the deflation of the Nigerian Naira. Over the past few decades, the Naira has significantly lost value against major currencies like the USD. In the 1980s, 1 USD was worth about 1 Naira. Today, 1 USD is worth over 1400 Naira. This dramatic decline in relative value indicates severe deflation and loss of real value.

- Intrinsic Value: The Naira, like most modern currencies, has no intrinsic value. Its worth is based on trust in the Nigerian government and economy.

- Relative Value: The Naira's relative value compared to the USD has plummeted, demonstrating significant deflation.

- Nominal Value: Despite deflation, the nominal value remains the same; 1 Naira is still 1 Naira.

- Time Value: Over time, the Naira's value has decreased due to economic instability, affecting its purchasing power.

- Real Value: The real value of the Naira has dropped. A Naira today buys significantly fewer goods and services than it did in the past.