February 13, 2024

ISSN – PRINT:2756-4495 | ONLINE: 2756-4487

Volume 04, Issue 01 – 2024

Restoring Nigeria’s Exchange Rate to the Goodluck Jonathan’s Era for Economic Recovery and Growth

1-2 Silva Opuala – Charles * Imoh Umah. Email: .com 

Corresponding Author. Garden City Premier Business School, European Global School – Paris, France. Plot 13 Herbert Macaulay Street, Old G.R.A, Port Harcourt, Rivers State, Nigeria

ABSTRACT

This paper analyzes the factors contributing to Nigeria’s current exchange rate challenges, particularly comparing the economic performance during the administrations of Presidents Goodluck Jonathan, Muhammadu Buhari, and Bola Ahmed Tinubu. It also looks into the overall state of the economy and strategies to restore Nigeria’s exchange rate to pre-Buhari levels. Key issues discussed include the decline in the Naira’s value, rising inflation, and the challenges faced by different sectors. The research underscores the adverse effects on citizens, especially the poor, and emphasizes the need for urgent government intervention. The recommendations suggested encompasses measures to boost foreign exchange supply, manage demand, and enhance economic stability. Some of them includes promoting non-oil exports, addressing political stability concerns, managing inflation, and implementing policies to discourage currency speculation.

Keywords: Balance of payments, Exchange rate, Fiscal policy

 

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