The Nigerian Naira has appreciated significantly against the United States dollar at 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. This represents a gain of 7.93 Naira against the dollar.
The Naira’s appreciation at the official FX market is the first since December 15th. 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 week Friday.
The foreign exchange market has been closely watched in recent weeks, particularly with the approach of the Yuletide season. The Naira’s performance is crucial for the country’s economy, as 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 stable exchange rate.
The current exchange 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. The country’s external reserves will also be closely monitored, as they play a critical role in maintaining a stable exchange rate.
Nigeria’s economy has been facing several challenges in recent months, including a decline in oil production and a shortage of foreign exchange. The government has been working to diversify the economy and increase revenue from non-oil sources. The appreciation of the Naira is a positive development, but it is essential to address the underlying challenges facing the economy to ensure sustained growth and stability.
