Naira keep loosing it over USD. BTC for rescue as inflation turn traditional

[AVE5]

This news N70,000 Minimum Wage Has Lost Value As Naira Falls prompts me on this post after researches carried out because it's sad earning so big especially the civil servants (and end up the category of poverty).
Indeed once upon a time when naira was ahead the USD and were never equivalent to be compared in those days. Chai, how bad it real feels loosing our fortunes and ego.  
How we came this far backwards to the # loosing it values to $? this happened after the govt engaged with the S.A.P and World bank that's supposedly to be a structure to straighten the economy growth thus things was better than latter the adoption.

    It's weeping to see this historical values were # gradually loosing it up til date.
                                    
                                    
                                    
                                    
     Make una see how we take lost 1 of the criterias way make us become/lost the the African giant from Top to Bottom                                                                            

Ask yourself this question, when will all this get better? What can I do to help my country escape from poverty?

Me; The economy gets better only when there's minimum of poverty, specially when individuals funds has values towards the economy therefore, we don't only lookup to earn in the hard currency as the USD/Euro, inflation has crippled the fiats and that's why I'll keep advising us to store our monies where it can keep values in the long time of which, saving for in bitcoin is the remedy. And I'll also say it to each and everyone to get hope lost on the govt and strive on your rescue because govt won't do it for you. In that case, once it's good for the common citizen to an average level, there be minimal of poverty to balance the system.

Source; Naira to Dollar exchange rate record over 51 years (1972-2023) https://sparkgist.com/naira-dollar-exchange-rate-record/

Let me also use this medium to direct us to this economy thread I recently created. It's trending with good working instruments of users contribution there. Check it out. Maybe it might help you have some good insight that saving your money in fiat is a way back referencing the economy conditions.

[Wiwo]

Ant we suppose to be tired of all this crying out for Naira value lost and what make us a Nation at the head of Africa continent, for a gact Nigeria is the giant of Africa in everything so let us not doubt our position in the Africa continent check around use this forum as example which other Africa countries are as represented like Nigerians.

The problem of our beloved country Nigeria is not a political problem most times but a systemic problem which have embedded corruption into iut National lifestyle, so we need to have an effect system that can push out the current system and establish the right system things will start working as expected.

[Churchillvv]

When I look at the 1980s and everything that happened which I read from one of Micheal Crowder's history books of Nigeria, it's a shame that we couldn't fight this battle and when instead we lost consistently from the 1985 and above, the problem of Nigeria naira lossing value came as a result of international pressure from the British government and the United States government which used the IMF as a tool to destroy the high valued naira so they can keep exploiting Nigeria crude oil.

The US and other international bodies used IMF to force Nigeria to sign in the deal of (SAPs) structural adjustment programs which means devaluing naira consistently, during Ibrahim Babagida regime the bill was signed and till date Nigeria is unable to revoke the deal and so we kept drowning in the hands of this people. If you don't know history you will keep blaming of our today leads but it's deeper than just a 4, years  tenure correction, if has to be rooted out from the deals before we can have a better economy. (Remember all this came as a result of naira being too expensive for the US, UK and other countries like Vietnam to purchase the discovered crude oil which was the main economic focus then, and the SAPs program was the only way to destroy the value and make them enjoy exploiting us) infact this a discussion for another day I can't keep going, if not pages of book will be uploaded on this thread. lolz

I don't still imagine naira getting better instead it might have a seizure for some time and never to go down than the international institutions want, consequently, we just have to use an alternative which is bitcoin to save ourselves from the mess that this naira would put us from it's lossing value yearly.

[Kelward]

We as ordinary Nigerians needs to look beyond our government to know how we go take help our own personal economy. Our government don fail us in many ways wey de make our economy and currency to de lose value, di worst part be say our politicians no care. At dis stage of our economy we still de import most of di things wey we de use including finished petroleum products, thank God for Dangote, wey de remove dat shame from us.

Thank God for cryptocurrency, e don help a lot of us to escape di effect of our devaluing naira, make we no hesitate to take advantage of cryptocurrency to hedge against inflation. E de worthy to note say no be every cryptocurrency we suppose to take hedge against inflation, na only Bitcoin don proof im potentials as a store of value to hold our money.

