Top Nigerian Investment Firm Predicts New Naira to Dollar Exchange Rate By March 2025
- Comercio Partners Limited has predicted a new exchange rate for the naira against the dollar in the FX market
- Comercio said it expects the naira to further depreciate in the foreign exchange market to nearly N1,700 a dollar
- The Nigerian currency is currently exchanged in the official and parallel FX markets below N1,600
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Comercio Partners Limited, a leading investment banking firm, has projected that the Naira will close at N1,700 per dollar in the first half of 2025.
The firm made this prediction in its 2025 Macro Economic Outlook report, titled "Looking Forward to the Future."
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Comercio stated that the current appreciation of the naira is due to Eurobond issuance and the depreciation of naira is inevitable.
The report indicated.
"Nigeria’s exchange rate experienced a significant boost since December following a 2.2billion dollars Eurobond.
“Nigeria’s history of Eurobond issuances reveals a consistent pattern: brief periods of naira appreciation followed by inevitable declines."
The report further explained that only a “well-coordinated effort” between monetary and fiscal authorities can ensure sustained currency appreciation and broader economic resilience in the years ahead.
Ifeanyi Ubah, the Head of Investment Research and Global Macro Strategist who presented the report added:
“Having analysed all the Eurobonds performances during high inflows of FPI, our outlook for the naira going forward in the next six months is around N1,700.”
Stephen Osho, CEO of Comercio Partners Capital, expressed optimism that the naira exchange rate will appreciate further.
He attributed its current strength to several key factors, including increased FX inflows, improved market liquidity, and greater clarity from the CBN regarding the clearance of foreign obligations.
On inflation, the firm projected that headline inflation could drop as low as 15% in the first half of 2025, signalling a gradual return to economic stability, Dailytrust reports.
Naira to dollar exchange rate
The Nigerian currency has recently performed strongly against the US dollar, with exchange rates currently below the N1,600 threshold in both the official and unofficial markets.
The latest data from the Central Bank of Nigeria shows that on Tuesday, February 11, naira closed at N1,513 a dollar exchange rate
While in the parallel market also known as the black market, BDC operators confirmed that a dollar was sold at N1,568 and bought at N1,555.
Abudulahhi a trader told Legit.ng
"We are gradually getting customers, which is why the dollar is appreciating again. This indicates that the official market does not have enough dollars."
Pastor Adeboye predicts naira's future
Legit.ng earlier reported that Adeboye prophesied that the Naira would improve against the US dollar and urged Nigerians to remain hopeful.
Adeboye revealed the prophecy during the RCCG's monthly thanksgiving service on Sunday, themed 'Uncommon Miracles.'
The religious leader recalled how the Naira was once stronger than the dollar and foresaw such a scenario happening again.
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Source: Legit.ng
