Naira Strengthens for Third Day Against US Dollar as Forex Reforms Take Effect - Newstrends
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Naira Strengthens for Third Day Against US Dollar as Forex Reforms Take Effect

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Dollar to Naira Exchange Rate Today: Naira Holds Steady as Fuel Importer Demand Mounts

Naira Strengthens for Third Day Against US Dollar as Forex Reforms Take Effect

The Nigerian naira recorded its third consecutive gain against the US dollar at the official foreign exchange market, closing Friday at ₦1,380.57 per dollar, up ₦3.30 or 0.23% from Thursday’s ₦1,383.88. This follows a gradual rebound earlier in the week, after the currency weakened to ₦1,386.70 on Wednesday.

Data from the Central Bank of Nigeria (CBN) show that the steady appreciation reflects renewed confidence in the official FX window, driven by better liquidity, policy consistency, and ongoing foreign exchange reforms. Analysts attribute the gains to sustained forex inflows and tighter monetary measures that are gradually stabilising the exchange rate and reducing market volatility.

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Experts say the PASGA reforms and government measures allowing full repatriation of export proceeds for oil companies are also contributing to the positive trend. Increased transparency and structural adjustments in foreign exchange management have begun to produce measurable results, boosting investor and market confidence.

Despite the gains, market observers caution that external pressures, including global dollar strength, could challenge the naira’s resilience in the coming weeks. They note that discrepancies between the official and parallel market rates remain, which may affect importers, exporters, and individuals seeking foreign currency outside the official window.

The naira’s rebound is part of a broader effort by the CBN and the federal government to strengthen the currency, enhance foreign exchange liquidity, and stabilize the Nigerian economy amid global economic uncertainties. Analysts believe that sustained reforms and careful macroeconomic management are crucial to maintaining this upward momentum and supporting long-term financial stability.

Naira Strengthens for Third Day Against US Dollar as Forex Reforms Take Effect

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Haske Dumps APC for APM, Sets Sights on 2027 Adamawa Governorship

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The political contest for Adamawa State’s governorship in 2027 has taken a new turn following Abdulrahman Haske‘s decision to abandon the APC and contest the election on the platform of the Allied Peoples Movement.

Haske, a businessman and politician, formally joined the APM at a gathering in Yola on Saturday attended by party officials, community leaders and supporters drawn from across Adamawa.

His decision comes months after he sought the APC ticket for the governorship race. Reports earlier in September had indicated that he was preparing to leave the ruling party, with associates saying his supporters were also moving towards the APM.

Now under the APM, Haske says his political agenda will centre on improving the lives of residents through stronger investment in agriculture, infrastructure, education and healthcare.

He also identified security, job creation and economic empowerment as priorities, while promising greater accountability in the handling of government resources.

Accepting the party’s ticket, Haske expressed appreciation to the APM leadership and pledged to approach the 2027 contest with what he described as integrity, hard work and commitment to public service.

Dantalle, the APM national chairman, said Haske’s emergence followed consultations by the party and reflected its confidence in his leadership capacity.

According to him, the former APC aspirant’s emphasis on inclusive development and youth empowerment made him suitable to represent the party in the election.

At the state level, APM chairman Badejo Bello described Haske as a bridgebuilder who understands the challenges facing Adamawa and said the party was confident his candidacy could provide voters with an alternative in 2027.

With Haske now formally carrying the APM flag, attention will turn to how his new political platform affects the race and the wider alignment of political forces in Adamawa ahead of the election.

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Bamanga Tukur Dies at 90, Tinubu Pays Tribute to Ex-PDP Chairman 

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Bamanga Tukur Dies at 90, Tinubu Pays Tribute to Ex-PDP Chairman 

 

President Bola Tinubu has mourned the death of former Peoples Democratic Party National Chairman, Bamanga Mohammed Tukur, describing the former governor and minister as a towering statesman whose footprints cut across Nigeria’s political, economic and business history.

Tukur, who also served as governor of the old Gongola State and Minister of Industries, died on Saturday at the age of 90.

In a condolence statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, Tinubu said Tukur’s long career in public administration, governance, industry, politics and pan-African business leadership made him an important figure in Nigeria’s national development.

 

Born on September 15, 1935, Tukur served as General Manager of the Nigerian Ports Authority between 1975 and 1982, where the President credited him with contributing to the development of Nigeria’s maritime sector.

 

He later ventured into partisan politics and was elected governor of the old Gongola State in 1983, before the state was eventually split into the present Adamawa and Taraba states.

 

Paying tribute to the deceased, Tinubu described Tukur as “urbane, generous and deeply rooted in the values of integrity and service that the Adamawa Emirate and the nation hold dear.”

 

He added, “He was a man of big ideas and bold enterprise who believed in Nigeria’s limitless potential. Nigeria will sorely miss his wise counsel and fatherly guidance.”

 

Beyond public office, Tukur established a strong presence in the private sector as Chairman of BHI Holdings and the DADDO Group of Companies, with business interests spanning manufacturing, agriculture, logistics and trading.

 

He also contributed to African economic integration and business advocacy, serving as Executive President of the African Business Roundtable and Chairman of the NEPAD Business Group.

 

At the political level, Tukur became National Chairman of the PDP in March 2012, serving until January 2014 under former President Goodluck Jonathan.

 

Tinubu extended his condolences to the Tukur family, the Fombina Emirate, the Adamawa State Government and the political and business communities in Nigeria and across Africa.

 

He prayed to Allah to forgive the deceased’s shortcomings, grant him Aljannah Firdaus and give his family and other mourners the strength to bear the loss.

 

The family had earlier announced Tukur’s death in a statement signed by his son, Hon. Awwal D. Tukur.

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Yari: God Chose Me to Lead Tinubu’s 2027 Campaign

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Yari: God Chose Me to Lead Tinubu’s 2027 Campaign
Senator Abdul’aziz Yari Abubakar

Yari: God Chose Me to Lead Tinubu’s 2027 Campaign

The Director-General of President Bola Tinubu’s 2027 campaign council, Senator Abdul’aziz Yari Abubakar, has said he believes God chose him for the position.

Yari spoke on Friday in Gusau during a meeting with APC leaders and stakeholders as part of efforts to mobilise support for Tinubu ahead of the 2027 election.

He said he would travel across the country to present Tinubu’s achievements and explain why Nigerians should support his bid for a second term.

According to Yari, however, success in Zamfara would depend on the support of party leaders and members across the state.

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He predicted massive support for Tinubu from Zamfara and said the campaign would be driven by the administration’s record rather than attacks on opposition figures.

Yari admitted that some of Tinubu’s economic policies had brought hardship but maintained that certain reforms were necessary to strengthen the economy.

He also defended the government’s tax reforms, saying they were designed to ensure that people contribute based on their income without placing an unfair burden on the masses.

On security, Yari said the government was committing significant resources to fighting terrorism and banditry. He argued that although the spending could have been used for development, tackling insecurity was necessary to create room for economic growth.

Yari said the campaign would focus on the country’s challenges and the government’s plans for the future.

Nigeria is before us as Nigerians” he said.

Yari: God Chose Me to Lead Tinubu’s 2027 Campaign

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