The currency that Nigeria uses for exchange is called Naira. To put that into easier terms of view 1 dollars is worth about 800 Naira. considering this you could kind of assume the current economic state of Nigeria. A few years back when I was still in elementary school I remember searching it up and it was 600 now it has risen to 800 showing the slow fall of Nigeria economy.
The GDP of Nigeria in 2022 was 3.3% when in 2021 it was 3.6%
, this was mainly caused by the lack of oil production which is one of Nigeria main sources of income. The economy system of Nigeria can be described as a mixed economy. One of the main problems that affect Nigeria economy is the lack of good leadership which is effecting the people in ways like transportation as well as causing corruption within the government and in places of power.