A new survey by the Central Bank of Nigeria (CBN) has shown that many businesses in the country are optimistic the naira will strengthen against the US dollar within the next six months.

The latest Business Expectations Survey revealed that a significant number of companies anticipate an appreciation in the value of the naira. This positive outlook comes as the currency has shown some stability in recent months after a long period of sharp depreciation.

Businesses cited expected improvements in foreign exchange supply, higher oil production, and ongoing economic reforms as reasons for their confidence. Many respondents believe these factors will help reduce pressure on the naira and support its recovery.

The survey also showed that manufacturers and importers are hoping a stronger naira will lower the cost of raw materials and finished goods, which could eventually ease inflation and improve business planning.

However, some analysts remain cautious. They note that while short-term expectations are positive, sustained naira appreciation will depend on consistent foreign reserves inflow, reduced import dependence, and overall macroeconomic stability.

The CBN has continued its efforts to stabilise the foreign exchange market through various interventions and policies. The apex bank said the improved business sentiment is an encouraging sign that its reforms are beginning to influence market expectations.

For ordinary Nigerians, a stronger naira would mean cheaper imported goods, lower inflation, and better purchasing power. Many businesses say this would help them expand operations and create more jobs.

This latest survey reflects growing hope among Nigerian enterprises that the worst of the currency crisis may be behind them, even as they continue to call for more policies that support local production and attract foreign investment.