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Naira-Brent Crude Uncoupling: Charting Nigeria’s economic independence - BUSINESSDAY
* For more than four decades, oil has dictated naira stability * But in 2025, when oil prices plunged, the naira didn’t flinch! For the first time in many decades, Nigeria is experiencing a significant shift: the naira is starting to detach from the influence of global oil prices.
Previously known as a typical “commodity currency,” the naira’s value historically fluctuated with Brent crude. However, recent developments indicate a quiet revolution.
Despite lower oil prices for most of 2025, market data sh* For more than four decades, oil has dictated naira stability * But in 2025, when oil prices plunged, the naira didn’t flinch! For the first time in many decades, Nigeria is experiencing a significant shift: the naira is starting to detach from the influence of global oil prices.
Previously known as a typical “commodity currency,” the naira’s value historically fluctuated with Brent crude. However, recent developments indicate a quiet revolution.
