Naira dips against dollar hours to New Year

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Just 24 hours before 2025, the naira lost value in relation to the dollar on both the official and black market foreign currency markets.

According to FMDQ data, the naira lost N4.55 on Friday, closing at N1,538.55 per dollar on Monday after trading at N1,534.54 on Friday.

In a similar vein, the naira slightly declined to N1,662 per dollar on Monday from N1,660 the day before on the black market.

According to a recent Afrinvest analysis, the naira may weaken to N1804 per dollar in 2025 as the year draws to a close.

Nigeria’s inflation rate, which was 34.60 percent in November, is expected to decrease in the upcoming year, according to the Centre for the Promotion of Private Enterprise.

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