By Comfort Asemota
Naira Exchange Rate Update: As of mid-December 2025, the naira to dollar rate hovers around N1,450–N1,460/$1 in the official market (NFEM around N1,453 on December 12), with black market rates at N1,475–N1,490/$1. Seasonal Detty December spending—holiday imports, travel, and corporate settlements—has intensified dollar demand, exerting mild pressure on the naira despite CBN interventions and external reserves hitting $45–$46 billion (a 6-year high as of early December).
- Detty December Demand: Heightened FX needs for festivities push parallel rates higher—classic year-end spike, but analysts expect late-month relief from diaspora remittances and tourism inflows.
- CBN Support: $250M+ injections and reserves buildup (up $396M to ~$45.44B by Dec 11) cushion falls; forwards show mixed signals (short-term depreciation, longer appreciation).
- Global Factors: Stronger USD from US-China tensions; oil volatility impacts Nigeria’s primary inflows.
