The Naira inched higher on Thursday in the parallel forex market, trading at N1,570 per dollar—up N5 from Wednesday’s N1,575 rate, according to Bureau De Change operator Abubakar Alhasan in Abuja’s Wuse Zone 4. This marks the second straight day the Naira has gained on the black market, adding N10 in just 48 hours.
Meanwhile, the official market data for Thursday is still pending on the Central Bank of Nigeria’s website. For context, the Naira closed at N1,504.30 per dollar on Wednesday.
This positive trend comes as Nigeria awaits the release of January 2025 inflation data, with last December’s inflation having surged to 34.80 percent.
