I was working on a project and had to take a peep into the Nigeria's exchange rate and how it gradually depreciated, and I cannot but wish the worst on whoever joined in doing this to us.
We moved from the exportation of agricultural products to to importation of everything we need. No one seems to care, and according to worldpoverty.io, it is estimated that in 2030, Nigeria might go into extreme poverty.
Of course that isn't news since we are completely dependent on crude oil as our major (if not only) exportation.
The politicians aren't helping matters, as they are gradually looting the country to penury. What about you as a youth? Are you even taking any steps to better our dear country?
Well, let's look at the economy and how it gradually moved from the top to where we are now.
The Naira To Dollar Exchange Rate History From 1972 To 2017
• 1972 $1 = ₦0.658
• 1973 $1 = ₦0.658
• 1974 $1 = ₦0.63
• 1975 $1 = ₦0.616
• 1976 $1 = ₦0.62
• 1977 $1 = ₦0.647
• 1978 $1 = ₦0.606
• 1979 $1 = ₦0.596
• 1980 $1 = ₦0.550 (₦0.900 Black Market Rate)
• 1981 $1 = ₦0.61
• 1982 $1 = ₦0.673
• 1983 $1 = ₦0.724
• 1984 $1 = ₦0.765
• 1985 $1 = ₦0.894 (₦1.70 Black Market Rate)
• 1986 $1 = ₦2.02 (₦3.90 Black Market Rate)
• 1987 $1 = ₦4.02 (₦5.90 Black Market Rate)
• 1988 $1 = ₦4.54 (₦6.70 Black Market Rate)
• 1989 $1 = ₦7.39 (₦10.70 Black Market Rate)
• 1990 $1 = ₦7.39 (₦10.70 Black Market Rate)
• 1991 $1 = ₦8.04 (₦9.30 Black Market Rate)
• 1992 $1 = ₦9.91
• 1993 $1 = ₦17.30 (₦21.90 Black Market Rate)
• 1994 $1 = ₦22.33 (₦56.80 Black Market Rate)
• 1995 $1 = ₦21.89 (₦71.70 Black Market Rate)
• 1996 $1 = ₦21.89 (₦84.58 Black Market Rate)
• 1997 $1 = ₦21.89 (₦84.58 Black Market Rate)
• 1998 $1 = ₦21.89 (₦84.70 Black Market Rate)
• 1999 $1 = ₦21.89 (₦88-₦90 Black Market Rate)
• 2000 $1 = ₦85.98 (₦105.00 Black Market Rate)
• 2001 $1 = ₦99-₦106 (₦104-₦122 Black Market Rate)
• 2002 $1 = ₦109-₦113 (₦122-₦140 Black Market Rate)
• 2003 $1 = ₦114-₦127 (₦135-₦137 Black Market Rate)
• 2004 $1 = ₦127-₦130 (₦137-₦144 Black Market Rate)
• 2005 $1 = ₦132-₦136
• 2006 $1 = ₦128.50-₦131.80
• 2007 $1 = ₦120-₦125
• 2008 $1 = ₦115.50-₦120
• 2009 $1 = ₦145-₦171
• 2010 $1 = ₦148.21-₦154.8
• 2011 $1 = ₦151.05-₦165.1
• 2012 $1 = ₦155.09-₦161.5
• 2013 $1 = ₦153.21-₦162.9
• 2014 $1 = ₦170-₦199
• 2015 $1 = ₦199-₦300
• 2016 $1 = ₦300-₦320 (₦310-₦370 Black Market Rate)
...and we're in 2019, still talking of Next Level when there are no visible changes anywhere in our maps.
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