Omo, na wetin be this now? Naira don dey waka backward again as e don weak against Dollar for the market. As we talk, for Thursday wey be January 22nd, 2026, Dollar don reach ₦1,490 to buy and ₦1,500 to sell for black market. Wetin dey happen na? Demand don scatter for ground as everybody dey rush for foreign currency, especially importers wey dey find way to settle bills.
Naija no dey disappoint, as the rate don change from the balance we dey see early for the week. E no go surprise anybody say demand dey rise sharply as January dey run to the finish line. You sabi am, companies dey settle their procurement plans for the year and families dey hustle money to send children go abroad. E be like say dollar dey popular pass Naira now. No be small wahala!
As per the updates from Bureau De Change operators for big cities like Lagos, Abuja, Port Harcourt, and Kano, na so dem dey report the movement. Na so demand dey take rise too, as families dey gather money to pay school fees, accommodation, and other wahala wey dem get for abroad. Dollar supply self don dey scarce as traders dey hold on to their dollar, waiting for more depreciation wey dem fit chop from market.
So, wetin dey cause all this wahala? Even the global mighty Dollar dey shine upon us, dey pressure emerging currencies like Naira to fall. E mean say as the price dey rise, e fit wahala our people. Economists don already dey talk say if Naira continue to suffer like this, e go affect how much people fit buy small things for market. The rate fit keep dey volatile as February dey approach. Analysts dey talk say e fit stay for between ₦1,485 to ₦1,515 for short term.
The situation important pass for Naira dey shake as we fit monitor the black market exchange today. Everybody dey expect if Naira go fit balance again or na wahala way dey follow. No forget say the Central Bank of Nigeria dey watch the market as e be the real boss for official rates. E be like say we go need dey hustling because dollar no be any body friend right now.
And as if that one no enough, Naira still dey challenge for other foreign exchanges like Pound Sterling and Euro. Omo, we don dey see say e no just dey give any respect. Na for the official market, Naira don dey go down by 53 Kobo to sell for N1,908.84 for Pound, and against Euro, e lose almost 83 Kobo to settle around N1,665.48. E be like say everywhere just dey scatter for foreign exchange right now.
Now, the solution we fit find for this wahala be say we all need to focus on restoring confidence and transparency for the forex market. Analysts dey point say if companies fit bring more forex into the country, the pressure go reduce small. As we dey move toward end of January, Naira get chance to catch up, but as e be now, e dey look like say e go need miracle to make am happen.
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