Naira to Dollar official/black market rates today, Tuesday, January 20, 2026

The Nigerian Naira opened trading on Tuesday, January 20, 2026, at 1,419.37 per US dollar, showing a steady start to the day.

Early market movements reflect investor confidence amid government plans targeting 4.68 percent economic growth this year.

By mid-morning, the currency gained slightly, trading at 1,417.53 per dollar, marking a modest 0.13 percent rise. Experts say this early stability signals calm in the official foreign exchange window.

Stability in the Official Market

In the Nigerian Foreign Exchange Market (NFEM), the Central Bank’s improved transparency and careful management of external debt have helped sustain Naira stability.

Officials note that while total debt remains substantial, prior reforms and currency revaluations have strengthened the debt-to-GDP ratio, giving investors and local businesses more predictable conditions.

Parallel Market Trends

The parallel market continues to trade above official rates, with the US dollar exchanging for between 1,465 and 1,480 Naira in major cities like Lagos, Abuja, and Kano.

While the difference between official and informal rates persists, it is far narrower than the wide gaps seen in previous years. Traders report sufficient supply to meet demand, with no early signs of speculative pressure.

Outlook for the Naira

Analysts describe the Naira’s current position as part of an economic “consolidation phase.”

With inflation easing and a more stable exchange rate, the market expects the Central Bank to maintain policies that balance liquidity with growth objectives.

Global oil prices remain a key factor, as shifts in demand could influence Nigeria’s foreign reserves and the long-term stability of the Naira.