Twitter Users Perception of Naira Depreciation Against the Dollar in the Parallel Market; a Study of Residents in Awka Metropolis

ABSTRACTThis study seeks to examine Twitter Users Perception of Naira Depreciation againstthe Dollar in the Parallel Market; a study of residents in Awka metropolis. Theobjectives of the study are to examine the frequency of discussions about Nairadepreciation on twitter among respondents and to identify the main concerns andsentiments expressed by respondents regarding Naira depreciation in the parallelmarket. The theory adopted for this study is Agenda-setting theory by MaxwellMcCombs and Donald Shaw in 1972. The research design used is survey researchmethod. The population of study comprised 18,776,251.entire residents of Awkametropolis. The sample size is 400. The sampling technique is purposive samplingtechnique. The instrument of data collection is questionnaire. The study concludesthat the high frequency of discussions about Naira depreciation on Twitter illustratesits significant impact on public discourse, highlighting the platform’s role inamplifying economic concerns. This engagement reflects widespread public anxietyabout currency issues, reinforcing Smith’s observations about social media’s role ineconomic crises. The researcher recommends that Government and financialinstitutions should improve communication strategies on social media to addresspublic concerns and provide clarity on measures related to currency devaluation andalso policymakers need to implement and monitor interventions that mitigate theimpact of currency depreciation on prices to alleviate the immediate financial strainon consumers.