Dollar to Naira Exchange Rate Today, January 20, 2026

On Tuesday, January 20, 2026, the Nigerian Naira exhibited a steady performance in the early hours of trading, responding positively to recent government projections aimed at economic consolidation and an expected growth rate of 4.68 percent for the year.

In the Nigerian Foreign Exchange Market (NFEM), the Naira commenced trading at approximately 1,419.37 Naira per dollar. By mid-morning, the rate had appreciated slightly to 1,417.53 Naira per dollar, marking a marginal gain of 0.13 percent from the opening figures. This indicates a period of relative stability in the official exchange rate.

This stability is attributed to enhanced transparency in the central bank’s management of external debt and liquidity. Finance officials have acknowledged that while nominal debt levels remain elevated, the recent revaluation of the Naira—due to previous reforms—has contributed to a stabilized debt-to-GDP ratio, thereby fostering a more predictable environment for both foreign investors and local manufacturers.

In the parallel market, commonly used for immediate retail transactions, exchange rates still reflect a premium over the official rate. In major cities such as Lagos, Abuja, and Kano, the dollar is exchanging at rates between 1,465 and 1,480 Naira.

Although a disparity still exists between the official and informal markets, this gap is significantly narrower than extremes experienced in previous years.

Currency traders in Lagos report that current demand is adequately supported by supply, with no significant fluctuations in speculative activity noted so far.

Economic analysts point out that the Naira’s current trajectory is indicative of a “consolidation phase” within the Nigerian economy. With a slight easing in inflation and a stable exchange rate, market participants are looking to the central bank for ongoing strategies that will balance liquidity management with growth objectives.

Furthermore, investors are closely monitoring global oil price trends, as any substantial changes in petroleum demand could influence the country’s foreign reserves and the long-term stability of the exchange rate.