Naira Stabilises at ₦1,345/$ as FX Market Confidence Grows 

The Nigerian Naira continued its steady run in the foreign exchange market on Tuesday, April 21, 2026, as early trading reflected growing confidence and sustained efforts to narrow the gap between official and parallel market rates.

At the official window, figures from the Nigerian Foreign Exchange Market (NFEM) showed the local currency trading at an average of ₦1,345.47 per dollar, marking a slight appreciation compared to the previous session. Intraday data indicated the Naira briefly strengthened to around ₦1,345.87/$, supported by stable demand and consistent interbank activity.

This performance highlights the impact of ongoing reforms by the Central Bank of Nigeria, which has focused on exchange rate transparency, liquidity management, and market-driven pricing. These policies are gradually restoring investor confidence and improving supply conditions in the official FX market.

Across the parallel market, the trend of relative calm persisted. In major trading hubs including Lagos, Port Harcourt, and Kano, the dollar traded between ₦1,390 and ₦1,405, reflecting a modest premium over the official rate.

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While the black market rate remains higher, the gap between both segments has continued to narrow, signaling progress toward exchange rate convergence. Compared to previous months marked by volatility and sharp swings, the current market environment is more stable, offering improved predictability for businesses and individuals relying on foreign exchange.

Analysts attribute the Naira’s resilience to stronger foreign exchange inflows, including increased participation from foreign portfolio investors, improved oil revenue receipts, and steady diaspora remittances. These factors have enhanced liquidity and reduced pressure on the local currency.

However, experts caution that external risks remain. The global strength of the US dollar and fluctuations in international oil prices could still influence Nigeria’s FX outlook in the near term.

For businesses and consumers, today’s Dollar to Naira exchange rate suggests a phase of consolidation, with fewer sharp fluctuations and more stability for financial planning. The current trajectory reinforces cautious optimism that Nigeria is moving toward a more unified and stable foreign exchange system.

Naira Stabilises at ₦1,345/$ as FX Market Confidence Grows

How Middle East Tensions Are Raising Living Costs in Nigeria – Finance Minister

Nigeria’s Minister of Finance, Wale Edun, has revealed how the ongoing US–Israel–Iran conflict is fueling inflation in Nigeria, triggering widespread economic pressures on households and businesses.

Speaking after the IMF/World Bank Spring Meetings, Edun said the geopolitical crisis has unleashed external shocks that are disrupting global energy markets, tightening financial conditions, and worsening the cost of living in Nigeria.

He explained that the crisis is unfolding at a critical time when Nigeria is implementing major economic reforms aimed at stabilising the economy, attracting investment, and lifting millions out of poverty.

According to Edun, one of the most immediate impacts has been the sharp rise in global oil prices, driven by supply disruptions around key transit routes such as the Strait of Hormuz. Nigeria’s Bonny Light crude, he noted, surged from about $70–$73 per barrel to highs exceeding $110–$120.

This spike has translated directly into higher domestic fuel costs, worsening energy prices in Nigeria.

“Volatility in global energy markets is already influencing domestic energy-related commodities, with direct implications for prices and the standard of living of Nigerians,” he said.

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Edun disclosed that petrol prices increased by over 50 percent—from about ₦890–₦900 per litre to between ₦1,260 and ₦1,330—while diesel prices jumped by more than 70 percent, rising from around ₦1,100 to nearly ₦1,550 per litre at peak levels.

The surge in fuel prices has triggered a ripple effect across the economy, significantly increasing transportation costs and pushing up food prices in Nigeria. Businesses are also grappling with higher production and logistics costs, which are being passed on to consumers.

As a result, inflation in Nigeria continues to climb, placing additional strain on households already facing economic hardship.

Beyond energy costs, the minister highlighted tightening global financial conditions as another major concern. He said geopolitical uncertainty has led investors to shift funds to safer economies, reducing capital inflows into emerging markets like Nigeria and putting pressure on the naira.

Despite these challenges, Edun said Nigeria is better positioned to withstand the current shocks compared to previous crises such as the COVID-19 pandemic and the Russia–Ukraine war.

He pointed to ongoing reforms—including fuel subsidy removal, exchange rate adjustments, and fiscal restructuring—as measures that have strengthened the country’s macroeconomic outlook.

Edun reaffirmed the government’s commitment to maintaining macroeconomic stability in Nigeria, attracting both local and foreign investments, and expanding social protection programmes to cushion vulnerable populations.

He also called for increased international support from institutions such as the International Monetary Fund and the World Bank, stressing that countries undergoing economic transitions need additional backing to navigate global uncertainties.

In summary, the finance minister warned that while Nigeria is making progress through reforms, the US–Israel–Iran conflict is significantly driving inflation, rising fuel prices, and cost of living increases in Nigeria, underscoring the need for coordinated domestic and global responses.

How Middle East Tensions Are Raising Living Costs in Nigeria – Finance Minister

NYSC Announces 2026 Batch ‘A’ Stream II Call-Up Letters, Reveals Orientation Date

The National Youth Service Corps (NYSC) has officially announced the release of call-up letters for 2026 Batch ‘A’ Stream II prospective corps members, marking the final phase of mobilisation for thousands of Nigerian graduates.

The scheme disclosed this on Monday via its official X (formerly Twitter) handle, stating, “2026 Batch ‘A’ Stream II deployment has been released,” confirming that candidates can now check their state of deployment, call-up numbers, and reporting details on the NYSC portal.

This development follows the earlier publication of the mobilisation timetable for the 2026 Batch ‘A’ Stream II orientation exercise. In a statement signed by NYSC spokesperson, Caroline Embu, the scheme confirmed that the orientation course will commence nationwide on April 22, 2026.

According to the schedule, registration and camp reception will begin on Wednesday, April 22, and end at midnight on Friday, April 24. The official swearing-in ceremony for prospective corps members is slated for April 24, while the full three-week orientation programme will run until May 12, 2026.

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The NYSC reiterated that the call-up letter is a mandatory document, as it contains vital information including the assigned state, orientation camp address, reporting timeline, and guidelines for service. Prospective corps members are therefore required to log into the official NYSC portal to print their letters before proceeding to camp.

However, many users reported slow portal access and login difficulties, largely due to the surge in traffic as thousands attempted to check their postings simultaneously. Despite this, the scheme assured that the platform remains functional and advised candidates to exercise patience.

The scheme also issued a strong advisory on travel safety, urging prospective corps members to avoid night journeys. It specifically recommended that travellers break their trips by 6:00 pm and continue the next morning, in line with ongoing concerns about road safety and insecurity in parts of the country.

In addition, corps members were reminded to report to their assigned camps within the stipulated registration window, as failure to do so may lead to automatic remobilisation to a later batch.

The release has generated mixed reactions online, with some prospective corps members expressing excitement about their deployment, while others voiced concerns over postings to distant or unfamiliar states, as well as the financial and logistical challenges involved.

Overall, the issuance of the call-up letters signals the transition from mobilisation to active participation in the NYSC scheme, as thousands prepare to begin their mandatory one-year national service across Nigeria.

NYSC Announces 2026 Batch ‘A’ Stream II Call-Up Letters, Reveals Orientation Date