Dangote Predicts Naira May Hit N1,100/$ by 2026

Aliko Dangote, Chairman of Dangote Group, stated that the Naira may depreciate to N1,100 per dollar by the end of 2026, attributing this potential decline to the federal government's industrial economic reform agenda. He emphasized that these reforms are crucial for stabilizing the currency.

During the recent launch of Nigeria's industrial policy in Abuja, which was attended by Vice President Kashim Shettima and senior government officials, Dangote noted that the government's reform policies have already yielded tangible benefits for the manufacturing sector. He highlighted the importance of reducing Nigeria's heavy reliance on imports and strengthening domestic production, which would significantly lower foreign exchange demand and support a stronger Naira.

However, he warned that the government might deliberately restrain further appreciation of the Naira to maintain revenue collection, creating a "catch-22" situation where a stronger currency could reduce import costs but also affect the economy negatively.