The naira weakened slightly to N1,431 per dollar at the official foreign exchange market on the first trading day of 2026, according to data from the Nigerian Foreign Exchange Market tracked by Nairametrics. The currency slipped from N1,429/$ recorded on December 31, 2025, marking a N2 day-on-day depreciation or about 0.14%, as trading resumed after the New Year holiday and cautious sentiment returned to the market.
Despite the marginal dip, the naira closed 2025 on a strong note, appreciating by 7.4% year-on-year from N1,535/$ at the end of 2024, supported by FX reforms, improved price discovery, and better alignment between official and parallel market rates. Commenting on the outlook, Abuja-based analyst Dotun Adedira said, “The naira’s relative stability in recent weeks suggests that volatility could remain limited in the near term,” adding that CBN policy direction, oil prices, and FX inflows will shape performance in early 2026.