The Nigerian Naira appreciated against the United States Dollar at the official foreign exchange market on Tuesday for the first time in three weeks.

The Central Bank of Nigeria’s data showed that the Naira dropped to N1,401.40 per dollar on Tuesday, down from N1,405.62 on Monday.

This means that on a day-to-day basis, the naira strengthened by N4.2 against the dollar.

The last time the naira appreciated at the official market was on February 17, at N1,335.96 per dollar; since then, the local currency has continued its depreciation rally.

Meanwhile, at the black market, the naira remained flat at N1,420 per dollar on Tuesday, the same exchange rate as on Monday.

This comes as Brent and West Texas Intermediate crude blends dropped below $90 per barrel on Tuesday for the first time since the Iran-United States-Israel war started on February 28th, 2026.

As a result of declining global crude oil prices, Dangote Refinery had a lower gantry petrol price of N1075 per liter, which had hiked three times.

Nigeria’s that external reserves stood at $49.94 billion on March 6, according to the apex bank.