Nigerians have lamented that despite the massive appreciation of naira against foreign currencies in recent times, prices of food items and goods have not crashed.
They spoke in response to a social media survey conducted by Daily Trust Online, asking people to indicate what has reduced as a result of the recent appreciation of naira.
Daily Trust reports that naira has gained massively in recent times following aggressive defence of the local currency against the dollar by the Central Bank of Nigeria.
The dollar, which almost hit the N2,000 mark a few weeks ago, has crashed to about N1,150 at the parallel market.
At the time the naira was experiencing a free fall, prices of food items and imported goods spiraled out of control, worsening the cost of living crisis in Nigeria.
But “have the prices of essential goods reduced in your area as a result of the naira gain?” as asked by Daily Trust on its verified social media pages on Facebook, Instagram and X (formerly Twitter), many Nigerians said they are yet to see the result.
They, however, hoped that things would begin to come down if the government continues on the present trajectory.
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