The study looked at what affects the real exchange rate in Nigeria. They found that certain economic factors like inflation and government spending play a big role in exchange rate changes. The researchers used different tests to show that these factors are connected in the long term. They also found that the exchange rate adjusts to its normal level at a rate of about 57% each year. Overall, the study shows that government spending, money supply growth, inflation, and real interest rates are the main factors influencing exchange rate changes in Nigeria.