:46pm On Aug 18, 2024

'Lagos builder' has truly continued from where Buhari stopped cheesy

$1 now = 1600 cheesy

GWO GWO GWO

4 Likes 2 Shares

Re: Naira To Dollar Exchange Rate History (1972-2022) by Greenback: 8:31pm On Feb 09, 2025

kk2027:
'Lagos builder' has truly continued from where Buhari stopped

$1 now = 1600

GWO GWO GWO

😁😁😁😁😁😁😁

Re: Naira To Dollar Exchange Rate History (1972-2022) by Ikemba007: 3:11pm On Apr 25, 2025

Abujaexpress:
Why can't they tame Naira depreciation?

Currency is like every other commodity; the demand for it determines its value. Outside and inside Nigeria, most want to offload the naira. So, until naira becomes safe to keep.

Re: Naira To Dollar Exchange Rate History (1972-2022) by DomPerignon: 3:49pm On Apr 25, 2025

There was hardly any demand for imported consumable goods.

We even had our own car manufacturing base that supplied all the cars on the roads. Even car tyres were produced locally 100%.

The problem is globalization and demand for cheap imported crap.

Until we begin to understand that an import based economy only serves to drain our resources leading to capital flight and lack of manufacturing jobs that leads to further unemployment, we will continue servicing other countries economies and their employment base through imports.

1 Like 1 Share

Re: Naira To Dollar Exchange Rate History (1972-2022) by DomPerignon: 3:58pm On Apr 25, 2025

Chekitaut:
From 1999 immediately PRIVATISATION started with Obasanjo we lost it all... Politicians are the players in the private sectors. Introduction of higher domination currency allow corrupt to go higher day in day out.

Only a communist economy theory will save Nigeria.

Obasanjo's privatization was flawed in every way. Rather than unbundle the decaying government corporations back into the hands of Nigerian businesses, Obasanjo sold them to western companies that are only interested in serving their share holders.

If the privatization under Obasanjo had limited the sales of government owned corporations or licensing of their services (Nitel, NEPA, etc) to local businesses we won't be in this mess.

MTN which has replaced Nitel repatriates huge amount of wealth annually back to SA. To do this MTN will source for FX using the revenue in naira they generated.

It's not hard to see that Obasanjo's privatization model , although saw to an uptick in FX inflows in the begining , set the one way wealth transfer out of the country.

Whenever I hear any govt talking and boasting of FIDs I shake my head.

We don't need any useless multinational corporation that owes fiduciary obligations to only. their foreign share holders.

The Dangote refinery is another money drain as Dangote owes foreign investors and banks a lot of money for funding his $20bn refinery. That there is another bottomless capital flight sink that will take decades for Dangote to repay the loan and investors.

1 Like

Re: Naira To Dollar Exchange Rate History (1972-2022) by DomPerignon: 4:30pm On Apr 25, 2025

Chekitaut:
Only a communist economy theory will save Nigeria.

What nonsense is this?

1 Like

Re: Naira To Dollar Exchange Rate History (1972-2022) by mrvitalis(m): 5:13pm On Apr 25, 2025

oz4real83:
That is why I keep saying that PDP has no justification to insult or criticise APC because both of them are the same killers of the economy. PDP met the currency at N90 in the black market in 1999 and left it at N300 in 2015 when they left power. APC met it at N300 in 2015 according to the post and has murdered the currency to over N612 in 2022 and they are still unrelenting and the murdering keeps growing . The same group of people changing parties but with their evil personalities still remaining

PDP met naira at ₦90 left it at ₦220 in 2015 oga that's 144% raise in 16 years.....16 years . But PDP also took our economy from 59 billion dollars to 575 billion dollars in 2014

APC met naira at ₦220 now it's 1650 that's 650% raise. In just 10 years .. APC met GDP at around 575 billion dollars... Now it's 188 billion
dollars

And you have the mind to say PDP is not better than APC? ...

Re: Naira To Dollar Exchange Rate History (1972-2022) by mrvitalis(m): 5:16pm On Apr 25, 2025

Chekitaut:
From 1999 immediately PRIVATISATION started with Obasanjo we lost it all... Politicians are the players in the private sectors. Introduction of higher domination currency allow corrupt to go higher day in day out.

Only a communist economy theory will save Nigeria.

Our economy grow by over 400% under Obj
Banking sector
Insurance sector
Radio
Tv channels
The Nigerian music industry today is his policy
Telecom industries

This are industries he creates or improved

But you are thinking of communists policy that has never worked anywhere on earth

1 Like

Re: Naira To Dollar Exchange Rate History (1972-2022) by baralatie(m): 5:24pm On Apr 25, 2025

So from 1985
It started spiralling
Informative

Re: Naira To Dollar Exchange Rate History (1972-2022) by baralatie(m): 5:25pm On Apr 25, 2025

In a graph
Please

Re: Naira To Dollar Exchange Rate History (1972-2022) by akigbemaru: 4:12pm On May 27, 2025

oz4real83:
That is why I keep saying that PDP has no justification to insult or criticise APC because both of them are the same killers of the economy. PDP met the currency at N90 in the black market in 1999 and left it at N300 in 2015 when they left power. APC met it at N300 in 2015 according to the post and has murdered the currency to over N612 in 2022 and they are still unrelenting and the murdering keeps growing . The same group of people changing parties but with their evil personalities still remaining

Re: Naira To Dollar Exchange Rate History (1972-2022) by Arda1000(m): 5:32pm On May 27, 2025

mrvitalis:
PDP met naira at ₦90 left it at ₦220 in 2015 oga that's 144% raise in 16 years.....16 years . But PDP also took our economy from 59 billion dollars to 575 billion dollars in 2014

APC met naira at ₦220 now it's 1650 that's 650% raise. In just 10 years .. APC met GDP at around 575 billion dollars... Now it's 188 billion
dollars

And you have the mind to say PDP is not better than APC? ...

u are quoting an unrepentant APC urching

Re: Naira To Dollar Exchange Rate History (1972-2022) by MomoriOchiro: 1:12pm On Jun 20, 2025

mrvitalis:
Our economy grow by over 400% under Obj
Banking sector
Insurance sector
Radio
Tv channels
The Nigerian music industry today is his policy
Telecom industries

This are industries he creates or improved

But you are thinking of communists policy that has never worked anywhere on earth

How will it work when your Western slave owners keep on sabotaging it with everything they've got. Jesus, look at Cuba and North Korea.

