Nigeria’s revenue from exchange rate gains dropped sharply by 73% in the first half of 2025, plunging to N589.45 billion from N2.199 trillion recorded during the same period in 2024.
The exchange rate between the naira and the dollar fell to a six-month low of N1,625.88/$1 on the official NAFEM market on Wednesday, August 4, 2024.
The naira has suffered further depreciation on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window, closing at N1,603.80/$1 on Thursday, July 25, 2024.
Naira has depreciated against the US dollar, as it dropped from N455/$1 to N460/$1 on Thursday afternoon.
The report explains why a 5-10% devaluation of the naira is plausible amidst the CBN's recent monetary policies.
