Dangote Urges Nigerians to Sell US Dollars Amid Strengthening Naira
Aliko Dangote, Africa's richest man and founder of Dangote Group, advised Nigerians holding US dollars to sell them immediately as the Naira strengthens. This advice coincides with Dangote's announcement of a $20 billion expansion plan for Dangote Petroleum Refinery.
The Naira recently broke the N1,450 exchange rate threshold against the dollar, appreciating to N1,447 in the official market. Citibank's African economist, David Cowan, predicts a new monetary easing cycle in 2026 due to lower crude oil prices.
The Central Bank of Nigeria (CBN) also reported the Naira's gains against major currencies.
Plus234Feed summary based on reporting from Legit NG. Read the original report below.
Read full article
Continue on Legit NG
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
Dangote to Sell Refinery Shares to Nigerians, Offering Dollar Dividends
Dangote Refinery Shifts to Naira Sales After Government Intervention
Dangote Halts Naira Sales of Petrol Amid Refinery Struggles
Dangote Refinery Resumes Petrol Sales in Naira After Brief Suspension
Dangote to Sell Part of Refinery to Nigerians, Listing on Stock Exchange
Dangote Refinery Halts Naira Petrol Sales, Price Impact Expected
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
