₦airaland Forum

The Naira closed the trading week on Friday 31 October 2025 at ₦1,421.73 to the U.S. dollar, at the official Investors and Exporters (I&E) window.

This is its highest close since early February 2025, and a significant turnaround from the currency’s instability earlier this year.

Central Bank of Nigeria (CBN) records show that the naira opened at ₦1,452.79 on Monday 27 October 2025, dipped slightly to ₦1,448.20 on Tuesday, rose to ₦1,444.42 Wednesday and peaked at ₦1,421.73 on Friday.

This also mirrors gains in the parallel market, where the lcurrency traded between ₦1,479 and ₦1,490 per dollar, from more than ₦1,500 a fortnight ago.

Analysts have attributed the sustained gains in the value of the naira to the following factors:

* Continued rise in Nigeria’s external reserves which have now surpassed $43 billion.
* The recent surge in Foreign Direct Investment (FDI) by about $272 million.
* “Dollar hoarders” starting to shift into panic mode and changing them back into naira.
* Improved market liquidity.
* Renewed confidence in the Nigerian economy.

SOURCE
https://x.com/NaijaphiliaBlog/status/1984395130644705282

Very good. We are expecting the naira to appreciate more. It should get to 1,000 naira before the end of December

God bless Federal Republic of Nigeria

That's the good story we want to be hearing about Nigeria now.

Tinubu is the best president we've had since Yaradua.

hassinho707:
Very good. We are expecting the naira to appreciate more. It should get to 1,000 naira before the end of December

That's unrealistic, nor is it necessarily a good thing. Such super fast appreciation may create new pockets of instability in the economy.

Naira reaching N1000 by December will be a nightmare for the CBN and the Ministry of Finance. Both will prefer a slow and steady rise.

Managing an economy is a delicate game a chess. For every positive development in one part of the economy (e.g currency) there is a potential negative effect elsewhere in the economy.

So while naira reaching N1000 by December looks good on paper, it will reverse most of the gains we have made in the last 18 months when we started exporting more and importing less. It will also reverse the ongoing efforts to produce more of what we need here in Nigeria.

If Naira hits N1000 by December, imported goods will become significantly cheaper next year, and the country will go back to importing more of everything. Yes, the man on the street will be happier but, long term, the economy will become worse and more import-dependent.

The biggest beneficiary of a rapid, uncontrolled rise of the naira will be China where we import most things from. Over time, our own local industries will die a slow death. We will enjoy cheaper goods prices but our future children will have no jobs as our industries will be hollowed out over time. The dominant economic activity then will be trading - not of goods manufactured here, but of goods from China. We will basically become an economic colony of China

So,it is better for naira appreciation to happen at a slow and steady pace to give the Ministry of Finance and the CBN time to make necessary policy changes.

I suspect the CBN will probably prefer naira not to reach N1000 to a dollar until May be late 2026, though I don't think the CBN will be able to fully control the timing of naira's appreciation. Somewhere around N1350 and N1400 by December will be my idea of steady as you go.

Be rest assured that the CBN will be buying dollars furiously if its data shows an impending destabilising naira gains. Buying the dollar effectively means supporting the dollar against the naira in order to moderate naira gains. That's similar to what happened a few weeks ago when the whole of South Africa supported and prayed for Nigeria to beat Benin Republic in a world cup qualifying match. There are times when the best option is to support your enemy if doing so will boost your own situation.

So don't be surprised by the idea of the CBN supporting the dollar against the naira. That is part of the job of the CBN. Support the naira if there is a need to, and buy (support) the dollar (enemy) if there is a need to.

Razzness:
Tinubu is the best president we've had since Yaradua.

Make I nor nod you o, how much was naira to dollar before he entered power.

DeLaRue:
That's unrealistic.

I am not even sure the CBN will want the naira to increase in value that fast.

Why
did you think so?; don't forget dangote refinary is now or board

lordprogress:
Make I nor nod you o, how much was naira to dollar before he entered power.

this boring poem again. SMH

lordprogress:
Make I nor nod you o, how much was naira to dollar before he entered power.

Pls can you swear you are not aware is not subsidize?

Paramount01:
Pls can you swear you are not aware is not subsidize?

What you're asking is not possible again in economics.

It is like asking a woman to go back to what she looked like before she had babies.

The fundamentals have changed. You should have been complaining when Buhari was destroying the economy from 2015-2023.

That was when the destruction of the economy was going on.

Fellow freelancers how far? I exchanged at 1387 per dollar or so this morning from payoneer. Was soooooo angry.

last week was 1420.

the one before 1422.

Omo.

Bad belle people no v
No go like this news

Nigeria bless God.
God bless Nigeria.

Daybreak is now 4k.

