Over the past 50 years, the naira’s buying power has evaporated. In 1973, ₦100 could buy multiple bags of rice in Nigeria. Today, in 2025, it can barely cover two to four sachets of water in some places. That’s not just inflation; it’s a historic collapse in purchasing power. When the naira was introduced to replace the Nigerian pound in 1973, it was worth more than the US dollar. In fact, one dollar traded for just ₦0.66 at the time, according to the Central Bank of Nigeria. Oil was booming, government revenue was high, and the new currency
Over the past 50 years, the naira’s buying power has evaporated. In 1973, ₦100 could buy multiple bags of rice in Nigeria. Today, in 2025, it can barely cover two to four sachets of water in some places. That’s not just inflation; it’s a historic collapse in purchasing power. When the naira was introduced to replace the Nigerian pound in 1973, it was worth more than the US dollar. In fact, one dollar traded for just ₦0.66 at the time, according to the Central Bank of Nigeria. Oil was booming, government revenue was high, and the new currency