Chairman of the Dangote Group, Aliko Dangote, has predicted that the naira will strengthen to N1,100 per dollar in 2026.
He stated this on Tuesday during the launch of the National Industrial Policy 2025 by the federal government.
On Tuesday, the Naira appreciated to N1,337/$ at the official foreign exchange market on Tuesday, up from N1,344 recorded on Monday, while at the parallel market, it was N1,380/$.
Dangote said Nigeria has the potential to generate large-scale consumption, industrial growth, and disposable incomes.
“I mean today if you look at it, your excellency, I believe with the policies that you have implemented in government, people now have started seeing the result and manufacturers are very very happy. Today, the dollar is N1,340. Mr. Vice-President, I can assure you with what I know, blocking all this importation and co, naira this year will be as low as N1,100 if we are lucky.
“The only thing is for maybe the government to stop the naira from getting stronger so that they will keep collecting more naira,” he stated.
Continuing, the billionaire businessman said: “But it’s a catch-22 situation where, now, if the naira gets stronger it means that everything will go down. Everything will go down because we are an import-based country which we shouldn’t be. What you should be is to manufacture all the things that we need.”
Earlier this month, businessman, Femi Otedola, expressed optimism that the naira will trade below N1,000/$1 before year-end, with domestic refining fully underway.