How does this news change that??

lordprogress:
Make I nor nod you o, how much was naira to dollar before he entered power.

Don't you know the difference between then and now?

The Naira is now floating by itself. It's not backed by government intervention.
That's what a real market economy is supposed to look like, not that artificial method under the previous governments.

grandstar:
What you're asking is not possible again in economics.

It is like asking a woman to back to what she looked like before she had babies.

The fundamentals have changed. You should have been complaining when Buhari was destroying the economy from 2015-2023.

That was when the destruction of the economy was going on.

And Tinubu is presently fixing the economy by piling up debts without showing any fiscal discipline

hassinho707:
Very good. We are expecting the naira to appreciate more. It should get to 1,000 naira before the end of December

Please add in Jesus name Amen.

Paramount01:
Why
did you think so?; don't forget dangote refinary is now or board

I know.

It's just my suspicion that the CBN Governor and the Minister of Finance will be praying for a steady, and controlled increase in the value of the naira as opposed to a sudden exponential increase.

In motoring terms, N1000 by December is the equivalent of driving 240 km per hour on the Lagos-Ibadan express way.

It may feel and sound good, but most reasonable drivers don't do so, for a reason. They drive at a slower and steady pace so that if there is a need to, they have sufficient time to apply the brakes.

At 240 km per hour, you'll not have sufficient time to apply the breaks, and even if you do, it would likely be ineffective.

Economists generally prefer slow and steady.

YesDaddyTill203:
Don't you know the difference between then and now?

The Naira is now floating by itself. It's not backed by government intervention.
That's what a real market economy is supposed to look like, not that artificial method under the previous governments.

So now that the naira is floated (no artificial backup of naira) and subsidy is also removed, where is the proceeds going to that Tinubu keeps borrowing on monthly basis? The money Tinubu has borrowed within two years is more than what Buhari borrowed for eight years and it goes on. What's happening?

What was the rate two years ago?

How can same mind celebrate this badly depreciated Naira? And bound to depreciate further due to excessive borrowing

hassinho707:
Very good. We are expecting the naira to appreciate more. It should get to 1,000 naira before the end of December

Smile they have set benchmark 1600 it's going down

slyzy:
So now that the naira is floated (no artificial backup of naira) and subsidy is also removed, where is the proceeds going to that Tinubu keeps borrowing on monthly basis? The money Tinubu has borrowed within two years is more than what Buhari borrowed for eight years and it goes on. What's happening?

As the naira rises in value, the need for borrowing will reduce.

Economics is not a precise science where 1 + 1 always equal 2.

In a funny way, borrowing has indirectly actually contributed to the rise in the naira, though much less so than the reduction in imports.

1. Nigeria is able to borrow as much as it is doing because the international financial institutions rate Mr Tinubu's economic reforms. The World Bank is not a fool. They don't willingly lend to countries that will not be able to pay back. Under the last government, these institutions and other governments were reluctant to lend to Nigeria because they did not have confidence in our economy. Now they do, and contrary to the noise from opposition and part of the media, the current government has not borrowed too much, relative to the size of our economy.

2. By borrowing, at a cheap rate, this government has been able to reduce the depletion of the foreign reserves. This, in turn has given local and international investors some confidence in the naira. If the foreign reserve was $23 billion, instead of the current level of $43 billion, naira would be hovering around N1800 or worse and be very unstable. Would you have preferred that to the government borrowing?

3. If a country needs to rapidly develop its infrastructure,like Nigeria desperately needs to, and doesn't have the money, then borrowing for that purpose is not a bad thing. I don't know which part of the country you are based in, but in my part of the country there are several gigantic road construction going on. I hope it is the same where you are.

Yes, you're right to be concerned about politicians piling on debt for future generations. I am too. However, it does appear on balance that the current loans are for good purposes.

Loans are not always a bad thing.

Mr Dangote's companies probably take more loans than any other companies in Nigeria, but they are also the most prosperous.

With politicians, you can never be sure about their motives, but I have a good feeling about Mr Tinubu and I believe he is the most competent leader Nigeria has had in 65 years of independence. Not perfect, but very good, especially with the economy.

Instead of that infidel called Trump to
Focus on solving the problem of USD depreciation, he’s busy chasing shadows, designating another sovereign country ‘country of particular interest’.

slyzy:
And Tinubu is presently fixing the economy by piling up debts without showing any fiscal discipline

Tinubu matter tire me. I won't be surprised if the finance minister and the central bank governor don't support it, but they have to play along.

From his antecedents in Lagos state, he believes one should borrow a lot as long as it is sustainable. That is not wise. Always be prudent.

The only good thing this time is that it is far more sustainable than under Buhari, and the nation's economy is beginning to pick up.