The Story of Naira: How E Take Dey Fall Reach Now

If you dey follow Naija matter wella, you go don notice say Naira no be as e be before. The value don dey fall like mango wey don ripe. But you ever wonder how e take reach this level? Make we chook eye inside this matter well well.

Once Upon A Time

Once upon a time, Naira dey strong like Hulk. For the 80s and even reach 90s small, if you hold like $1, you go fit change am get good Naira. That time, Naira get weight.

Oil Dey Flow

One of the reasons wey make Naira strong that time na because we get plenty oil and the oil market dey boom. Money just dey flow like water, and Naija be like place wey everybody dey rush go.

But Yawa Gas

The yawa wey gas na say we no diversify. We put all our eggs for one basket. So, the day wey oil price start to dey fall, Naira follow fall like person wey slip for bathroom.

Corruption Wey Enter

Corruption na another big palava wey make Naira dey crawl. People wey suppose manage our economy dey pack the money go foreign account. So, Naira come dey lose weight small small.

Foreign Debt and Foreign Reserve

Our foreign reserve no too get muscle, and we dey owe other countries plenti money. This one self make Naira dey weak like malnourished chicken.

Wetin Government Dey Do?

The government don try put some policy for ground like ban on some imports, but all those ones never really solve the problem. Even Central Bank don try change some rules, but the thing be say, if the foundation get problem, the whole building go dey shaky.

Wetin We Fit Do?

1. Diversify Economy: Make we no put all our hope for oil. Agriculture, technology, and even entertainment fit help boost our economy.
2. Fight Corruption: Make we dey serious for this fight against corruption. If we fit recover some of that money wey dem steal, e go boost our economy.
3. Encourage Local Production: Make we dey patronize our own. If we dey buy Naija, Naira go get value small small.
4. Educate People: Make we dey teach ourselves about how economy dey work. If we get sense for that area, we fit know how to take better steps wey go improve the value of Naira.

The story of Naira na story wey get many sides. But the koko be say, if we no do something fast, the future fit no get space for Naira at all. Make we put hand together make this Naira story fit get better ending.