The Nigerian currency, naira, saw a positive turn as it gained value against the US dollar in the official foreign exchange market on Thursday.

According to the Central Bank of Nigeria, the naira’s exchange rate improved to N1586.15 per dollar on Thursday, compared to N1590.74 recorded on Wednesday.

This means the naira went up by N4.59 in value when compared with the previous day’s rate.

On the other hand, the black market showed a small drop for the naira. It traded at N1,623 per dollar on Thursday, which is N3 lower than the N1,620 rate on Wednesday.

DAILY POST had earlier reported that the naira lost value across various exchange markets on Wednesday.

Speaking during his second anniversary in office on May 29, 2025, President Bola Tinubu said the government has been working to steady the economy. He stated, “We have stabilised our economy.”

Meanwhile, economist Bismark Rewane, who is the CEO of Financial Derivative, said that issues like high inflation and increasing debt still affect the country’s economy during the first two years of President Tinubu’s leadership.