…Rwanda, Nigeria among 10 African countries with weakest currencies
The Emir of Kano, HRH Muhammadu Sanusi II, has lamented the worsening state of Nigeria’s economy, stating that every sector in the country is battered and in decline.
Represented by labour and human rights activist, Auwalu Yakasai (Danmalikin Kano), the monarch made the remarks at the 51st regular National Executive Council (NEC) meeting/training workshop of the Senior Staff Association of Nigerian Universities (SSANU), at the Aliko Dangote University of Science and Technology, Wudil, Kano State.
Meanwhile, as of mid-2025, several African nations continue to face significant currency challenges, largely due to inflationary pressures, reliance on imports, and prolonged macroeconomic instability, according to a report by Business Insider Africa using data from the Forbes currency calculator (as of June 23, 2025).
According to the Emir, the Nigerian labour movement is going through one of its most challenging eras in history, and no longer stands as the vocal champion of the masses as it once did.
“Every other sphere of human endeavour in Nigeria is now being battered. The economy, social life, education and health are all going down,” the Emir said. “Even the labour movement is under a dwindling fortune.”
He described the hardship in the country as unprecedented, pointing to recent increases in fuel prices and a steep economic downturn. He noted that in the past, labour unions were at the forefront of resisting anti-people policies and defending the rights of workers.
The 10 African countries with the weakest currencies against the United States dollar, according to the report, include: São Tomé and Príncipe (which currency trades at 22,281.80/dollar), Sierra Leone (20,969.50/$) and Guinea (8,657.48/$).
Nigeria’s currency (NGN) exchanges at 1,553.68 per dollar, reflecting recent depreciation despite signs of recovery. While some countries are showing early signs of recovery driven by policy adjustments, currency weakness continues to weigh on import costs, inflation, and household purchasing power. (Agency Report)
