SHOCKING OUTRAGE: Obasanjo Drops Epic Economic Bombshell as He Compares ₦1 to $1.85 to Today’s ₦1,500/$1 Disaster!

Abdulhameed Sherif · Business · Oct 31, 2026

Former President Olusegun Obasanjo has expressed deep frustration over the staggering collapse of the Nigerian currency, recalling how a single Naira was worth more than a US dollar when he started his farm 47 years ago.

The state of Nigeria's economy has once again taken center stage after former President Olusegun Obasanjo bared his mind on the historic freefall of the Naira.

Speaking on the harsh realities of long-term economic mismanagement and structural decline, Obasanjo cast his mind back nearly five decades to when he first ventured into agriculture. ​ Recalling the glorious era of the Nigerian currency, the former leader noted the mind-boggling economic contrast:

The Golden Era: Obasanjo pointed out that when he established his farm 47 years ago, the macroeconomic reality was entirely different—back then, one Naira exchanged for a whopping $1.85.

The Brutal Reality: Comparing it to the present day, where the Naira trades around ₦1,500 to a single US dollar, he questioned how the nation allowed its currency to suffer such an unprecedented and catastrophic erosion of value.

A Call for Reflection: The elder statesman emphasized that the massive depreciation reflects decades of systemic policy failures, heavy import dependence, and a failure to build a resilient, production-based economy.

As Obasanjo’s comments send shockwaves through political and financial circles, ordinary Nigerians continue to groan under the crushing weight of inflation and soaring living costs tied to the weak exchange rate.