CBN MPC Member Forecasts Naira Strengthening to N1,400/$1 by 2025

Professor Murtala Sagagi, a member of the Central Bank of Nigeria Monetary Policy Committee, predicts the Naira will strengthen to N1,400/$1 by the end of 2025. Sagagi is optimistic due to positive developments like increased crude oil output, foreign capital inflow, and improved balance of payments.

He emphasized the role of the CBN in easing inflation and promoting economic growth. Despite past structural inefficiencies, recent government reforms focus on economic diversification and improving living standards.

Another MPC member, Bala Moh Bello, echoed similar sentiments on exchange rate stability.