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Tag: Naira Exchange Rate

HomeNaira Exchange Rate

The Nigerian National Assembly has experienced a legislative discrepancy, as the Senate and the House of Representatives approved different crude oil price benchmarks for the 2026–2028 Medium Term Expenditure Framework (MTEF). While both chambers agree on many macroeconomic targets, the disagreement over oil prices, which is the major source of Nigeria's foreign exchange earnings, highlights …

Reps Suspend 2026–2028 MTEF/FSP Consideration as Lawmakers Clash Over Oil Price Benchmark

Currency traders attribute the recent strengthening of the naira and the stability of the forex market to factors such as an excess supply of dollars and increased enforcement actions by security agencies targeting forex speculators and hoarders.  They point to several additional factors contributing to the naira's improved performance, including the Central Bank of Nigeria's …

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