The Nigerian Naira has recorded a new level of appreciation against the US dollar, bringing some relief to citizens and businesses. Reports from the foreign exchange market show that the Naira gained strength at both official and parallel market windows, indicating increased confidence in the currency.

Experts say the improvement is linked to recent policy adjustments by financial authorities, increased supply of foreign currency, and stronger market regulations. They also believe that the government’s efforts to stabilise the economy are gradually beginning to reflect in exchange trends.

Many traders and importers welcomed the development, saying that even a slight appreciation can reduce the cost of goods and improve business transactions. They expressed hope that the momentum will continue so that prices in the market can begin to drop.

However, analysts warn that the Naira needs consistent support to maintain its new value. They advise the government to sustain reforms, close market loopholes, and encourage more dollar inflows to prevent another round of depreciation.