Firms are betting big on the Nigerian economy due to a general improvement in the business environment and the naira stability resulting from foreign exchange reforms.
The foreign exchange (FX) market began the year at an official exchange rate of N1,538.50/$ and closed June 5 at N1,553.11/$.
At the parallel market, the exchange rate stood at N1,615/$, closing before the Sallah holiday at N1,605/$. This has revved up investor confidence and brought dollar inflows into the economy.