Naira Will Rise To N1,100/$ This Year

President/CEO of Dangote Group, Aliko Dangote, has
forecast that the naira strengthening to N1,100 per dollar in 2026.
He made the remarks on Tuesday at the federal government’s launch of the National Industrial Policy 2025.
The currency has gained ground lately, trading at N1,335.95/$ in the official market and N1,380/$ in the parallel market on Tuesday.

The business magnate highlighted Nigeria’s capacity for robust consumption, industrial expansion, and rising disposable incomes amid these gains.
“Your Excellency, the policies your administration has rolled out are yielding visible results, and manufacturers are thrilled,” Dangote noted.”

Right now, the dollar stands at about N1,340. Mr. Vice-President, based on my insights, curbing imports and similar measures could push the naira down to N1,100 this year—if we’re fortunate.”
The challenge is that a stronger naira might prompt the government to intervene to avoid collecting less revenue in naira terms.”

But it’s a dilemma: a firmer currency would lower prices across the board, given our heavy reliance on imports—which we must change by producing what we consume.”

On February 12, Femi Otedola, Chairman of First HoldCo, voiced similar confidence, predicting the naira would trade below N1,000/$ by year-end as local refining ramps up fully.