There are two events that have occurred in the past one month in Nigeria that have the potential to impact the exchange rate.
1. The Launching of Dangote Refinery:
It is believed that the facility could produce adequate refined fuel ⛽ for local consumption. Asides that, the excess production could be exported. Export means demand for the NGN and appreciation of the currency.
2. The BAT administration :
The BAT administration is very critical for the economy of Nigeria. Starting with the removal of fuel subsidy and the reaction of the USD to NGN as a result is just one of the many policies to be introduced.
How do you think these two events could impact the strength of NGN against the USD? Will you buy and save USDTinstead of saving in NGN?
You need to know some basic rules of economics, i know you can think its a good analises what a reyou making and in some ways it is, but you are lacking ONE BIG FACTOR.
The factor its, in a country like Nigeria always its better to have a non so powerfull coin, because you are a basic exporter country and also that can maintain low the imports, so the countrie can have more easy a positive balance of trade.
Imagine you are USA and you need to buy oil, and one countrie have 1/10 against usd, and other 1/20 , its much more cheap to them to make busines with the most depreciated coin.
Before you say something, yes in the long place you need a strong coin, but unless you need to make more of this steps.