I’ve noticed a lot of people just assume that if the naira gets stronger against the dollar, prices for stuff will drop immediately, but that's honestly not what happens. If you're living in Nigeria, you know prices are slow to go down even when the exchange rate improves. Like, my mom was hoping her favorite brands would get cheaper now, but the shops didn't really change prices much this week even though the naira gained over N30 against the dollar.

A stronger naira should make imports cheaper in theory since sellers pay less for goods in dollars. But in reality, there are other issues—like old stock bought at higher rates, transportation costs, and businesses trying to make up for losses from before. I learned that from watching my aunt buy stuff for her supermarket. Sometimes she can't reduce prices just because the naira gained for a week. It really takes a sustained gain and some time before regular people feel it in their wallets. So, I wouldn't expect prices to drop overnight. It’s annoying, but that’s just how it is.