EUR/NGN Price & Performance (EURNGN)

The Nigerian Naira's exchange rate against the Euro has shown persistent weakness. Recent data reveals a steady decline, with the rate falling from 0.00064207 EUR in late January to 0.00057244 EUR by early February. This trend highlights ongoing currency challenges within Nigeria's economic landscape.12

The Nigerian Exchange (NGX) All-Share Index saw a marginal rise of 0.04%, closing at 105,551.39. Despite the increase, trading volume dropped by 21.7%, while turnover surged nearly 50%, signaling institutional shifts in large-cap stocks. Key gainers included MAYBAKER, up 10%, while OANDO faced a 5.66% decline.34

Nigeria's 3.84% GDP growth in Q4 2024, the highest in three years, has been met with tempered optimism. While stakeholders praise the resilience, concerns linger over structural challenges. Analysts emphasize the need for strategic reforms to sustain this momentum, particularly in key sectors driving the economy.34