2022 has proved to be a challenging year for the naira. It has lost close to 36 percent of its value relative to the dollar in the parallel market. The naira is currently trading at N437.05/$ at the official rate and N760/$ on the parallel market, coupled with inflation at 20.7 percent and subdued forex earnings from the sale of crude oil; these factors have led to significant erosion in the wealth of the vast majority of Nigerians as prices of goods and services have doubled over the past four years.

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