The Nigerian naira has strengthened by 6.26 percent against the United States dollar over the past year, according to data released by the Central Bank of Nigeria. The gain was recorded between November 2025 and November 2026, marking a notable improvement in the currency’s exchange rate.
During the same period, Nigeria’s foreign‑exchange reserves have remained above the $55 billion threshold, providing a cushion for the country’s external payments and supporting the stability of the naira.
Analysts note that the currency’s appreciation reflects a combination of tighter monetary policy and a gradual rebound in commodity prices, which have helped to support the country’s export earnings.
With the naira’s stronger position, Nigerian importers may benefit from lower costs for foreign goods, while exporters could see increased competitiveness in international markets.
These developments come as Nigeria continues to navigate a complex economic environment, balancing growth objectives with the need to maintain macro‑economic stability.
<small>Source: Punch Nigeria — read the original story there.</small>