The dataset shows the expected future exchange rates between the Nigerian naira and the US dollar for specific dates in the future, including intervals of 1 month, 2 months, 3 months, 6 months, and 12 months. The forward-looking data is crucial in strategic planning, anticipating currency-related risks and opportunities to ensure informed decision-making throughout an investment lifecycle.

The Naira is expected to find stability in 2024 after a turbulent 2023. This comes as exchange rate reforms should improve dollar liquidity, and inflation is expected to subside as a result of base effects. While exchange rate reforms and continued dollar shortage have led to a hard start to the year, we expect the market to cool by Q2 2024.

Despite our anticipation of the Naira stabilising by the end of Q2 2024, inflationary pressures which have eroded the value of consumers' incomes, still linger. Low- to middle-income consumers are likely to prioritise essential goods, especially sachet and miniature products, as they navigate the challenges of high inflation. Thus, businesses that adapt their strategies to cater to the needs of this demographic stand to benefit from sustained success. On the other hand, higher-income consumers will seek cost-effective alternatives that still exude a sense of luxury. This behaviour presents an opportunity for businesses to introduce innovative products and services that offer premium quality without the premium price tag. Brands capable of delivering such value propositions are poised to gain a competitive advantage in the market.