Make we gist about wetin dey happen for naija money market. Naira don shine like star as e don climb reach N1,418.26 against dollar for official market on January 7, 2026! Dis one na big win for our local currency, e don show say reform work wey dem dey execute fit reason for am.
According to the Central Bank of Nigeria (CBN), naira don appreciate by 8.2 percent year-on-year. Na when you check am against N1,534.16 wey e be same date last year, you go see the konki wey dey happen. Every day, naira just dey use small gain dey ginger us—e don rise by 80 kobo from N1,419.06 yesterday!
For black market, wey na parallel market, naira no move much, e still dey stable for N1,490 per dollar. Dis one show say liquidity don improve and pressure don dey ease for market. E be like say the external reserves wey dey make CBN fit intervene don also dey jump: e don reach $45.62 billion! Na increase of 11.6 percent from $40.88 billion wey dey early 2025, no be small thing.
Analysts dey gree say with wetin we see now, CBN fit carry naira go N1,350 per dollar by first quarter of 2026 if this level of inflow continue. The foreign exchange market don enjoy plenty reforms since wey dem direct say all banks fit dey use Bloomberg BMatch system since December 2024, e fit help boost transparency and efficiency.
Olayemi Cardoso, wey be CBN governor, don talk say wetin dey happen no be small matter, as e don clear backlog wey dey affect naira before. As e talk, dem don narrow the gap between official and parallel rates to under 2 percent, from more than 60 percent wey dey previously! Now e be like say na foreign investors don regain hope for naira level, and e go fit help boost the economy.
Naija don decide say dem no go still dey depend on imported fuel, as Dangote refinery don dey expand, and dis one dey help increase local production. We dey expect say dis refinery fit help control naira price inside foreign market. As Dangote, BUA, and UBA big men dey talk say dem dey optimistic for naira’s future, we dey see say if dem fit maintain di reforms, naira fit go further even as we enter 2026.
But make we no forget say nobody fit predict wetin go happen for this money market, we go just dey pray say we continue dey see dis gain. Naira don surprise us for 2025, and e fit still dey surprise us for 2026. As we dey watch how dis economy dey move, make we continue to root for our currency. Abeg, my people, naira don rise, we fit jolly small now!
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