Nigeria, May 30 -- A fresh wave of currency devaluation will hit big African economies in 2025 as Nigeria's naira is projected to decline by at least six percent against the US dollar.

The finding, included in the latest African Economic Outlook 2025 report released by the African Development Bank (AfDB), causes fresh concern about the stability of African currencies as global economic pressure continues to increase.

The study predicted that 21 out of 54 African currencies would depreciate over the next year. The reason is diminishing export revenues, lack of foreign capital, and inherent vulnerability in home countries. In Nigeria and other such resource-based economies, this is further augmented by poor foreign reserves and fiscal pre...