The Nigerian Naira improved against the US dollar at the parallel market during the Christmas celebration as businesses wind down on their demands for the greenback.

The local currency appreciated from N492 it traded on Wednesday to N485 on Friday.

The dollar scarcity continued to weigh on the Naira value as businesses and investors were unable to create enough jobs to meet the growing Nigeria population, leading to over 1.7 million jobs lost in the last 9 months, according to the National Bureau of Statistics.

Foreign exchange experts have said the continuous dip in the Naira value is as a result of limited forex liquidity in most segments of the foreign exchange market.

While a few analysts have projected an improvement in the nation economic situation in 2017, following OPEC successful production cut consensus.

A foreign exchange research analyst at Investors King, Samed Olukoya has said, “The nation may not fully benefit from the surge in global oil prices if it fails to curb the persistent attack on its oil facilities and get its output to 2.2mbpd as stipulated in its proposed 2017 budget.”

“Currently, oil output stood at 1.7mbpd after reaching as low as 1.4mbpd in August. The country has not produced at 2.2mbpd since the militant commence attacks on the nation oil facilities 7 months ago, this puts the feasibility of 2.2mbpd in 2017 in question,” he added.

http://investorsking.com/naira-improves-n485-us-dollar/

I am not understanding

Still very poor.

What a great improvement.

Buhari don spoil this country, walahi I am scared of 2017

Welcome to Naija....the country who's future ain't guaranteed nor ascertained for d incoming generation.....

This is a nice improvement.

I hope it meets the target of N500/$ by 31st Dec 2016.

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buhari sef

Do you call this improvement?

the destiny of this country died the day jonathan left power...

We are now celebrating mediocrity all because of some group of people who thinks that a septuagenarian who never improved educationally or other wise 30years after leaving power will turn Nigeria into an eldorado. How did we even arrived here

Improvement indeed.... On and off like Xmas light

Dollar to naira is now $1= #485. And you people think it is worthy of funfare and celebration.
$1 = #216 is no more okay for APC.

We continue to grow as the dollar grows against the naira..... Cocoa money paid a lot this year

Olakunle007:
.

chairman see as u dey book space? abi u be BOOKER T

LOL

lol @improvement... chai
pikin wey dey carry 36 out of 36 for class
come take 35 out of 36, shey na 'improves' too?

lol.. chai

Naira is just so unstable.

hmmmmm, E go beter

Nice

we will surely get dere, fingers crossed.

OZAOEKPE:
the destiny of this country died the day jonathan left power...

what if he had remained as the president?

"Improves"... when would it be 1naira to 1 dollar pls

Nice one... in order news.. nairaland. Beach party holding january 2 is going to be fun and intresting don't miss it guys.. for more information check my signature.. or pm.

One good news atleast

@ op, is this how you improved while in school?.

EastGold:
What a great improvement.

Buhari don spoil this country, walahi I am scared of 2017

stay in 2016 nahhh lol

I hear improvement nko
We r hoping for a better tomorrow

Good one. It can still do better

Still nt good @ all, last year a dollar is #200 or #250 why NW, Mercy be upon Nigeria

philfrey08:
"Improves"... when would it be 1naira to 1 dollar pls

when u start thinking of how to export locally made good