Dollar to naira exchange rate in Q1

The Centre for the Promotion of Private Enterprises (CPPE) has disclosed that the naira traded within the range of N1,340 to N1,430 against the dollar in the official market in the first quarter of 2026.

Chief Executive Officer of CPPE, Muda Yusuf, made this known in a weekend statement while reviewing Nigeria’s economic performance in Q1 and providing an outlook for the second quarter.

According to him, the relative stability of the naira during the period helped to moderate imported inflation and boost investor confidence.

He attributed the exchange rate stability to improved external reserves, which climbed to about $50 billion as of March 11, 2026.

Despite the gains, Yusuf noted that the cost-of-living crisis remained severe for many Nigerians, driven by high energy costs, insecurity, and persistent structural challenges within the economy.