IN 1980 IT WAS 80 kobo to US$1
TODAY NIGERIA EXCHANGES ₦470 to 1$

BUT HERE ARE THE MAJOR REASONS.

We shouldn't be surprised.

We were far more productive in 1980 than we are today

In 1980 the key reasons for economic growth were are as follows: 1) We were a net exporter of refined petroleum products. Today we import all our refined petroleum products.

2) We rode in locally assembled cars, buses and trucks.
-Peugeot cars in Kaduna and Volkswagen cars in Lagos.