The year 2025 is shaping up to be a year of hope or hubris for the Naira.
Optimists believe that after two years of wild swings, Nigeria’s currency might finally settle into something resembling stability.
The reasons are compelling enough: refineries coming online, reduced petrol imports, and an economy hungry to diversify beyond oil.
But let’s not pop the champagne just yet. A cocktail of domestic policy missteps and global economic shifts could send the Naira stumbling once more. Here’s what could go wrong.
If there’s one thing oil markets love, it’s drama—and a second Trump presidency could bring plenty of it. During his previous term, MAGA-era policies pumped U.S. domestic energy production, often at the expense of global crude prices.
If Trump returns to the White House, a glut in oil supply could hammer crude prices, squeezing Nigeria’s primary source of forex. True, local refineries are finally expected to reduce fuel import bills, but the math doesn’t work if…
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