This work is a comprehensive analysis and an overview of  exchange rate policies that have the potential to reinstate the Nigerian exchange rate to levels observed prior to the Buhari era. The essay delves into the ramifications of exchange rate policies on the Nigerian economy, identifies the factors contributing to the devaluation of the exchange rate, and explores practices employed by other economies. By drawing upon insights gained from other economies, the essay puts forth a set of policy measures. These measures encompass the implementation of monetary policy adjustments (adoption of market-based exchange rate system & reinforcement of monetary policies), Structural Rеforms (Economic diversification and competitiveness), Fiscal policy reforms (Strengthening Monetary Policy & Promoting Fiscal Discipline) and international Cooperation and assistance programs. The essay concludes that a comprehensive approach incorporating these policies can contribute to the stabilization of the exchange rate and the fostering of sustainable economic growth.