Naira Ranked Among Africa's Weakest Currencies at ₦1,490/$1
Nigeria has been fare worst under the APC leadership since the days of Major General Muhammadu Buhari's draconian civilian regime and as succeed by a very obvious anti people Bola Ahmed Tinubu's maximum pains for greater numbers of citizens as Nigeria's Naira ranked among the worst currencies in Africa.
According to Forbes, the Nigerian Naira ranks ninth weakest currency in Africa, amidst economic strain despite recent improvements.
Forbes' currency calculator tracks currency performance across Africa, factoring market demand, supply, and economic conditions. The São Tomé & Príncipe Dobra ranks weakest at 22,282 per dollar, followed by Sierra Leonean Leone, Guinean Franc, Ugandan Shilling, and Burundian Franc.
Others on the list include Congolese Franc, Tanzanian Shilling, Malawian Kwacha, Nigerian Naira, and Rwandan Franc.
In contrast, Africa's strongest currencies are led by Tunisian Dinar, Libyan Dinar, Moroccan Dirham, Ghanaian Cedi, and Botswanan Pula.
Forbes report that despite the Naira's weak standing, Nigeria's inflation outlook has improved in 2025, with headline inflation dropping from 24.5% in January to 20.12% in August.
The decline is attributed to steady foreign exchange inflows, improved agricultural yields, and the Central Bank of Nigeria's decision to maintain its benchmark interest rate. Experts predict inflation could fall to 17% by December 2025, providing relief for households and businesses.
What the report failed to acknowledge is that the purchasing power of the citizens has been drastically reduced.
Nigeria has been fare worst under the APC leadership since the days of Major General Muhammadu Buhari's draconian civilian regime and as succeed by a very obvious anti people Bola Ahmed Tinubu's maximum pains for greater numbers of citizens as Nigeria's Naira ranked among the worst currencies in Africa.
According to Forbes, the Nigerian Naira ranks ninth weakest currency in Africa, amidst economic strain despite recent improvements.
Forbes' currency calculator tracks currency performance across Africa, factoring market demand, supply, and economic conditions. The São Tomé & Príncipe Dobra ranks weakest at 22,282 per dollar, followed by Sierra Leonean Leone, Guinean Franc, Ugandan Shilling, and Burundian Franc.
Others on the list include Congolese Franc, Tanzanian Shilling, Malawian Kwacha, Nigerian Naira, and Rwandan Franc.
In contrast, Africa's strongest currencies are led by Tunisian Dinar, Libyan Dinar, Moroccan Dirham, Ghanaian Cedi, and Botswanan Pula.
Forbes report that despite the Naira's weak standing, Nigeria's inflation outlook has improved in 2025, with headline inflation dropping from 24.5% in January to 20.12% in August.
The decline is attributed to steady foreign exchange inflows, improved agricultural yields, and the Central Bank of Nigeria's decision to maintain its benchmark interest rate. Experts predict inflation could fall to 17% by December 2025, providing relief for households and businesses.
What the report failed to acknowledge is that the purchasing power of the citizens has been drastically reduced.
