Na better news just land for our economic table as the Central Bank of Nigeria (CBN) don bring new measures wey dey boost dollar liquidity for market. After months of naira shaking like dance step for party, e dey show strong signs of stability. Thanks to CBN’s fresh reforms, naira don appreciate by 1.1% last week, with exchange rate closing at N1,520 to $1. How we take reach here? Make we gist.
As CBN injects $50 million wey bring foreign portfolio investment from Open Market Operation auctions, naira don begin to breathe properly. In first quarter of 2025 alone, capital importation don hit $5.64 billion. That one na serious business! From this figure, banking sector alone carry $3.1 billion, making am the champion for naira recovery. Naija economy dey waka small-small back to normal after months of turbulence (who go fit forget that wahala?).
But before you pop champagne, make we gist about wetin still dey happen. Foreign Direct Investment (FDI) don drop by 70.06% quarter-on-quarter, making only N126.29 million. Na those kinds investment wey sabi build factories and create jobs. We gatz pay attention to this one because if we no level up for real sectors, na just quick money we dey chase.
Even though the naira dey recover and reserves don grow to $41 billion (first time wey this level don happen since 2021), e dey important we no forget the global factors like rising interest rates for advanced countries fit still shake our house. We dey enjoy this temporary relief, but long-term stability for naira mean say we gatz make solid investments wey fit last.
Now, CBN don talk say dem go continue to work on improving diaspora remittances and allow more international money transfer operators to make dollar access easier. E clear say dem dey try keep the naira strong and fight inflation wey dey smile finish July at 21.88%.
Nigeria gats step up activity for oil production and explore non-oil earning to make sure that ones wey just dey bring money no go be our only salvation. If we no balance, we fit find ourselves back for the same wahala wey come from last time. All na strategies matter, and as CBN dey push change, we go need follow up with viable plans to keep our economy going.
Conclusion: Currently, naira dey smile well-well as new liquidity dey flow, but let’s keep our eyes open because na only robust strategies go carry us through this market. We fit still maintain our naira more in the coming months, but no be magic. As the folks dey say, ‘No money no tiff’ – we gatz hustle for sustainable growth.
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