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Naira holds steady against dollar despite mild fluctuations

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Naira

Naira shows mild fluctuations against the dollar in official and parallel markets, supported by CBN policies and foreign portfolio inflows

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The Naira recorded slight fluctuations but remained relatively stable against the US dollar across official and parallel markets, with a noticeable gap between the two trading segments.

Also read: Abiodun Akinlade @59: A Grassroots Humanitarian’s Agelong Selfless Service and Road To Oke-Mosan

Trading opened at N1,367.18 per dollar in the official market and weakened marginally to N1,372.21 early in the day, reflecting a 0.37 per cent depreciation.

Meanwhile, parallel market rates ranged between N1,395 and N1,410, depending on transaction volume in key cities such as Lagos and Abuja.

Analysts attribute the stability to sustained high interest rates and foreign portfolio inflows, which have boosted forex supply and helped limit sharp depreciation.

The Central Bank of Nigeria (CBN) has also intervened to ensure liquidity in the market and reduce speculative pressures.

Market observers note that the gap between the official and parallel markets has narrowed considerably.

CBN Governor Olayemi Cardoso reported that the premium between the two markets has fallen from about 50 per cent in 2022 to under 2 per cent on average in 2025, reflecting improved liquidity and investor confidence.

For traders and importers, the naira’s performance signals a steady supply of dollars, though analysts caution that exchange rates may adjust further as trading continues throughout the day across different financial centres.

Also read: Abiodun Akinlade @59: A Grassroots Humanitarian’s Agelong Selfless Service and Road To Oke-Mosan

The current trends indicate a balance between retail demand in the parallel market and institutional activity in the official window, underpinning the currency’s resilience amid ongoing economic pressures.

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Business

Wale Tinubu Says Nigeria’s Creativity Can Drive Exports

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Wale Tinubu

Wale Tinubu says Nigeria’s creativity can become a major export industry, creating jobs, attracting foreign exchange and building sustainable businesses (more…)

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Economy

FG Begins Fresh Tax Reform Review Ahead of 2027 Budget

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FG

Nigeria begins a tax reform review ahead of the 2027 Finance Bill, with officials targeting implementation gaps, simpler compliance and stronger investment (more…)

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Economy

Governor Dauda Lawal woos investors, highlights Zamfara’s economic opportunities at CEO Forum

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Zamfara State Governor, Dauda Lawal, has called for stronger collaboration between government, businesses and investors to unlock private capital and drive inclusive economic growth in the state.

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Lawal made the call while delivering a Special Policy Address at the 2026 CEO Forum organised by the Global Compact Network Nigeria in Lagos.

The forum, held under the theme “Financing a Dignified Future: Aligning Business Action, Policy and Capital,” brought together chief executives, senior government officials, industry leaders, diplomats, trade commissioners and international development partners.

Participants were drawn from key sectors of the economy, including oil and gas, energy, manufacturing, construction and infrastructure.

The governor spoke on the growing competition among states for increasingly selective private capital and the factors that could transform an economic opportunity into an investable proposition.

He explained how his administration was working to bridge the gap between available economic opportunities and investment, with emphasis on building investor confidence while ensuring that investments deliver meaningful outcomes for the people of Zamfara.

According to him, attracting investment requires more than identifying economic opportunities, but also creating the conditions, policies and partnerships capable of giving investors confidence to commit capital.

The forum provided a platform for business leaders, government officials and investors to examine ways of aligning business strategies, public policies and capital deployment to unlock productive investment.

Discussions also focused on identifying businesses, sectors and projects with strong potential but facing difficulties in accessing financing, as well as measures to make such opportunities more attractive to investors.

The organisers also introduced the concept of the “Dignity Dividend,” examining how investment-led growth could translate into better jobs, stronger businesses, increased productivity, local value creation and broader economic participation.

Another key component of the forum was the identification of actionable commitments and partnerships that participating institutions could advance over the next six to 12 months.

Notable speakers at the event included chief executives of First Bank Group, Access Bank, Flour Mills of Nigeria Plc, Nigeria Economic Summit Group, Nigerian Exchange Group, Chellarams Plc, SecureID Group and Greenwich Merchant Bank Plc, among others.

The organisers said the session would culminate in a live showcase of the Business Value and Sustainability Platform (BVSP), described as a standing coalition of business, capital and policy actors designed to sustain the dialogue.

The platform is also expected to contribute to shaping Nigeria’s private-sector engagement during the United Nations General Assembly High-Level Week.

The governor’s participation in the forum comes as Zamfara seeks to strengthen its economic base, attract productive investment and create opportunities that can support sustainable livelihoods and wider participation in the state’s economy.

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