Lagos, Nigeria | September 6, 2025
The Nigerian naira recorded a steady appreciation in both the parallel and official foreign exchange markets during the first week of September 2025, extending gains observed at the end of August.
Data from Nairametrics show that in the parallel market, the naira opened at ₦1,539 to $1 on Monday, September 1, held steady on Tuesday, inched stronger to ₦1,538/$1 on Wednesday, and closed the week at ₦1,535/$1 on Thursday, September 4.
In the official market, the naira also strengthened, moving from ₦1,527.9/$1 on Monday to ₦1,511.5/$1 on Thursday.
Analysts attribute the improvement to increased diaspora remittances, foreign portfolio investments, and a rise in Nigeria’s external reserves to $41.3 billion, which has bolstered the Central Bank of Nigeria’s capacity to support the currency.
The trend signals growing stability for the naira as the nation enters the second month of the third quarter of 2025.