Dollar to naira exchange rate stands at N1,340 to N1,430 in Q1 - CPPE forecasts Q2

The Centre for the Promotion of Private Enterprises (CPPE) reported that the naira traded between N1,340 and N1,430 against the dollar in the official market in the first quarter of 2026. Muda Yusuf, CEO of CPPE, attributed this stability to improved external reserves, which reached about $50 billion. Despite this, the cost-of-living crisis remains severe for many Nigerians, driven by high energy costs and persistent structural challenges within the economy.