Will one Naira ever be one dollar again?
boys2men asked 2 years ago
I used to read that back in the seventies and early eighties, one naira was equivalent to one dollar, infact there was a time naira is more than dollar. But ever since mid and late 80's during military regime that naira started losing value, it has been on a regular retrogressive drive and today, the blackmarket value of one dollar is over N700. While campaigning in 2014, this present APC government promised Nigerians N1=$1 but its getting worse. Will $1 ever exchanged for N1 again?
1 Answers
ProfT Staff answered 2 years ago
No one knows what the future holds. The rate may eventually be equivalent and this may happen in the next 100 years or more or even less. No condition is permanent and I believe Nigeria cannot be retrogressing like this for ever. We will eventually get it right at some point in the future.
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