Naira Poised for Further Gains as FX Market Stabilises, Analyst Says

LAGOS — The naira could strengthen further as Nigeria's foreign-exchange market shows signs of stabilising, analyst Ubah said in comments published by Arise News on Saturday. Ubah credited improved dollar liquidity and a narrowing gap between official and parallel-market rates for the expected appreciation.

The assessment follows weeks in which the currency has traded within a relatively steady band after the Central Bank of Nigeria's exchange-rate reforms, according to the report. The local unit has recovered from the record lows hit in 2024, the report noted. Ubah pointed to stronger foreign-exchange inflows from oil receipts and diaspora remittances as underlying support.

The analyst cautioned that external shocks — including volatile global oil prices and shifts in US interest rates — could still pressure the naira. The comments are a forward-looking forecast, not a reported market figure, and carry **medium confidence**; the cited stabilisation trend is based on observed trading, but Source Reporters could not independently verify specific exchange-rate levels and recommends confirmation against Central Bank of Nigeria official closing data before publication.

For Nigeria, a stronger and steadier naira would help curb imported inflation and lower the naira cost of servicing external debt.

Source: Arise News, 18 July 2026.

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**FAQ**

*Why does a stable naira matter for Nigerians?* A steadier naira reduces the cost of imports and eases inflation pressure on consumer goods and fuel.

*What drives the naira's value?* Key drivers are dollar supply, oil export revenue, diaspora remittances and Central Bank of Nigeria policy settings.