The Nigerian naira faced a sharp drop against the U.S. dollar between March 28 and April 4, 2025, sending social media into a frenzy and economic analysts on high alert. The plunge followed the rollout of new tariffs by former U.S. President Donald Trump, which shook global markets and didn’t spare Nigeria.
According to data from the Central Bank of Nigeria (CBN), the official exchange rate slipped from ₦1,536.82/$ to ₦1,567.02/$—a ₦30 slide in just seven days. The black market echoed the same pain, with the naira falling from ₦1,550 to ₦1,560 per dollar.
The news sent shockwaves online as Nigerians expressed concern over rising import costs, unstable forex, and inflation fears. Economists pointed to the naira’s fragility amid global policy changes and emphasized the urgent need for stronger financial defenses. With the Trump-era tariffs taking full effect, the message is clear: Nigeria must brace for more economic aftershocks and rethink its currency resilience strategies ASAP.