Omoyele Sowore’s Prediction on Naira Depreciation Comes True as Currency Edges Closer to Record-Low of N1,500 Against the US Dollar

Sowore’s Prediction on Naira Depreciation in 2024 Comes True

In the aftermath of the 2023 general election, Omoyele Sowore, the presidential candidate of the African Action Congress (AAC), is asserting that his forecast regarding the depreciation of the naira in 2024 has materialized.

Naira Nearing Record-Low Against US Dollar

As reported by Naija News, Nigeria’s currency, the naira, is on the brink of reaching a historic low, approaching N1,500 against the US dollar due to a severe shortage of dollars in the parallel market.

Exchange Rate Hits Fresh Low, Traders Anticipate Further Weakness

The exchange rate touched a new low of N1,460 per dollar in the parallel market on a Tuesday morning, with traders expecting increased weakness in the coming days as the shortage of dollars intensifies.

Sowore Reiterates Prediction Amid Economic Challenges

In a post shared on his official X handle, Sowore reiterated his prediction, stating that he had foreseen the local currency being exchanged for N1,500 to $1 by 2024.

Against the backdrop of the current economic challenges facing the country, he declared that Nigeria has been thoroughly affected, urging fellow citizens to reclaim the nation from those he accuses of ‘killing’ it.

Urgent Call for Action

Concluding his post, Sowore emphasized the urgency of recognizing the nation’s predicament, stating, “The earlier we all realize that this country has been finished and we all go out to take our country back, the better.”

This impassioned call underscores his belief in the need for collective action to address the challenges and restore the economic stability of Nigeria.

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