President Bola Ahmed Tinubu has declared that Nigeria’s economy is witnessing greater stability, with the naira showing significant recovery against the United States dollar.
Speaking on Tuesday, 2 September, 2025, the President noted that when he assumed office, the exchange rate had plummeted to as low as N1,900 to a dollar.
He, however, highlighted that recent fiscal and monetary reforms have helped strengthen the local currency, which now trades at about N1,450 to a dollar.
“The economy has stabilized, nobody is trading a piece of paper for an exchange rate anymore. When I took over, it was N1,900 to a dollar, it’s N1,450 now. It’s been stabilizing there, you don’t have to know Cardoso before you get your foreign exchange,” Tinubu said, in reference to Central Bank Governor Olayemi Cardoso.
The President assured that his administration remains committed to implementing policies that will ensure long-term economic recovery.
