Business
Why naira may recover and appreciate before year end – Experts
Why naira may recover and appreciate before year end – Experts
Financial analysts have expressed optimism that the naira will regain its real value before the end of the year, 2024 if the government put an end to oil theft as well as increase non oil export out of the country.
Speaking to our Correspondent, the Managing Director of Afrinvest Securities Limited, Ayodeji Ebo, however, advised the government to raise foreign exchange from the international market in other to stabilise the currency.
According to him, government should stop oil theft and ensure increase in the barrel of daily crude oil production.
“Naira will acheive its value before year end but it depends on the move that is made or how policies are managed. Government should increase supply and if that is properly managed, the naira will appreciate.
“Also, we need to access the international market for loan. For instance, in 2021, the government raised about $5.2 billion and we need that type of intervention again. We need to stop oil theft to increase supply. If these two are done, the naira will be strengthened in the short term while in the long term, we need to focus on non oil export.”
Importantly, the government should stop oil theft and increase production to 1.8m barrel per day to increase FX supply while we access international market to raise other structures. Before naira can stabilize, the country needs over $10bn in the economy and as crude oil continue to provide the steady inflow, we need to work on long term non oil export,” he stated.
A stock broker, Charles Fakrogha, said the naira will appreciate and stabilize against foreign currencies, especially United States dollar, as soon as the government stop oil theft and shift to non oil export.
Speaking on phone to our Correspondent, Fakrogha, said unifying the exchange rate by current administration received enormous support but for the economy to reap the benefits, Nigerians must change their consumption pattern from over reliance on foreign products to locally produced goods.
“The issue is that the naira is having free fall because there is so much demand for the dollar. The government cannot meet the supply, it’s simple economics. For me, whenever, the CBN is doing will make impact if the policies they put in place are implemented in term of increasing our dollar receipt, our revenue and we continue to export more and when we receive this, we will see the value of naira continue to stabilise.
“Yes, we must be a productive economy, we must be able to produce and export that’s the only way to grow an economy. We cannot have an economy when we continue to import. Government have to change their attitude as well when it comes to Importation, we need to see how to increase our export and ensure no leakages and increase our revenue if we do this, we will see increase in the value of our national currency,” Fakrogha, the Chief Relationship Officer at Foresight Securities & Investment Limited · stated.
According to the financial expert, with increase revenue from oil and non oil export, CBN will be able to meet demand for foreign exchange.
“More people want the dollar and we don’t have the supply and where is the supply coming from? Our receipt of dollar, our revenue and our main source is oil and gas.
“We are seeing what’s happening in the sector currently- oil theft and leakages- we are not getting what we are expected to get from there also, how many non oil exports do we do, we are not exporting so much and more Nigerians want to continue to import.
“They crave for foreign things and all that. There is a lot of pressure and the CBN will say they want to support the naira from our reserves and we can’t continue defending our national currency from your reserves, for how long? So, the naira will continue to have a free fall.
“The government did unification of the exchange rate which is a good policy and we supported it and before you do that, there must be measures on ground to support the dollar.
“CBN is supposed to be a market maker so that when more people are buying, the CBN is selling and when more people are selling, the CBN is buying but the CBN itself doesn’t have the dollar to supply that’s why we are seeing the naira depreciating,” he stated.
Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Alpha Morgan to Host 19th Economic Review Webinar
In an economy shaped by constant shifts, the edge often belongs to those with the right information.
On Wednesday, February 25, 2026, Alpha Morgan Bank will host the 19th edition of its Economic Review Webinar, a high-level thought leadership session designed to equip businesses, investors, and individuals with timely financial and economic insight.
The session, which will hold live on Zoom at 10:00am WAT and will feature economist Bismarck Rewane, who will examine the key signals influencing Nigeria’s economic direction in 2026, including policy trends, market movements, and global developments shaping the local landscape.
With a consistent track record of delivering clarity in uncertain times, the Alpha Morgan Economic Review continues to provide practical context for decision-making in a dynamic environment.
Registration for the 19th Alpha Morgan Economic Review is free and can be completed via https://bit.ly/registeramerseries19
It is a bi-monthly platform that is open to the public and is held virtually.
Visit www.alphamorganbank to know more.
GTBank Launches Quick Airtime Loan at 2.95%
Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.
In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing *737*90#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”
Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.
About Guaranty Trust Bank
Guaranty Trust Bank (GTBank) is the flagship banking franchise of GTCO Plc, a leading financial services group with a strong presence across Africa and the United Kingdom. The Bank is widely recognized for its leadership in digital banking, customer experience, and innovative financial solutions that deliver value to individuals, businesses, and communities.
About HabariPay
HabariPay is the payments fintech subsidiary of GTCO Plc, focused on enabling fast, secure, and accessible digital payments for individuals and businesses. By integrating payments and digital technology, HabariPay supports innovative services that make everyday financial interactions simpler and more seamless.
Enquiries:
GTCO
Group Corporate Communication
[email protected]
+234-1-2715227
www.gtcoplc.com
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