Post by Henry Emeka (@Emekus)

Affordability Index simplified
Let’s compare how many liters ₦1,000 could buy:

Year Naira per $1 Petrol Price Liters per ₦1,000
2000 ₦102 ₦22 45 L
2012 ₦155 ₦97 10 L
2019 ₦360 ₦145 6.9 L
2024 ₦1,500 ₦617 1.6 L


Affordability has collapsed by over 90% in 20 years.

Conclusion the data clearly shows that Nigerians could afford petrol in earlier decades because the naira was far stronger.
Today’s affordability crisis is driven not only by subsidy removal but by the historic collapse of the naira. That is why 240 million Nigerians are suffering in darkness & poverty



https://nairaratetoday.com/naira-history?utm_source=copilot.com

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