Naira, Nigeria‘s currency, don dey face hard times as e fall to 1,705 naira per dollar for the parallel market. Dis latest development show say the economic challenges wey the country dey face no be small thing.
Experts say the continuous devaluation of the naira against the dollar dey cause inflation and make life harder for Nigerians. The high exchange rate also affect businesses, especially those wey import goods from abroad.
The Central Bank of Nigeria (CBN) and the federal government don dey try to stabilize the currency, but the challenges persist. The weak naira also impact on the country’s foreign reserves and the overall economic stability.
As the naira continue to fall, Nigerians dey hope say the government go find solution to this problem soon, so that the economy can start to grow again.
