Business
Naira Strengthens Against Dollar for Second Consecutive Day
The Naira continued its upward trend against the U.S. dollar in the foreign exchange market on Thursday, marking the second consecutive day of appreciation.
According to data from FMDQ, the Naira strengthened to N1,548.59 per dollar, improving from Wednesday’s exchange rate of N1,552.58. This represents a gain of N3.99 against the dollar.
The positive movement was also reflected in the black market, where the Naira closed at N1,650 per dollar on Thursday, compared to N1,660 the previous day.
Meanwhile, Central Bank of Nigeria (CBN) Governor Olayemi Cardoso projected economic growth of 4.17 percent for Nigeria in 2025. The latest developments in the foreign exchange market come as the CBN continues efforts to stabilize the currency and boost investor confidence.