The Nigerian naira is expected to maintain its rare stability this year after recording its best outing in more than a decade in 2025, signalling that the various reforms of the government are beginning to bear fruit.
“Improving fundamentals warrant a re-rating of the naira in 2026. We are of the view that the naira could trade within the band of N1,350.00/$–N1,450.00/$,” CardinalStone said in its newly released economic outlook.
The projected appreciation of the currency, according to the report, is supported by improved liquidity in the FX market, growing reserves now at a more than seven-year high and adequate enough to cater to 6.2 months of current external debt payment, significantly higher than that of African peers.