Today be Thursday, naira don show small improvement again as e dey make small gains against dollar for official foreign exchange (FX) market. According to Central Bank of Nigeria (CBN) report, naira don climb 0.3 percent, na im make dollar now cost N1,466.65, down from N1,470.62 wey e been cost for Wednesday.
This slight rise no be magic o. Na improved liquidity and positive vibes from CBN wey dey drive this naira hustle. E be like say money dey flow in well-well again, thanks to oil earnings, diaspora remittances, and some foreign portfolio investments wey dey come in thick.
But make we no forget say for the parallel market (wey everybody sabi as black market), naira no dey smile again. E don drop 0.5 percent to end at N1,492 per dollar, compared to N1,485 wey e dey be on Wednesday. Traders talk say na demand wey plenty for cash from people wey dey buy goods and importers dey cause the drop.
As at October 7, 2025, Nigeria’s external reserves don blow up reach $42.57 billion, showing say wetin CBN dey do dey work somehow. World Bank sef don yan say CBN don sabi how to use net positive inflows to build de reserves. E come say e dey reflect how exchanges dey perform in the market and say this current exchange rate dey help their external position steady.
On top this matter, dem dey chop talk say if naira wan really show strength for long run, we go need more long-term inflows. This na oil and remittances, plus make we dey export non-oil goods well, so that our economic future no go dey shaky.
Meanwhile, CBN don dey reason say dem go need to clarify their exchange rate moves to the public. Dem dey talk say if dem fit show wetin dem dey plan for the FX market, e go help everybody know wetin to expect and wetin to dey do when wahala dey come, like for last year April.
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