Naira Appreciates with ₦25.33 Gain Across Markets on Jan 30

The naira extended its rally for the fourth time in January, strengthening against the U.S. dollar on Friday, January 30, across both the parallel market and the Nigerian Foreign Exchange Market (NAFEM).

Currency dealers in Abuja told Economic Confidential that the naira traded at ₦1,425/$1 for buying and ₦1,435/$1 for selling, a sharp improvement from ₦1,460/$1 recorded on Thursday, representing a ₦25.33 gain.

At the official window, the naira also appreciated further at ₦1,386/$1, up from ₦1,396/$1 recorded the previous day, gaining ₦10.33 and extending its rally since Monday.

Analysts project further strengthening of the naira in 2026, with the currency expected to trade within a narrower and firmer range, supported by improving foreign exchange fundamentals, higher FX inflows, reduced speculative pressures, and enhanced price discovery.

They added that clearer pricing mechanisms and improved transparency have helped restore investor confidence, boost FX liquidity, and support naira stability.