The Nigerian Naira has been ranked as the ninth weakest currency in Africa, according to a Forbes currency calculator report for September 2025, underscoring the lingering pressure on Nigeria’s economy despite recent signs of easing inflation.
The Forbes currency calculator, which sources real-time foreign exchange market data via the Open Exchange Rates API, updates every five minutes to reflect live trading values.
The system captures the impact of demand and supply, market sentiment, and broader economic conditions on each nation’s currency performance.
According to the data, the São Tomé & Príncipe Dobra (22,282 per $1) topped the list of Africa’s weakest currencies, followed by the Sierra Leonean Leone (20,970), Guinean Franc (8,680), Ugandan Shilling (3,503), and Burundian Franc (2,968). Others on the list include the Congolese Franc (2,811), Tanzanian Shilling (2,465), Malawian Kwacha (1,737), the Nigerian Naira (₦1,490 per $1), and the Rwandan Franc (1,448).
In contrast, the Tunisian Dinar (2.90 per $1), Libyan Dinar (5.40), Moroccan Dirham (9.91), Ghanaian Cedi (12.31), and Botswanan Pula (14.15) were ranked as the five strongest currencies in Africa.
The continent has 54 recognised countries, according to the United Nations and geographic data sources.
Meanwhile, Nigeria’s inflation rate showed significant improvement in 2025, marking a rare disinflationary trend.
The National Bureau of Statistics (NBS) reported that the country’s headline inflation fell from 24.5% in January to 20.12% in August, its fifth consecutive month of decline.
The trend is attributed to stable foreign exchange inflows from oil exports and remittances, better agricultural yields, and the Central Bank of Nigeria’s monetary policy, which held the benchmark rate at 27.5%.
The Independent Media and Policy Initiative (IMPI) had noted that inflation had slowed sharply in the year’s first eight months.
IMPI chairman Dr Omoniyi Akinsiju said, “Nigeria recorded a rare disinflation in 2025, with inflation falling from 24.5% in January to 20.12% in August, the sharpest mid-year slowdown in over a decade.”
The IMPI forecasts that inflation could drop to 17% by December 2025, signalling continued disinflation and easing pressure on consumers.
