Black Market Dollar (USD) to Naira(NGN) Exchange Rate Today, January 20, 2026

The Nigerian Naira maintained a steady performance in the early hours of trading today, Tuesday, January 20, 2026, as the foreign exchange market reacts to recent government projections for economic consolidation and a targeted growth rate of 4.68 percent for the year.

Official Market Trends

In the Nigerian Foreign Exchange Market (NFEM), the Naira opened the trading day at approximately 1,419.37 per dollar. As of the mid-morning session, the rate saw a slight appreciation, currently trading at 1,417.53 per dollar. This reflects a marginal gain of 0.13 percent compared to the opening figures, indicating a period of relative calm in the official window.

The stability in the NFEM is supported by improved reporting and transparency in the central bank’s management of external debt and liquidity. Finance officials have recently noted that while nominal debt figures remain high, the revaluation of the Naira through previous reforms has helped stabilize the debt-to-GDP ratio, providing a more predictable environment for foreign investors and local manufacturers.

Parallel Market Performance

The parallel market, often used for immediate retail needs and smaller transactions, continues to trade at a premium above the official rate. In major commercial hubs such as Lagos, Abuja, and Kano, the dollar is being exchanged at rates between 1,465 and 1,480.

While the gap between the official and informal markets persists, it remains significantly narrower than the extreme spreads witnessed in previous years. Currency traders in Lagos report that demand is currently being met by available supply, with no major spikes in speculative activity reported during the early hours of the day.

Market Outlook

Economic analysts suggest that the Naira’s current path is influenced by a “consolidation phase” in the Nigerian economy. With inflation easing slightly and a stable exchange rate underpin, the market is looking toward the central bank for continued intervention strategies that balance liquidity with growth targets.

Investors are also keeping a close eye on global oil price movements, as any significant shifts in petroleum demand could impact the country’s foreign reserves and, subsequently, the long-term stability of the exchange rate.

Hafsoh Isiaq

Hafsoh Isiaq is a graduate of Linguistics. An avid writer committed to creative, high-quality research and news reportage. She has considerable experience in writing and reporting across a variety of platforms including print and online.

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