The Nigerian naira has recorded its first appreciation against the United States dollar after several days of continuous depreciation. The local currency gained marginally at the official foreign exchange market, bringing temporary relief to businesses and individuals affected by rising exchange rates.

Market observers say the improvement may be linked to recent interventions by the Central Bank of Nigeria and increased dollar supply to the market. Analysts also point to reduced demand pressure and cautious optimism among traders as contributing factors to the naira’s modest recovery.

Despite the positive movement, experts warn that the appreciation may not yet signal a full turnaround. They stress that sustained stability will depend on consistent forex inflows, stronger export earnings, and confidence in ongoing economic reforms. Without these, the naira could still face renewed pressure.

Many Nigerians remain hopeful that the latest gain will lead to improved purchasing power and lower prices of imported goods. However, stakeholders urge the government to maintain policy discipline and transparency to ensure the currency continues on a more stable path.