Chairman of the Dangote Group, Aliko Dangote, has projected that the naira might strengthen to as little as N1,100 to the greenback this 12 months, pushed by the Federal Authorities’s industrial and financial 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 as a way to enhance 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 high authorities officers.
What he’s saying
Dangote mentioned ongoing reforms are already yielding optimistic outcomes, notably for producers.
- “I imply, at present, should you take a look at it, Your Excellency, I imagine with the insurance policies that you’ve got carried out in authorities, folks now have began seeing the outcome, and producers are very, very completely satisfied,” he mentioned.
He added that decreasing imports and strengthening native manufacturing would ease stress on overseas trade demand and help foreign money appreciation.
- “At the moment, the greenback is N1,340. Mr. Vice-President, I can guarantee you that, with what I do know, by blocking all this importation, the foreign money this 12 months will probably be as little as N1,100 if we’re fortunate. The one factor is for, possibly, the federal government to cease the naira from getting stronger in order that they’ll preserve amassing extra naira.
- “However it’s a catch-22 scenario the place, now, if the naira will get stronger, it implies that all the pieces will go down. The whole lot will go down as a result of we’re an import-based nation, which we shouldn’t be. What we needs to be doing is manufacturing all of the issues that we’d like.”
Dangote additionally known as for stronger safety for native buyers by way of focused incentives and improved infrastructure, particularly dependable electrical energy, which he described as crucial to industrial progress.
He pressured that whereas the economic coverage is well-conceived, it have to be backed by full help for industrialists to attain job creation and sustainable financial progress.
What this implies
If the naira appreciates towards N1,100/$1 and even N1,000/$1, the potential financial influence might embrace:
- Lowered cost-push inflation
- Decrease costs for imported items and industrial uncooked supplies
- Improved family buying energy
- Higher macroeconomic stability
- Elevated investor confidence
Nonetheless, analysts warning that trade fee efficiency relies on a number of variables, together with oil costs, overseas capital inflows, financial coverage self-discipline, and world financial circumstances.
Sustained appreciation would require constant foreign exchange provide, fiscal self-discipline, and continued structural reforms aimed toward boosting home manufacturing and exports.
What it’s best to know
In a associated growth, billionaire businessman Femi Otedola not too long ago projected that the naira might strengthen to under 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 capacity to produce as much as 75 million litres of petrol every day as a possible turning level for Nigeria’s overseas trade outlook, noting that decreased gasoline imports might considerably ease stress on the naira.
