Nigeria’s currency analysis in comparison with Afghanistan, Pakistan Currencies
Organisation size: Small
Publication date: 29/10/2021
Credit: Olanrewaju Oyedeji
Olanrewaju Oyedeji is a Data Journalist with Dataphyte. A Management and Accounting Graduate from Obafemi Awolowo University.
He has worked with/had his works exclusively published on International Centre for Investigative Reporting, Premium Times, Ripples among others.
He is among the few Nigerian Journalists trained on Data Journalism by Voice of America and the United States of America Government.
He has used data to expose; Human RIghts Abuses, insecurity, conflict and promote Accountability.
His experience cuts through Tv, Radio, Online and Print Medias.
The project used Data to analyze why Nigeria’s currency is weaker than that of Afghanistan, Pakistan. The analysis also explained if this means that both countries are better economically than Nigeria. Delving into the right parameters for economic indication, what can be done to strengthen the country’s currency and implication of a weak currency on country’s development.
The project used data to inform the public about the economies of currency, measurement of economic performance, and helped to create a more in-depth understanding of the three economies given peculiarities and helped to demystify the age-long argument on using currency as an indicator of economic strength.
The report helped to inform many citizens and create policy conversations after its publication. It also helped to solve an age-long debate on currency and economic metrics for measurement of performance within this three countries.
I used open data technologies. I did this by getting various information around the economy, import, export, unemployment, type of export and type of import, market rankings among other economic metrics and data to arrive at an analysis.
The report is entirely Open data based.
What was the hardest part of this project?
Getting to use open data to create a connection and create a nexus to ensure balanced analysis given the critical nature of the piece.
Being able to use Data to create an objective analysis without creating an imbalance or outweighing one country over the other was a technical part of the piece.
This piece had to address an age-long debate in the economy on currency, the three countries and the real metrics of economic measurement, thus was pivotal to policy makers.
What can others learn from this project?
Journalists can learn to use data to shape policy discussions, create knowledge and help to enhance appropriate economic discussions.
In this instance, deploying data helped to solve a key policy argument and further helped inform policymakers and stakeholders especially on making informed economic decisions.