The Nigerian naira is expected to fall to N1,804 per dollar in the official market by 2025.
This compares to the N1,500 per dollar standard suggested in the National Assembly’s 2025 budget.
Over the weekend, the Naira rose in the official market to settle at N1,534 per dollar and N1,650 in the black market.
According to an Afrinvest research titled ‘Beyond the Rhetorics: Transforming Reforms to Tangibles’, the projection is based on the premise that the Central Bank of Nigeria will be restrained in meeting foreign exchange requests and anticipated FX volatility in the coming months.
“We anticipate that exchange rate volatility would persist in 2025, albeit at a modest pace.
“Our prognosis is hinged on the belief that the CBN would be constrained from adequately meeting market demand on a sustained basis, as the recent FX reserves accretion was largely driven by inflows from inorganic sources, including those with stringent conditions on usability,”, the report said.
