The World Bank’s latest Africa Economic Update highlights the naira as one of the continent’s most resilient currencies during the second quarter of 2026. Despite widespread regional exchange rate volatility caused by global geopolitical tensions and energy price fluctuations, the naira’s maximum depreciation was capped at 2.6%. The report credits Nigeria’s status as a major crude oil exporter for providing critical support through increased foreign exchange inflows, helping the currency recover from earlier Q2 lows. By August, the naira had regained ground, outperforming many other African currencies that remained under pressure. This stability aligns with the World Bank’s improved economic growth forecast for Nigeria, which is now projected at 4.3% for 2026.