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If you earn N1 daily you won’t make $1 in a year – Marketer raises concerns over naira value

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A Nigerian lady simply known as Tolu has expressed worry over the continuous decline of the naira in terms of value.

The digital marketer did a comparative analysis using dollars and noted that with the current exchange rate against the naira, if someone earns N1 everyday, that person will still not be able to make up to $1 after 365 days.

Tolu took to Twitter to raise concerns and other Nigerians on the platform came to the realisation that it is factual.

She tweeted; ”The difference between 1Naira and $1 is so big that if you Earn 1Naira everyday you won’t make $1 in a year.”

See .....:

In reaction, @Omo_wunmi_ wrote; You’ll even be making half of it – N365 < $1

@theakorede; On black market, two years never reach

@OTunBa7; 2Naira everyday still won’t get you a dollar in a year…

@Tegadeyforyou; Wow. Calculating this. It’s so true oh

@GallantMaverick; 1Naira everyday for a year can’t even get data subscription that’ll last for a week🥺

@StarkParsifal; it will take 2 years.. if lucky it doesn’t dip more

Meanwhile, Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, earlier said the dollar might drop to N200 after the Central Bank Of Nigeria (CBN) implements the redesigning of the naira.

The anti-graft agency boss made this statement in a recent interview with Deutsche Welle (DW) Hausa service.

Bawa said; “The law says the redesigning of Naira notes should be done every eight years but we spent 20 years without any changes on them.

And that resulted to 85 per cent of money are in circulation not in banks, when CBN came up with this redesigning, dollar moved to 880 and later dropped to 680 or thereabouts. So you see with this redesigning dollar may massively fall, who knows probably to ₦200.”

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