Naira Strengthens Against Dollar

The Naira recorded gains against the dollar at the official foreign exchange market on Thursday.

FMDQ data showed that N1,541.38 appreciated against the dollar on Thursday from N1,544.20 exchanged on Wednesday.

This represents a marginal gain of N2.82 against the dollar compared to N1,544.20 traded the previous day.

Meanwhile, in the parallel market, it remained flat at N1660 per dollar, the same exchange rate as on Wednesday.

The development comes at a time when President Bola Ahmed on Wednesday pegged Nigeria’s N49.7 trillion 2025 budget proposal at N1,500 per dollar.

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