The Nigerian Naira has experienced a dramatic depreciation against the US Dollar since its introduction in the 70s, when it was valued at N0.658 to $1. Over the decades, the Naira's value has plummeted, reaching N778.60 to $1 in September 2023, marking a staggering 125,480.64% depreciation. This trend has continued into 2025, with exchange rates reaching as high as N1,643.49 to $1, highlighting the persistent challenges facing Nigeria's currency and economy.

The Diminishing Naira Evaluation against the US Dollar