DOLLAR v NAIRA: WHY PRICES OF GOODS AND SERVICES HAVEN’T REDUCED DESPITE RECENT DOLLAR CRASH
ACCORDING TO BUSINESS ANALYSTS In February 2024, the naira reached a record low against the dollar, trading at 1800 naira to the dollar, the lowest rate in recorded history. This economic situation placed Nigerians under significant hardship as the prices of goods and commodities skyrocketed overnight, with some increasing by 40% and others by 100%….