Naira Don Shine Like Star, Na $1 Dey Cost N1,480!

Abuja, Nigeria – E be like say naira wan show sey e get power! As of Friday, September 26, 2025, naira don close week for the official foreign exchange market at N1,480.65 per dollar. Na this one be the highest e don reach for dis year, wey dem dey call year-to-date. Last time naira get this kind strong level na for January 31, when e close at N1,478.22 per dollar (who say naira no sabi flex?).

According to the Central Bank of Nigeria (CBN) report, naira don appreciate by 0.5% for dat same day. Dollar dey cost N1,480.65, meaning say naira don gain N7.60 from the previous day wey dollar dey cost N1,488.25. As week don waka, naira come dey stronger by N7.24, and from Monday wey dollar dey cost N1,488.60, naira don gain N7.95 or 0.54% (talk true, this na good news for all of us wey dey follow exchange rate).

For parallel market, sometimes wey people dey carry their dollar come, naira don climb reach N1,490 per dollar, wetin be 15-month high. This one na the level wey e don reach since June 2024, when e also dey trade for N1,490. When you check well, naira don gain N25 or 1.67% when e compare with Tuesday wey e dey cost N1,515 (one wahala wey don turn sweet news).

CBN data show sey external reserves dey rise too – as of September 25, 2025, dem stand at $42.2 billion. During the recent Monetary Policy Committee (MPC) meeting, Governor Olayemi Cardoso talk say gross external reserves don rise to $43.05 billion, compared with $40.51 billion wey e dey at July end. This one mean sey Nigeria dey get import cover of 8.28 months (Na, naira dey flex for oga’s house!).

For September 22-23, 2025, dem cut Monetary Policy Rate (MPR) from 27.50% to 27.00%. This na the first rate cut in over two years, since dem dey try to control inflation and stabilize naira. Analysts from Comercio Partners talk sey na just small impact dey expected from dis cut, with no wahala inside the market soon. Dem still yarn say naira don dey trade for N1,500 to N1,600 per dollar, thanks to CBN interventions, stronger external reserves, and the way dem dey monitor FX flows closely (if dem fit balance am like that, e go sweet pass palm wine!).

Also, CBN sabi for the FX market, dem don sell $574 million to stabilise liquidity for August, this one don make bigger sense considering sey inflows dey reduce. Total FX inflows don fall by 12% month-on-month to $3.4 billion in August, down from $3.8 billion wey e dey July (na wah, but we go manage am!).

Specialists dey talk sey na foreign portfolio inflows (FPIs) still dey lead the game wey dey bring in dollar, accounting for about 86% of total foreign-sourced inflows. But dis year sef, wey we don need to balance everything, dem don see sey we gatz diversify our income. If dem fit just continue to get good news from monitory policy and oil earnings, naira fit turn super star (who no like good thing?).