Can fixing the naira's value and stability really make Nigeria wealthier or is that just what people say to get attention?

Updated May 22, 2025 • 1-min read

Posted by Anonymous

May 21, 2025

1 answer

currencynairaBusinessNigeriawealth

1 Answer

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Posted by Anonymous - May 21, 2025

Honestly, I used to believe that if the naira could just get stronger, Nigeria would be instantly richer. But now that I've seen how things work, I think that's only half true. Yeah, if the naira stops crashing, there's less inflation and your money doesn't lose value as fast. That means regular folks, like my family, don’t watch prices double all the time. It feels like you're getting richer just because money goes further.

But here's the catch: just fixing the naira doesn't magically create jobs, fix roads, or boost businesses. It's more like a sign that other good stuff is happening, like more trust in banks, better leadership, and less corruption. People love to hype up currency fixes, but unless the whole business and political scene gets better, it's not a miracle solution. I’ve seen a lot of people get disappointed when a "currency plan" gets shown off but nothing else really changes.

So yeah, making the naira stable is super important, but it's not the only answer. It’s like putting a new coat of paint on an old car—it looks better, but you need to fix the engine too!

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