Iexclusivenews: Naira gains momentum as reserves climb, surge to $46 billion, and reforms deepen ABUJA, (iexclusivenews)-Nigeria’s naira strengthened to N1,394 per dollar on January 28, 2026, marking its strongest level since May 2024.
The gain occurred in the official foreign exchange market, driven by rising reserves, policy reforms, and improved dollar liquidity.
According to market data, the naira closed at N1,394, improving from N1,409.50 the previous day.
Intraday trading showed a low of N1,392 and an average rate of N1,402, signaling sustained demand support.
The rally follows a steady appreciation from about N1,421 earlier in January.
Analysts link the momentum to Nigeria’s foreign reserves reaching $46 billion, the highest level in eight years.
A Lagos-based currency analyst said the rebound reflects stronger fundamentals.
“Reserve growth gives the central bank more firepower to stabilize supply and manage volatility,” he explained.
Policy reforms have also boosted confidence among investors and exporters.
Recent measures improved transparency, widened participation, and reduced speculative pressure across official trading windows.
However, optimism remains cautious as parallel market rates stay higher.
On the same day, the naira traded between N1,460 and N1,490 per dollar on the street market.
An Abuja-based import trader questioned the real-world impact of the gains.
“The rate looks better on paper, but prices of food and fuel remain painfully high,” she said.
Nigeria’s currency faced severe pressure in 2024, when rates briefly exceeded N1,600 per dollar.
The volatility followed forex backlogs, weak inflows, and policy uncertainty during earlier reforms.
Economists say narrowing the gap between official and parallel markets remains critical.
A financial economist at a private university noted that convergence builds trust and curbs arbitrage.
“Small moves matter, but consistency matters more for inflation and household welfare,” he added.
Data from the National Bureau of Statistics shows food inflation above 30 percent year-on-year.
As a result, many households have yet to feel relief from exchange-rate improvements.
nifemi25: Hi nairalanders. There is this my neighbor that I bought rabbit from since December, though I haven't carried them yet due to the fact that the welder working on my cage hasn't finished yet... Have been to his house like 4 times to check the rabbit .. initial he wanted to sell 2 rabbits for for 16 but when I wanted to pay he said they are now bigger cos he is feeding them well that he is no more selling the two for 16. She insisted on seeling 2 for 30k which we later bargain to 22k and I send money to him... Yesterday I went there to carry my rabbit which he said the rabbit is pregnant and she is not selling again... Please what can I do to collect my rabbit for him ?
No problem Op... Just collect your money and look for rabbits elsewhere to buy
Dede Mabiaku was a strong fella in Fella's band... When that man was younger, he so much idolized Fela that he walked a Nigerian Idol constant for not representing Fela's style in a respectable manner.
sportblitsX: Real Madrid manager Alvaro Arbeloa has reportedly met with Trent Alexander-Arnold to discuss his future at the club.
According to reports, Arbeloa advised the Liverpool right-back that he is not part of Real Madrid’s long-term plans, citing concerns over his offensive and defensive contributions.
The club may now look to restructure their squad, prompting Alexander-Arnold to explore opportunities elsewhere.
5G network Dual sim Wi-Fi enabled Quad Core processor Android 15 OS 18GB+512GB memory Keyboard pouch Mouse Super bright camera Very large battery capacity Different colors available And many more
OriOko88: Does anyone know where I can auction this big 🦉 owl? Today's early morning rain made it lose its bearing,so it was found hibernating at one corner of my compound.
I attempted to handle it but it fought back aggressively,so I used a basket to capture it.
What specie of owl is this? It's a big one. Can anyone buy it?
Please, let the poor bird take it's flight at night in peace...
Hehehe! Well, they can have the consolation award even though the world knows that from all the drama that came to play, the Morrocans were far from been fair in their play on and off the pitch!!!
This is a conc yoruba curse accompanied by maternal congugal swesrings backed by Islamic religious ascertions!!! This is more than any form traditional incartation at a deity shrine or spell cast by a Harry Portal like witch!!!
No matter the provocation...for no reason whatsoever, should a woman curse her own child!!!
Na Kolu wan com help bro Portable las las!!!... By the way, how come portable is unable to raise 7m for his own bail? And why is bail fee up to 7m? I thought bail was free!!!
Importers will have no choice but to align eventually... We must support local production that fuels our economy and provides employment opportunities.
We can only hope Dangote will not turn up price on us later on.
Nahimm: I turned 29 about a month ago. I met my wife in the first quarter of 2024. We dated for a short period—about three months—before she became pregnant.
At that time, I was earning very little and living in a face-me-I-slap-you single-room apartment. My wife, on the other hand, was working, had a side hustle, and was also in her final year of a part-time academic program. She earned more than I did then. I was almost done with my own part-time program and was hopeful that completing it would help me secure a better job.
