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

Aliko Dangote, Chairman of Dangote Group, has projected that the Naira could appreciate to N1,100 per dollar by the end of 2026. This statement was made during the launch of the National Industrial Policy 2025, where he discussed the recent gains of the Naira, which traded at N1,335.95 per dollar in the official market and N1,380 per dollar in the parallel market.

Dangote attributed the currency's recent performance to policy measures introduced by the current administration, stating that manufacturers are beginning to see positive results. He expressed optimism that further restrictions on imports would increase domestic production and strengthen the currency.

However, he noted that a stronger Naira could create a policy dilemma for the government, as it may lead to a decrease in imports, which could negatively impact the economy. He emphasized that the government might need to manage the Naira's strength carefully to avoid adverse effects.