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Nigerian Naira Appreciates To N184 to 1 Dollar Few Hours To Presidential Election

Few hours to the presidential and National Assembly election, Nigerians were perplexed when the Google search engine ‘showed’ that the Naira has suddenly appreciated and is now trading at N184 to a dollar.

 The last time the country’s currency traded at N184 naira against the dollar was in 2015 and many people were wondering what was responsible for this new figure being displayed in the evening of Friday, February, 22.

Investigation also showed CBN rates for forex as recorded on February 20, 21 and 22 showed that 1 USD is traded at 306 naira.

 This shows that the sudden naira appreciation being shown on Google search result is a bug that is expected to the corrected soon. Meanwhile, the reports of a presidential survey has stated that majority of Nigerians believe the economy of the country is improving.

The survey conducted by the Presidential Delivery Unit (PDU) stated that 57.3% of Nigerians who responded to the survey are of the view that the economy is getting better. Babatunde Osibamowo, senior special adviser to the president on monitoring and evaluation, office of the vice president, noted that the research was carried out in the fourth quarter of 2018, Daily Trust reports.

He said the survey was on the awareness of the Economic Recovery and Growth Plan (ERGP), adding that the methodology of the survey was a random sample of 2000 Nigerians from all the states of the federation with the sample being gender balanced. The presidential aide stated that the method of survey was by telephone and that while findings indicated that 57.3% of respondents think that the economy is improving, 46.7% believe the economy is improving gradually.

He said 8.4% of respondents are of the view that the economy has improved a lot; and 62.7% of respondent noted that the social investment programmes are reducing poverty.