By Seun Ibiyemi
The Nigerian Naira began the 2026 trading year on a bullish note, appreciating by N4.90 against the United States dollar at the official foreign exchange market, a development that coincides with renewed calls from industry leaders for sustained fiscal discipline and strategic economic planning.
Data from the official market indicated that the Naira strengthened on the first trading day of the year, driven by improved dollar liquidity and sustained reforms in the foreign exchange framework.
Market operators attributed the early gains to increased confidence among investors and exporters, alongside tighter oversight of FX transactions.
Analysts noted that the appreciation signals a gradual stabilisation of the currency following historical volatility, suggesting that the Central Bank of Nigeria’s efforts to deepen market transparency and attract foreign inflows are beginning to yield tangible results.
Traders at the official window highlighted renewed participation by foreign portfolio investors and steady inflows from exporters as critical factors supporting the Naira’s positive performance.
While market watchers expressed optimism that this strong opening could set the tone for stability in the months ahead, they cautioned that global economic developments and domestic demand pressures remain influential variables.