The Nigerian naira has appreciated significantly against the United States dollar in the official foreign‑exchange market, marking a positive start to the week. According to data from the Central Bank of Nigeria, the naira strengthened to 1,456.56 per dollar on Monday, up from 1,464.49 on Friday, December 19, 2025—a gain of 7.93 naira. This is the first appreciation in the official FX market since December 15.
In contrast, the currency remained stable at 1,500 per dollar on the black market, according to bureau‑de‑change operators in Abuja. The development comes as Nigeria’s external reserves stood at $44.66 billion as of last Friday. The foreign‑exchange market has been closely watched in recent weeks, particularly with the approach of the Yuletide season, because the naira’s performance is crucial for the country’s economy. It affects the cost of imports and the overall competitiveness of Nigerian businesses.
The Central Bank of Nigeria has been working to stabilize the currency and maintain a steady exchange rate. The current rate is a welcome development for businesses and individuals who rely on foreign exchange for imports and other transactions. However, it remains to be seen whether the naira’s appreciation will be sustained in the coming days, and the country’s external reserves will continue to be closely monitored, as they play a critical role in maintaining exchange‑rate stability.
Nigeria’s economy has faced several challenges in recent months, including a decline in oil production and a shortage of foreign exchange. The government is seeking to diversify the economy and increase revenue from non‑oil sources. While the naira’s appreciation is a positive development, addressing these underlying challenges is essential to ensure sustained growth and stability.
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