The Nigerian Naira has finally recorded its first major appreciation against the US dollar, bringing some relief to citizens and businesses struggling with the rising cost of goods. This improvement comes after several weeks of pressure on the foreign exchange market.

According to market reports, the Naira gained strength as increased dollar supply and tighter government policies helped stabilise the currency. Traders noted that buyers were able to purchase dollars at a slightly lower rate compared to previous days, signaling a positive shift in market confidence.

Experts say the rise is linked to recent economic steps taken by the Central Bank of Nigeria, including measures to block currency hoarding and improve FX inflow. Some analysts believe the appreciation could continue if the government maintains consistent monetary reforms.

Many Nigerians welcomed the news, hoping the stronger Naira will help reduce inflation, especially in food and transportation prices. However, financial experts warn that stability will depend on sustained production, strong export earnings, and disciplined market regulations.