The Naira has been ranked Africa’s ninth weakest currency, despite signs of economic relief from falling inflation.
The Nigerian Naira has been ranked the ninth weakest currency in Africa, according to a Forbes currency calculator report for September 2025.
The Naira trades at around ₦1,490 per $1, pressured by oil price volatility and high import dependence. Despite this weakness, inflation has improved, falling from 24.5% in January to 20.12% in August.
Dr. Omoniyi Akinsiju, chairman of the Independent Media and Policy Initiative, said, “Nigeria recorded a rare disinflation in 2025, with inflation falling from 24.5% in January to 20.12% in August, the sharpest mid-year slowdown in over a decade.”
The IMPI projects inflation could drop to 17% by December, though the Naira’s recovery depends on sustained reforms and stronger forex inflows.