{
  "id": 3731961,
  "title": "Nigeria’s highest currency can’t buy 1 liter of fuel – Nollywood filmmaker, Olaide Olabanji",
  "url": "https://urgent.news/2026/08/27/nigerias-highest-currency-cant-buy-1-liter-of-fuel-nollywood",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-27T12:01:29.000Z",
  "source": {
    "name": "Daily Post Nigeria",
    "slug": "daily-post-nigeria",
    "url": "https://dailypost.ng/2026/08/27/nigerias-highest-currency-cant-buy-1-liter-of-fuel-nollywood-filmmaker-olaide-olabanji/"
  },
  "original_language": "en",
  "account": "Veteran Nollywood filmmaker and production founder, Olaide Olabanji, has expressed deep concern over the diminished purchasing power of Nigeria's highest currency note, the N1,000. Introduced on October 12, 2005 during President Olusegun Obasanjo's administration, the N1,000 note once held significant value. Back in 2005, the US Dollar to Naira exchange rate was N132, making the N1,000 note worth more than $7. However, in recent years, the value of the N1,000 note has plummeted, losing over 94% of its purchasing power according to Quartus Economics. In a recent Instagram video, Olabanji lamented the dire state of Nigeria's economy, stating that the N1,000 note no longer holds enough value to even purchase one liter of petrol, emphasizing that something is profoundly wrong with Nigeria's economic situation.",
  "summary": "Olaide Olabanji, a veteran Nollywood filmmaker and founder of LAIBAN movie production, has lamented the poor purchasing power of Nigeria’s highest currency note, N1,000. DAILY POST reports that N1,000 note was introduced on October 12, 2005 during President Olusegun Obasanjo’s administration. In 2005, the US Dollar to Naira official exchange rate was N132. At that […] Nigeria’s highest currency…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}