A popular Nigerian music artist, David Adeleke, widely known as Davido, has cried out on his verified Twitter handle, that Nigerian Naira is fast sinking, heading towards One Thousand Naira per One US Dollar.
According to Davido, something serious must be done urgently to reverse this ugly situation. The upward movement of Naira to Dollar seems to be on a steady increase. In a tweet he dropped on his verified Twitter Handle, on Tuesday, Davido laments thus:
“Dollar heading to 1k. Drastic action is needed.”
In an accompanying report, Punch Newspaper had stated that “Banks had on Monday lamented scarcity of forex and warned their customers of some delays in accessing it.”
My people, let’s get talking about this. What is this untold connection between Naira and Dollar? This is has gone as far as the fact that even ordinary food items in the market increases in their cost when Dollar increases. I have made attempt at various ocassions to understand why Nigerian government will not follow what Russia did.
Why do we have to measure the strength and weakness of our local currency with another foreign currency, which we don’t even have quality access to?