My wife is from the South-West, while I am from the Middle Belt. I loved her deeply and did not want anything to make her unhappy. I agreed to marry her, but I was not financially prepared for the traditional marriage list her father gave me. Because of the pregnancy and the need to be married before the baby was born, we opted for a court wedding.
After the baby was born, we moved into a one-room self-contained apartment. God helped me secure a new job, and my income improved, although it is still not enough to say I have full financial stability.
After childbirth, I began noticing many issues. I cannot say they were unusual because we had never lived together before—she only used to visit me occasionally. My wife comes from a family where her parents are separated. When we started living together, we experienced frequent misunderstandings. She was often unhappy, easily provoked, and at times verbally insulting toward me. I also noticed challenges with hygiene and other domestic concerns.
People around me advised that these behaviors might be related to postpartum changes, so I tried to be patient. At the time, I worked from home, assisted with household chores, and made conscious efforts to make her comfortable and happy, but it remained difficult.
Whenever we had issues, she would invite her mother and sometimes her mother’s friends into our home. They would speak in her language, which I do not fully understand, and she would describe me as wicked and complain about finances. At that period, I was indeed struggling financially. I had debts from securing the apartment, which cost close to two million naira, and although she also supported during that process, the financial pressure was intense.
My wife does not talk much, but when she does, her words are often very hurtful. She has made statements such as threatening to curse the water and salt she used to cook for me and calling me broke and proud. I overlooked many of these comments, believing they were influenced by postpartum stress.
One pattern that concerned me over time was laundry. She would not wash my clothes. Personally, I do not see washing my own clothes as a major issue, especially since we do not yet have a washing machine and I have time to do laundry. However, when I wash, I wash everyone’s clothes—hers, mine, and the baby’s, including her underwear. Over time, it became concerning that even when she did laundry, she would not wash my clothes unless I complained.
Financially, I give her close to ₦100,000 monthly, which is about 60% of my salary, to cover feeding and the baby’s needs. I also take care of other household bills. Hospital expenses are covered under my HMO.
Despite this, she often makes it seem as though the money I give her is insufficient and that she spends far more.
I have tried to communicate constructively. For example, I suggested that she buy food items in bulk instead of in small quantities, but she does not take this advice.
One issue that escalated matters significantly was intimacy. She often reacts aggressively when I touch her at night. I have tried explaining that I understand intimacy cannot happen all the time, but when she declines, I expect politeness rather than kicking, shouting, or asking me to leave her alone. On the rare occasions when she responds more calmly, she gives reasons such as needing to wake up early for business or to prepare the baby.
She sees her mother almost every day and regularly shares details of what happens in our home with her. Last month, following a serious disagreement, she left our home with the baby and went to stay at her mother’s house. During efforts to resolve the issue, her mother told me several things I had not previously known, particularly complaints about the amount of money I give my wife. I eventually settled the issue by stretching myself financially to satisfy her family.
Despite my efforts, my wife did not return immediately. She stayed at her mother’s house for approximately one month and returned only when she decided to do so.
My own mother, who had not yet met my wife, initially encouraged me to be patient and make peace. She supported the steps I took to resolve the issue so my wife could return home. However, after I had done everything requested and my wife still delayed her return, my mother became more protective of me. She suggested that I relocate and inform my wife of my decision—if she agrees, we relocate together; if not, I should proceed alone.
My mother’s concern is that this pattern might repeat in the future, possibly many years later, where my wife might leave with the children, disrupting my life and delaying my progress.
I have not acted on my mother’s suggestion. My wife has now returned, and things appear slightly better, but her manner of communication has not changed significantly. She remains very defensive and does not welcome open, healthy conversations. When I feel overwhelmed, I go silent to avoid becoming aggressive. She also tends to withdraw and remain quiet.
At present, I am focusing on improving myself, particularly financially.
At some point, I considered divorce and discussed it with her. However, our nine-month-old baby is a major concern for me, and I genuinely want a stable and healthy home for my family.
I would appreciate guidance on how to handle this situation.
I am glad to know you're investing in yourself to get better financially. I pray fortune smiles on you soon. Please, her patient in your marriage and at the same time, do not be foolish to the point where you lose been the head of your home.
What do you guys thinks about these two cars as a first time buyer and driver.
The first is Peugeot 307 and the second is Toyota Corolla Obama.
Which would you advise I go for as Nigerian used and why?
My mind is tilted more to the Toyota Obama but I hear most of them usually develop electrical issue due to them being converted from right to left hand driving when they come in Nigeria.
But the toyota corolla that was not converted and have peace!
Foreign Affairs › Re: US Officials Meet Canadian Separatists Pushing For Alberta Secession: Report by dawnomike(m): 10:15am On Jan 30
