You don’t need a degree in economics to understand Nigeria’s inflation crisis. A simple visit to any local market tells the story more clearly than charts or policy papers ever could.
The Nigerian naira strengthened against the euro during Thursday’s trading session, closing at N1,606/€1, up from Wednesday’s N1,644/€1, according to Central Bank of Nigeria (CBN) data.
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.
Naira Hits N1,396.99/$, Breaks N1,400 Barrier
Nigeria’s naira has traded below the N1,400/$1 level on the official market for the first time in over a year, marking a notable psychological and market milestone for the currency.
Data from the Central Bank of Nigeria show that the...
Since the unification of foreign exchange in 2023, the naira has been on a journey to find its footing. In 2025, its performance has been mixed, with distinct phases of depreciation, stabilisation, and eventual appreciation at different points.
