What Exchange Rate Would Make the Naira Truly Stable for You?

The Naira has slid from around ₦460 per dollar to over ₦1,500 in recent years. Businesses, students paying foreign fees, travelers and everyday consumers have all felt the impact. Some argue stability means hitting a specific rate—₦1,500, ₦1,300, ₦1,000 or even below ₦800. Others say consistency matters more: a steady ₦1,400 for years versus wild swings between ₦800 and ₦1,800. If you were President or the CBN Governor today, which exchange rate would you target and why? Would you prefer a lower rate with volatility or a higher rate you can count on? I’d choose a stable ₦1,000 per dollar for five years over unpredictable swings. What’s your view?

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