₦airaland Forum

The naira has appreciated massively in both the official and parallel markets as the market resumes trading after the independence day celebration on Wednesday, October 1.
The latest closing rate of N1,464 achieved on Thursday, October 2 is the highest level on Central Bank of Nigeria record since 2024.

Naira has appreciated massively in both official, unofficial markets. Photo: Bloomberg
Thursday’s rate represents a 0.88% or N13.15 appreciation of the naira compared with Tuesday’s rate of N1,478.

Naira vs pound, euro

Naira exchange rate against US dollar rises to highest level in 2025.

The Nigerian currency also appreciated against the British pound, strengthening by N23.50 to trade at N1,956.42/£1, compared with N1,979.92/£1 in the previous session.

While against the euro, it advanced by N22.56, closing at N1,706.99/€1 from N1,729.55/€1.
At Guaranty Trust Bank (GTBank), one of CBN’s authorised dealers, the naira closed at N1,475/$1, firmer than the N1,485/$1 rate posted a day earlier.

LagosOrigin:
Yes
Only on the pages of Lagos Ibadan expressway Newspapers

SmartPolician:
N1464 is not massive appreciation. I want to see Naira drop to #100 to one dollar. That was what APC's Buhari promised us.

Predictor3:
Show us where they promised you that?

SmartPolician:
I'm even being modest. Buhari promised $1 = #1

https://www.google.com/amp/s/www.vanguardngr.com/2015/03/ill-make-naira-equal-in-value-to-dollar-says-buhari/amp/

LagosOrigin:
Yes
Only on the pages of Lagos Ibadan expressway Newspapers

magoo10:
Seems like massive has another meaning aside the one we see in the dictionary.

Putindbutt:
To the disappointment of the " finishing specialist l" and his bitter followers. I remember one twerking hijabi Obidient that was telling you to keep your dollars because it would soon get to 2,000, how market?

Obagreatdatoye:
Until dollar return to #500/1....I won't still take this govt serious

SmartPolician:
N1464 is not massive appreciation. I want to see Naira drop to #100 to one dollar. That was what APC's Buhari promised us.

givedemwotowoto:
Reno and Tinubu supporters told people to sell off their USD when it was around 1,400 or so because Dangote Refinery was going to crash it to 1,000. How far?

Putindbutt:
Atleast, they are being sensible because naira will continue to appreciate and will still hover further below what it is today, how about the insensible bitter people who were praying it goes up to 2,000, are you still praying

givedemwotowoto:
Obidients shouldn't be your problem. Your problem should be those with power to make the naira appreciate, who sent it from the official price of less than 500, to over 1,400. They are the real problems

Putindbutt:
Because you finishing specialists do not have common understanding that when it was at 700, it was a fake value, not the true value.. too much chochocho will not help you learn and grow.

Obagreatdatoye:
Until dollar return to #500/1....I won't still take this govt serious

zero8zero:
N13 gain in a day is massive.

Obagreatdatoye:
Until dollar return to #500/1....I won't still take this govt serious

helinues:
Those people don't know jack about economy but just like to be arguing blindly

zero8zero:
N13 gain in a day is massive.

Obagreatdatoye:
Until dollar return to #500/1....I won't still take this govt serious

givedemwotowoto:
Obidients shouldn't be your problem. Your problem should be those with power to make the naira appreciate, who sent it from the official price of less than 500, to over 1,400. They are the real problems

magoo10:
How much did they meet the dollar and how much is it today.stop being shallow minded

grandstar:
Why not try and brush up your economics rather simply criticise? Okonjo Iweala, the World Banks and several economists have praised the reforms. Why not find out why they did so?

Tinubu inherited an economy in tatters. Debt servicing consumed 97% of government revenue by 2023, up from 26% when Buhari took office.

There was only $4bn in the net foreign reserves, which refers to the forex the central bank actually has access to, and not the gross figure usually presented. This couldn't even purchase 1 month worth of goods and services from overseas, rather than the minimum standard of 4 months worth of imports. Worse, it was owing buyers of forex $7bn.

With the present economic reforms, the amount spent on debt servicing is now less than 50% of GDP. The net foreign reserves has grown to over $42bn, enough to cover 8 months worth of imports.

So, things are looking up. The ending of the fuel subsidy and the floatation of the Naira were the best things to have ever happened to the country. On some foreign websites, they display the Naira equivalent.

Kushites:
Are you a kid?

Do you think currency value is something a government can set?

Look, here’s how it works. The Naira is at its natural level now, based on the laws of demand for Naira.

If Nigerians demand MORE Nigerian goods and services, the Naira value rises, because people demand more Naira currency.

The more Nigerians demand imports, the more Naira value falls and Dollar value rises.

The ONLY way to override this basic economic logic is for the FG to borrow BILLIONS OF DOLLARS EACH YEAR to shore up the Naira value artificially.

That’s what what we’ve been doing all along, in addition to borrowing $10 billion a year for fuel subsidies.

That’s why prices were “lower” then, and Naira value “higher”.

But it was all artificial.

Tinubu has ended all that. The country will develop faster because of these moves.

Your job as a Nigerian is to BUY NIGERIAN if you want Naira to rise.

It’s not by government magic.

If you were dreaming of buying your next Toyota jeep, DUMP the idea and buy an INNOSON jeep. Or NORD.

That’s how you raise the Naira.