The naira on Tuesday surged to a record high of ₦1,372.91 per dollar in the official foreign exchange (FX) market, marking a significant milestone in Nigeria’s currency trajectory.
Nigeria’s economy expanded for the fourteenth consecutive month in January 2026 as the Composite Purchasing Managers’ Index (PMI) stood at 55.7 points, according to the Central Bank of Nigeria (CBN).
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Bayo Ojulari, has admitted that Nigeria’s state-owned refineries were running at a “monumental loss,” forcing his team to halt operations to stop further financial damage.
The World Bank has described Nigeria as a growing global reference point for steady and credible economic reform leadership, citing the country’s consistency and resilience in implementing difficult but necessary policy changes.
