When Olusegun Obasanjo took office in 1999, the exchange rate was ₦97 to $1; it was ₦128 under Yar'Adua in 2007. During Jonathan's tenure in 2010 it was ₦151 while it was ₦199 when Buhari was in office.
Despite efforts to let market forces decide the rate, the naira continues to weaken. Will the current administration turn things around soon?
As of March 2021, the Federal Government of Nigeria’s External DebtStock stood at $32.9 billion. Following President Muhammadu Buhari’s request to the Senate to approve $6.183 billion in May 2021, we give you the breakdown of the nation’s External DebtStock by category.
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