The naira ended the week on a robust word, closing at N1,417.95 per greenback within the official international change (FX) market, as Nigeria’s exterior reserves sustained their upward momentum.
Information from the Central Financial institution of Nigeria (CBN) confirmed that the native forex appreciated by 0.5 % week-on-week, gaining N6.55 because the greenback was quoted at N1,417.95 on the Nigerian International Trade Market (NFEM), in contrast with N1,424.50 recorded on Friday of the earlier week.
On a day-on-day foundation, the naira strengthened by N2.05 to shut at N1,417.95 on Friday, from N1,420.00 on the shut of buying and selling the previous day. Over the 5 buying and selling periods in the course of the week, the forex additionally recorded a cumulative acquire of 0.5 %, or N7.05, appreciating from N1,425.00 quoted on Monday on the NFEM.
Within the parallel market, also referred to as the black market, the naira remained secure, exchanging at N1,490 per greenback all through the week.
Learn additionally: NESG projects naira to trade at N1,480 with $52bn reserves
Nigeria’s exterior reserves continued their regular climb, rising by 0.4 % week-on-week to $45.86 billion as of Thursday, January 15, 2026, from $45.66 billion recorded on the corresponding day of the earlier week.
In its 2026 macroeconomic outlook report, the Nigerian Financial Summit Group (NESG) famous that international reserves had reached their highest stage in a number of years, whereas the unfold between the official and parallel market change charges narrowed considerably. In line with the report, this growth displays improved transparency within the international change market and stronger coverage credibility.
The NESG advisable the continuation of market liberalisation, supported by clear communication and clear international change auctions, coordinated with the banking sector and growth finance establishments, to assist stabilise the naira additional.
The report added that improved international change availability would assist maintain and broaden operations within the manufacturing sector, which depends closely on imported uncooked and intermediate inputs. It famous that extra secure FX circumstances would cut back forex volatility dangers and guarantee extra dependable entry to imported elements, thereby supporting manufacturing competitiveness and output development.
Nevertheless, the NESG cautioned that the international change beneficial properties recorded on the finish of 2025 relaxation on fragile inflows. A weaker world oil market in 2026, pushed by a projected provide surplus, may scale back export earnings and exert renewed stress on the naira, with knock-on results on the price of imported items and companies.
The apex financial institution, on its half, stated ongoing reforms are anticipated to assist maintain exchange-rate stability, whereas exterior reserves are projected to rise additional. In line with the CBN, reserves are forecast to extend to about $51.04 billion in 2026 from an estimated $45.01 billion in 2025, supported by easing FX pressures, larger oil earnings, sovereign bond issuance and elevated diaspora remittance inflows.
