Dangote Forecasts Naira Strengthening to N1,100/$ by 2026

Aliko Dangote, Chairman of Dangote Group, predicted on Tuesday that the Nigerian naira could strengthen to N1,100 per dollar by 2026. He made this statement during the launch of the National Industrial Policy 2025.

Recently, the naira appreciated to N1,335.95 per dollar in the official market and N1,380 in the black market. Dangote emphasized the country's potential for large-scale consumption and industrial growth, suggesting that government policies would yield positive results for the economy.

He noted that the naira's strengthening could lead to a challenging situation for import-dependent sectors, as a stronger naira would mean lower prices for imports. Femi Otedola, Chairman of First Holdco, also expressed optimism that the naira would trade below N1,000 by the end of the year, contingent on the full implementation of domestic refining.