Naira stabilizes as Nigeria’s exports hit $44bn in 2025

The Nigerian naira has shown signs of stabilization following a significant boost in the country’s export earnings, which reached $44 billion in 2025, providing crucial foreign exchange inflows that have helped ease pressure on the currency.

The improved export performance represents a positive development for Africa’s largest economy, which has struggled with currency volatility and foreign exchange scarcity in recent years. The $44 billion in export revenues has strengthened the Central Bank of Nigeria’s ability to defend the naira and meet demand for foreign currency from importers and businesses.

Economic analysts attribute the export surge to a combination of factors, including higher global commodity prices, increased oil production following improvements in security in the Niger Delta region, and growing contributions from non-oil exports such as agricultural products, solid minerals, and manufactured goods.

The naira’s stabilization has been reflected in both official and parallel market rates, with the gap between the two narrowing as increased dollar supply helps meet market demand. This development has provided relief to businesses that depend on imported raw materials and machinery, as well as ordinary Nigerians facing inflation driven partly by exchange rate depreciation.

However, while celebrating the positive export figures and currency stabilization, economic experts have cautioned that these gains must be translated into inclusive growth that benefits all segments of Nigerian society. They warn that macroeconomic improvements alone are insufficient if they do not result in job creation, poverty reduction, and improved living standards for ordinary citizens.

Economists have emphasized the need for Nigeria to sustain and diversify its export base beyond oil and gas, which still account for the majority of foreign exchange earnings. They argue that building a more resilient economy requires continued investment in agriculture, manufacturing, technology, and other sectors that can generate employment while contributing to export revenues.

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The Central Bank of Nigeria has acknowledged the positive impact of increased export earnings on currency stability but stressed that maintaining this trajectory will require sustained production increases, supportive policies, and improvements in the business environment to encourage both domestic and foreign investment.

Trade experts have also highlighted the importance of value addition to Nigeria’s exports, noting that the country could earn significantly more by processing raw materials domestically before export rather than shipping them in their crude form. This approach would not only increase export revenues but also create jobs and stimulate industrial development.

The stabilization of the naira has had positive ripple effects across the economy, including moderating inflation pressures, reducing the cost of debt servicing for companies with foreign currency obligations, and improving business confidence. However, many Nigerians continue to struggle with high costs of living, unemployment, and inadequate infrastructure.

Civil society organizations and labor unions have called on the government to ensure that the benefits of improved macroeconomic indicators are distributed more equitably across society. They advocate for increased investment in social services, infrastructure, education, and healthcare to ensure that economic growth translates into tangible improvements in quality of life.

The government has responded by pointing to various initiatives aimed at promoting inclusive growth, including social investment programs, infrastructure projects, and efforts to support small and medium enterprises. However, critics argue that implementation has been slow and that more aggressive action is needed to address persistent inequality and poverty.

As Nigeria moves forward, the challenge will be sustaining the momentum in export performance while ensuring that economic gains reach all segments of society. The $44 billion export milestone and naira stabilization provide a foundation, but converting these achievements into broad-based prosperity remains the ultimate test of economic policy success.