Naira Devaluation Sparks Economic Turmoil in Nigeria, Urgent Diversification Needed
Devaluation is when a country's money loses value compared to another country's money. It can help a country like Nigeria during tough times. Looking at Nigeria's exchange rate from 1972 to 2020, it's suggested that the government should make the economy more diverse. Devaluing the currency should only be done as a last resort to fix economic problems.