Chairman of the Dangote Group, Aliko Dangote, has projected that the naira may strengthen to as little as N1,100 to the greenback this yr, pushed by the Federal Authorities’s industrial and {economic} reform insurance policies.
Dangote, nevertheless, famous that the one issue that might forestall such appreciation is that if the Federal Authorities intentionally permits the naira to stay weaker to be able to increase naira-denominated income.
He made the remarks on Tuesday, February 17, 2026, whereas talking on the launch of the Nigeria Industrial Coverage in Abuja. The occasion was attended by Vice President Kashim Shettima and different prime authorities officers.
Dangote stated ongoing reforms are already yielding constructive outcomes, notably for producers.
He added that decreasing imports and strengthening native manufacturing would ease stress on international change demand and help foreign money appreciation.
Dangote additionally known as for stronger safety for native traders via focused incentives and improved infrastructure, particularly dependable electrical energy, which he described as vital to industrial development.
He pressured that whereas the economic coverage is well-conceived, it should be backed by full help for industrialists to attain job creation and sustainable {economic} development.
If the naira appreciates towards N1,100/$1 and even N1,000/$1, the potential {economic} influence may embody:
Nevertheless, analysts warning that change fee efficiency is determined by a number of variables, together with oil costs, international capital inflows, financial coverage self-discipline, and international {economic} circumstances.
Sustained appreciation would require constant foreign exchange provide, fiscal self-discipline, and continued structural reforms geared toward boosting home manufacturing and exports.
In a associated growth, billionaire businessman Femi Otedola not too long ago projected that the naira may strengthen to beneath N1,000 per greenback earlier than year-end, citing the attainment of full capability by the Dangote Petroleum Refinery.
Otedola, Chairman of First Holdco, described the refinery’s skill to produce as much as 75 million litres of petrol each day as a possible turning level for Nigeria’s international change outlook, noting that decreased gasoline imports may considerably ease stress on the naira.
