NGN → USD Rates

NFEM (Official) Rate

Official Market:

Buying: ₦ 1,419.37/ USD

Parallel Market:

Buying: ₦ 1,465/ USD

Selling: ₦ 1,480/ USD

Market Drivers: The stability in the NFEM is supported by improved reporting and transparency in the central bank’s management of external debt and liquidity. Finance officials have recently noted that while nominal debt figures remain high, the revaluation of the Naira through previous reforms has helped stabilize the debt-to-GDP ratio, providing a more predictable environment for foreign investors and local manufacturers.

Outlook:​ Analysts describe the Naira’s current position as part of an economic “consolidation phase.” With inflation easing and a more stable exchange rate, the market expects the Central Bank to maintain policies that balance liquidity with growth objectives.

Global oil prices remain a key factor, as shifts in demand could influence Nigeria’s foreign reserves and the long-term stability of the Naira.