It was the best performing when it appreciated in price from ₦1600 to ₦1001 to a dollar. But it later decreased to ₦1460 which is now the price as I was posting this. Naira is too volatile. I saw the news recently but I was not surprised about it. There is no way the government will want to manipulate, the economy will determine the price of fiat.
The thing about Naira appreciation and depreciation is tied towards the economy of the country. The reality remains that if we as a nation are not ready yet to change the status quo and work on the true solution to our very unstable economy, it will always affect our currency which will fluctuate in the uptrend and downtrend. What I expect the government to do, which they are currently doing is to work towards strengthening on our GDP and increasing our investments on local production. Nigeria has all it takes to be a major producer of most demanding products in the world, including mineral resources as well as iron ore and coal, all we need to do is to properly explore these areas and commercialize them. Government needs to go into as much PPP arrangements as possible with private sector to make this happen. This is just one aspect amongst others that we can explore.