Cryptocurrency de volatile so e mean say di value de fluctuate, dat na why e de better to hold our money wey we want to convert into Bitcoin for di long term. We fit to convert money wey we no want to spend immediately into stablecoins wey no de volatile, because e de pegged to a currency wey de quite stable pass many currencies. Only hold money wey you want to spend within a short time for naira.

[Marvelockg]

    Make una see how we take lost 1 of the criterias way make us become/lost the the African giant from Top to Bottom                                                    

when there is no clear intentional efort on the part of the government to revampt our worsening economy and to at least bring it back to life, what do you think will become of it? we will continue to see our currency doing bad far worse than the currency of even our other African countries. the fact is that even with bitcoin, just a fraction of our population stand to benefit from it and use it as an edge against inflation.

if we conduct a real statistic on how many of the people that the effect of inflation is telling on actually knows about bitcoin and are currently using it as an edge against inflation, you will discover that quite an handfull of them knows little to nothing about the place of bitcoin as an edge against inflation. the average guy on the street uses the fiat for most of his survival and that is the reason why w can not just try to depend on bitcoin as a substitute to ensuring that our currency gains value again.

[AVE5]

Ant we suppose to be tired of all this crying out for Naira value lost and what make us a Nation at the head of Africa continent, for a gact Nigeria is the giant of Africa in everything so let us not doubt our position in the Africa continent check around use this forum as example which other Africa countries are as represented like Nigerians.

For the essence of the citizens to realize what we've been discussing about the economy at the level of the fiats loosing it values is worth discussing on the basis so that we can make better changes by taking drastic measures towards the devaluation of the Naira.
The position of being African giant isn't the case here but how we're suddenly loosing it all despites the resources.
Imagine 1₵ is over #140 and $1 is over #1,500. How we got here's the point and the rate of poverty is much increasing while average citizens are getting poor due to the worthlessness of the # and are still loosing it on the regular basis.
Also, our rate in the crypto space isn't an economy credit since the govt haven't been associating with the system. Of course we're survivals and that's how we captioned that popularity in the precised forum.
However, this calls for awakening every interested citizens to realize they're holding somewhat shit values that might look so big while those crying out loud without taken correction will be effortless because, you can't expect a change when still doing same thing.

The problem of our beloved country Nigeria is not a political problem most times but a systemic problem which have embedded corruption into iut National lifestyle, so we need to have an effect system that can push out the current system and establish the right system things will start working as expected.

It's unfortunate that we can't decide this as it still boils to political manipulations. It's alright reserved for each and everyone to sort it way out by considering bitcoin because since in the early 80's we begin loosing our global influence as the African giant, this has only become more of a title now of which interest that we can't protect. Adopting industrious mindsets to invest those funds where it can provide fortunes values in the long term especially off the unregulating assets will do exceedingly better than hoping on the govt.

[7juju]

It's really surprising to see the level at which our local currency has fallen over the years. You know back then our country was once a production and exporting country that was why our currency was so strong back then in the 70s and 80s. This was when the country was more into agriculture, but today we have abandoned that way and they country is now solely dependant on oil that has damaged our country currency. Almost everything we use in this country is now imported and there's no way the country economy will grow that way. Until our country turn back to exporting nation, our country currency will keep losing it's weight to the dollar.

[Salahmu]

I'm short of words seeing that what has become too big against our currency now was ones extremely small against our own currency, imagine 0.550 in Nigeria currency was worth a whole $1, looking at your data from the beginning to were you stopped it gives us one thing about our government because just like how we usually see whenever a new leader starts power by punishing people more than how the previous one did that's exactly how I also see this because after the first leader that stabilize the price the next person couldn't maintain it and that's how it has continued till it has become much and who knows if this will continue to the coming years how worst it might be.

[Youngrebel]

The last time I checked it was $1/N1537 and that was three weeks ago and as I saw this thread I checked it again and it is the same amount so I don't see any increase for long time now. But if we compared am to the previous government then we can say that dollar don go up well well. And for now things in the market dey come down small small. I was buying one bag of garri with #45,000 but now it is $20,000. Immediately after the Christmas period rice bag was sold N100,00+ but today it is sold as 60k and 70k. Dollar exchange rate has been on this $1/N1537 for some months now.
And we are use to it now so there is nothing to cry about.