Vice President Kashim Shettima has criticized those finding amusement in the devaluation of the Nigerian currency. Speaking in Abuja, he emphasized that Nigerians should have united in efforts to revive the country’s economy.
Shettima expressed his dismay, stating, “It is not only disheartening and disenchanting but also heartbreaking that yesterday when the naira plummeted to N1500 to the dollar. Instead of us joining forces and working towards the recovery of our nation’s economy, regrettably, some individuals are celebrating on Twitter about an impending collapse of the Nigerian economy.”
DAILY POST reported that the naira experienced a depreciation on Tuesday, witnessing a 42% decline against the US dollar in the foreign exchange market within two days. FMDQ data revealed that the naira reached an unprecedented low of N1,482.57 per US dollar on Tuesday, compared to N1,348.63 on Monday, indicating a 9% or 133.94 loss from the previous day’s closing rate.