The Nigerian naira has continued to gain strength against the US dollar in the foreign‑exchange market. According to data from the Central Bank of Nigeria, the naira appreciated to N1,526.06 on Tuesday, a marginal gain of 0.03 from the previous day’s rate of N1,526.09. This slight increase indicates a positive trend for the naira, which has been experiencing fluctuations in recent times, and suggests that it is slowly regaining value against the US dollar.
In contrast, the black‑market rate remained stable at N1,533 per dollar, unchanged from the previous day, as confirmed by Bureau De Change operator Abubakar Alhasan in Wuse Zone 6. The development comes amid a response from Presidential spokesperson Bayo Onanuga to criticism from the opposition coalition, the African Democratic Congress. Onanuga stated that the US dollar is no longer the dominant currency against the naira, highlighting the government’s stance on the country’s economic situation and the value of its currency.
The Central Bank of Nigeria’s latest external‑reserves data shows a steady increase, with reserves standing at $41.42 billion as of 1 September 2025, up from $41.22 billion on 29 August 2025. This growth is a positive indicator of Nigeria’s economic stability and its ability to manage the naira.
The naira’s performance against the US dollar is being closely watched because the country relies heavily on foreign exchange for international trade. Currency stability is crucial for businesses and individuals engaged in cross‑border transactions. As the Nigerian economy continues to evolve, the value of the naira will remain a key focus for policymakers, businesses, and citizens alike. The recent foreign‑exchange trend, combined with growing external reserves, suggests that Nigeria is making progress in managing its currency and navigating the complexities of international trade, and the naira’s value is likely to remain a critical aspect of the nation’s economic development.
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