AfDB projects 6% Nigerian naira depreciation in 2025 amid global market uncertainty
The African Development Bank (AfDB) has projected that the Nigerian naira will depreciate by at least 6% between 2025 and 2026, citing growing global financial market volatility as a key factor.The outlook, published in the African Economic Outlook 2025, highlights the impact of global uncertainty on the stability of African currencies over the next year.The report comes just a week after Central Bank of Nigeria (CBN) Governor Olayemi Cardoso announced that volatility in Nigeria’s foreign exchange (FX) market has significantly declined, dropping below 0.5%.Cardoso attributed this improvement to monetary and...