Naira Projected To Drop To N1,804 Per Dollar In 2025

The Nigerian Naira is expected to depreciate to a fair value of N1,804 per dollar at the official market in 2025.

This forecast is detailed in a recent report by Afrinvest titled “Beyond The Rhetorics: Transforming Reforms to Tangibles.”

The projection is based on the assumption that the Central Bank of Nigeria (CBN) may face challenges in meeting foreign exchange demands and managing the anticipated volatility in the exchange rate. The report states, “We anticipate that exchange rate volatility would persist in 2025, albeit at a modest pace.” The analysis suggests that the CBN might struggle to consistently meet market demands, as the recent increase in foreign exchange reserves was mainly due to non-sustainable inflows with strict usage conditions.

This outlook contrasts with the N1,500 per dollar benchmark set in the 2025 budget, which has been presented to the National Assembly.

As of recent reports, the Naira closed at N1,534 per dollar in the official market and N1,650 in the black market. While fluctuations in the Naira have been common throughout 2024, the introduction of the Electronic Foreign Exchange Matching System (EFEMS) in October has brought some relative stability.

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