"Our Younger Generation Will Not Believe This" – Lauretta Onochie Recalls 1980 Exchange Rate

Former presidential aide Lauretta Onochie has sparked conversation on social media after sharing a nostalgic reminder of Nigeria’s former economic strength. In a post aimed at reflecting on the country's financial history, Onochie pointed out that in 1980, one US dollar was exchanged for just ₦0.546, meaning $1,000 was worth only ₦546.45. Her statement was underscored by the phrase, “Our younger generation will not believe this,” highlighting the stark contrast between past and present exchange rates.

The post comes amid ongoing public frustration over the continued devaluation of the naira, which has seen historic lows in recent years. Many Nigerians have expressed concern over the economic instability, inflation, and declining purchasing power that have become defining features of the country's financial landscape. Onochie's reminder has struck a chord with older Nigerians who recall a more stable era, as well as with younger citizens who have only known a weakened currency.

Reactions to her post have been mixed. Some praised her for drawing attention to the country’s economic decline and encouraging reflection on national progress. Others criticized her, pointing out that she served in a government under which the naira further depreciated and the economic situation worsened. Critics argue that her comments, while factually accurate, do little to address the structural issues that continue to hinder Nigeria’s economic recovery.

Nevertheless, the conversation stirred by Onochie’s remark has reignited public debate about the need for stronger fiscal policies, economic reforms, and leadership accountability. As Nigeria continues to grapple with inflation and exchange rate challenges, many citizens are looking to the government for solutions that will restore economic stability and hope for future generations.

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