Exchange Rate Fluctuations And Their Effects On Nigeria's Economic Performance
Eze Chidi Nwauba
Volume 5, Issue 3, September 2025
Persistent variations in the currency rate impact Nigeria's economic performance, which this paper aimed to discuss. This study set out to answer why Nigeria's monetary authorities have been so unsuccessful in their recent attempts to achieve internal and external balances. According to the research, Nigeria's economic growth was severely hindered in the long term by the currency rate, inflation, and net direct foreign direct investments. The overall conclusion drawn from this study is that Nigeria's economic progress is hindered by excessive exchange rate swings. The study's empirical findings support the recommendation that Nigeria diversify its exports in agriculture and increase agro-investment. The government should implement meaningful changes to influence the system and mitigate the negative impact of an unstable foreign exchange market on Nigeria's economy.