MPC Member Projects Naira to Reach N1,400/$1 by Year-end
Professor Murtala Sagagi, a member of the Central Bank of Nigeria's Monetary Policy Committee, projected the Naira to appreciate to N1,400/$1 by the end of the year. Sagagi attributed this potential strengthening to factors like increased crude oil production, capital inflows, and improved balance of payments.
He highlighted the challenges of limited economic diversification and overreliance on government debt, impacting Nigeria's economy. The country's public debt had increased significantly by the first quarter of 2025.
Sagagi emphasized the importance of structural reforms to address economic vulnerabilities and achieve sustainable growth, despite the current challenges facing the Nigerian economy.
Plus234Feed summary based on reporting from This Day. Read the original report below.
Read full article
Continue on This Day
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
CBN MPC Member Forecasts Naira Strengthening to N1,400/$1 by 2025
Nigeria's Debt Surges to N41 Trillion Despite Subsidy Removal and Forex Reforms
Naira Weakens to N493/$1 After CBN MPC Meeting, Reserves at 2019 High
Nigerian Naira Gains Strength Ahead of MPC Meeting, Market Optimistic
CBN's MPC Members Analyze Naira Stability, Exchange Rate Convergence, and Inflation Risks
Nigerian Naira Surges to N1,455/$ as Reserves Reach $43 Billion, CBN Reforms Boost Confidence
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