Re: Naira To Dollar Exchange Rate History (1972-2022) by mrvitalis(m): 1:22pm On Jun 20, 2025

MomoriOchiro:
How will it work when your Western slave owners keep on sabotaging it with everything they've got. Jesus, look at Cuba and North Korea.

Who sabotaged china? Vietnam? Lmao

You guys done understand basic economy... Locking a tank of water... Would never increase the amount of water

Capitalism has it flaws yes... But socialism is worse and has worse flaws

Re: Naira To Dollar Exchange Rate History (1972-2022) by MomoriOchiro: 7:00pm On Jul 10, 2025

mrvitalis:
Who sabotaged china? Vietnam? Lmao

You guys done understand basic economy... Locking a tank of water... Would never increase the amount of water

Capitalism has it flaws yes... But socialism is worse and has worse flaws

China accepted western hegemony. They aren't even anything remotely close to socialist. Vietnam is the same with them, however, your western slave masters also called it a third world country so what point are you trying to drive. Basic economics is nothing but a number fetish that fails time and again to apply to reality. Mr economics, you can watch this if you disagree:
https://www.youtube.com/watch?v=dc1egz5Om90?si=qImW3p7a49GBI12a

Re: Naira To Dollar Exchange Rate History (1972-2022) by trillville(m): 9:36am On Aug 09, 2025*

Alphagan:
Find Below Naira to Dollar Exchange Rate History

1972 $1 = N0.658
1973 $1 = N0.658
1974 $1 = N0.63
1975 $1 = N0.616
1976 $1 = N0.62
1977 $1 = N0.647
1978 $1 = N0.606
1979 $1 = N0.596
1980 $1 = N0.550 (0.900 Black Market Rate)
1981 $1 = N0.61
1982 $1 = N0.673
1983 $1 = N0.724
1984 $1 = N0.765
1985 $1 = N0.894 (N1.70 Black Market Rate)
1986 $1 = N2.02 (N3.90 Black Market Rate)
1987 $1 = N4.02 (N5.90 Black Market Rate)
1988 $1 = N4.54 (N6.70 Black Market Rate)
1989 $1 = N7.39 (N10.70 Black Market Rate)
1990 $1 = N7.39 (N10.70 Black Market Rate)
1991 $1 = N8.04 (N9.30 Black Market Rate)
1992 $1 = N9.91
1993 $1 = N17.30 (N21.90 Black Market Rate)
1994 $1 = N22.33 (N56.80 Black Market Rate)
1995 $1 = N21.89 (N71.70 Black Market Rate)
1996 $1 = N21.89 (N84.58 Black Market Rate)
1997 $1 = N21.89 (N84.58 Black Market Rate)
1998 $1 = N21.89 (N84.70 Black Market Rate)
1999 $1 = N21.89 (N88-N90 Black Market Rate)
2000 $1 = N85.98 (N105.00 Black Market Rate)
2001 $1 = N99-N106 (N104-N122 Black Market Rate)
2002 $1 = N109-N113 (N122-N140 Black Market Rate)
2003 $1 = N114-N127 (N135-N137 Black Market Rate)
2004 $1 = N127-N130 (N137-N144 Black Market Rate)
2005 $1 = N132-N136
2006 $1 = N128.50-N131.80
2007 $1 = N120-N125
2008 $1 = N115.50-N120
2009 $1 = N145-N171
2010 $1 = N148.21-N154.8
2011 $1 = N151.05-N165.1
2012 $1 = N155.09-N161.5
2013 $1 = N153.21-N162.9
2014 $1 = N170-N199
2015 $1 = N199-N300
2016 $1 = N300-N320 (N310-N370 Black Market Rate)
2017 $1 = N360
2022. Now. = Official = N419. Oops.
Unofficial = N610

What happened between 1999 and 2000?

There was no economic crisis to the best of my knowledge.

SOURCE: FACEBOOK POST

What I find interesting about this data is that the naira gained value between 2004 (N144) and 2008 (N115.5).
What was different about this period?
Was it the growing Excess Crude Account?
Was it the reduced government spending due to privatization?
Was it the gradual increase in fuel prices to reduce the burden of subsidies on the government purse?
Was it the consolidation of banks and the telecom industry growth?
Was it the growth of private sector players such as Nollywood and Afrobeats?
Was it the fact that no governor or state had a private jet?

Oil prices were not the highest during this period. In fact the highest oil price was between 2011 and 2014.

What was so special about this period?

Cc
Mrvitalis
Grandstar
Nairalanda1
Aribisala0
Kukutente23

Re: Naira To Dollar Exchange Rate History (1972-2022) by Javalist: 4:02am On Jun 07

It's June 2026 and Naira is officially 1385 to 1 Dollar.

Re: Naira To Dollar Exchange Rate History (1972-2022) by Moroccoguy: 4:19am On Jun 07

kk2027:
'Lagos builder' has truly continued from where Buhari stopped

$1 now = 1600

GWO GWO GWO

1600 or 2500.

1 Reply

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