Nigerians continue to struggle with the bluster of the terrorists who promised to kidnap President Muhammadu Buhari after learning on Wednesday that the value of the naira had dropped by N700 to the dollar.
The governor of the Central Bank of Nigeria, Godwin Emefiele, has been called by the Senate to appear before it and explain why the naira is collapsing, according to Vanguard.
Nigerians are discussing about this on Twitter as they express concern about how vulnerable the country’s economy is now that the naira has fallen.
Former Vice President Atiku Abubakar, the Peoples Democratic Party’s presidential contender, is one Nigerian who has responded to the depreciating value of the country’s currency relative to the US dollar.
According to Atiku, increasing exports, stabilizing the Naira, and expanding the economy (increasing GDP) are all interconnected. A logical and investor-friendly foreign exchange policy that raises the domestic businesses’ level of global competitiveness is necessary to boost exports.
Yusuf Datti Baba-Ahmed @YDBaba_Ahmedl, the Labour Party’s vice presidential candidate, stated: “One dollar is now 710 Naira.and you still wish to support Tinubu in order to keep Buhari in power. I feel sorry for you.
“As long as Godwin Emefiele is CBN governor, we may have naira at N800 – $1,” tweeted rights activist Rinu Oduola, @SavvyRinu. He’ll see to it that we wind up in the trenches.
“The devaluation of the Naira is getting worse and worse. For the Naira, the past week has been horrible. According to sports journalist Bolarinwa Olajide @iambolar, the next president of Nigeria would confront the biggest economic crisis and challenge in history.
“Your money for bank in Naira, you no fit use am brag again because Buhari dey reduce the dollar equivalent value daily on a steady basis,” @FS_Yusuf_ also said in Pidgin English.
“710 naira is worth one dollar. Our hard-earned money is being mocked by this economy,” @surajoharuna827 responded. “We are gradually moving toward Zimbabwean customs, where you will need to accumulate a substantial amount of money in order to purchase a loaf of bread.”
