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Naira Rebounds to N1,382.63 Amid Improved Liquidity

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Naira

Nigeria’s naira strengthened to N1,382.63 per dollar on improved liquidity and rising foreign exchange inflows, despite declining external reserves

Nigeria’s naira showed renewed strength on Tuesday, March 24, 2026, closing at N1,382.63 per dollar at the Nigerian Foreign Exchange Market (NFEM), up from N1,388.38 the previous day.

Also read: FG to Deploy Youths, Retired Soldiers in Nationwide Demining Operations

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The rebound reflects a 0.42% increase (N5.75) and comes amid improved market liquidity and strong foreign exchange inflows, signalling temporary easing of pressure on the official FX window.

In the parallel market, the naira remained stable at N1,415 per dollar, though the gap between official and black market rates widened to N33 from N27, indicating lingering inefficiencies.

Data from FMDQ Group showed foreign exchange inflows rose 45% month-on-month to $4.4 billion in February, driven largely by foreign portfolio investors attracted to Nigeria’s high-yield environment.

Despite this momentum, Nigeria’s external reserves fell for the sixth straight session to $49.60 billion as of March 23, 2026, down 0.84% from earlier levels.

However, analysts highlight the strength of Nigeria’s net usable reserves, which surged from $3.99 billion at the end of 2023 to $34.80 billion by late 2025, providing a stronger buffer for FX intervention.

Gross reserves remain above $45 billion, covering nearly ten months of imports.

Structural reforms—including FX market unification, subsidy removal, legacy obligation settlements, and tighter monetary policy—have improved liquidity, encouraged inflows, and strengthened policy credibility.

The Central Bank’s increased gold reserves, rising from $2.6 billion in late 2025 to $3.5 billion in early 2026, have further diversified reserves and bolstered confidence in the naira.

Also read: FG to Deploy Youths, Retired Soldiers in Nationwide Demining Operations

In February 2026, the naira appreciated by 4.13%, demonstrating resilience despite efforts by the Central Bank of Nigeria to slow its momentum through strategic dollar purchases.

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Lawal Strengthens Zamfara Judiciary With ₦600m Support

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The governor distributed official vehicles to judicial officers and said about 90 per cent of court rehabilitation projects across the state had been completed

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Jubril Tinubu Links Strong Corporate Governance to African Growth

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The Oando chief says transparency and stronger institutions are essential for African businesses seeking long-term international capital

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Governor Dauda Lawal Join VP Shettima’s Delegation to Benin Republic, Seeks Industrial Model to Boost Zamfara’s Agric Zones

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Zamfara State Governor Dauda Lawal has described the Glo-Djigbé Industrial Zone (GDIZ) as a practical blueprint for transforming Zamfara state’s agricultural sector, as he joined Vice President of Nigeria, Senator Kashim Shettima and five other governors on a working visit to the Benin Republic industrial hub on Friday.

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The delegation toured the 1,640-hectare public-private industrial platform, inspecting integrated textile and agro-processing facilities where locally produced cotton is converted into yarn, fabric and finished garments while cashew and soybean are processed for domestic and export markets. GDIZ, developed by the Beninese government and ARISE Integrated Industrial Platforms, has created more than 25,000 jobs since production began in 2021.

For Governor Lawal, who presides over an agrarian state with vast arable land and a strong comparative advantage in crop production, the visit presented an opportunity to draw direct lessons for Zamfara’s agricultural transformation agenda.

“Zamfara holds a strong comparative advantage in agriculture. We grow all crops in the state, we are not limited to soybeans. We have the land and it is fertile,” Governor Lawal had told global investors at the Africa Investment Forum in Morocco last November, where he signed a strategic Memorandum of Understanding with the Ministry of Finance Incorporated (MOFI) to drive large-scale agricultural transformation under the INTEGRANIUM Initiative.

The GDIZ visit is aimed at strengthening the implementation of Nigeria’s Special Agro-Industrial Processing Zones Programme, drawing practical lessons from Benin’s approach to agricultural value addition, industrial infrastructure, investment mobilisation and export-oriented production. Particular attention was given to the textile park’s integrated production system covering cotton spinning, weaving, fabric processing and garment manufacturing. Governor Lawal believes that Zamfara State can benefit from the $370 billion worth of global cotton valuation by ensuring Zamfara grows more cotton and can also lead the charge by reviving moribund textile manufacturing hubs and value chain which could generate millions of jobs, expand non-oil exports and stimulate economic activities.

Governor Lawal’s participation in the delegation aligns with Zamfara’s recently launched 10-year Development Plan (2025–2034), which envisions the state becoming “a benchmark for transformative economic growth, not merely for Nigeria, but the continent of Africa”. The plan prioritises maximising Zamfara’s agricultural and natural resource strengths through partnerships, mechanised farming, agro-processing and value chains to create jobs, improve food security and reduce poverty-driven insecurity.

Governor Lawal was also in company of other state Governors like; Hope Uzodimma (Imo), Caleb Mutfwang (Plateau), AbdulRahman AbdulRazaq (Kwara), Dikko Radda (Katsina), and Umar Namadi (Jigawa). The visit is expected to inform the development of garment-training facilities and dedicated processing infrastructure near agricultural production communities across Nigeria.

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