Aliko Dangote, chairman of the Dangote Group, has projected that the naira could strengthen to about ₦1,100 to the dollar in 2026, citing the impact of recent economic policies and growing domestic production.
Dangote made the remarks on Tuesday at the launch of the National Industrial Policy 2025 by the Federal Government of Nigeria. He noted that the naira has already shown signs of recovery, trading around ₦1,335.95/$ at the official market and about ₦1,380/$ at the parallel market.
According to him, Nigeria has strong potential for large-scale consumption, industrial expansion, and higher disposable incomes if import dependence is reduced. He said manufacturers are beginning to feel the positive effects of government reforms and stressed that local production is key to sustaining currency stability.
Dangote added that while a stronger naira could reduce prices, Nigeria must move away from being import-driven and focus on producing what it consumes.
Earlier this month, Femi Otedola, chairman of First HoldCo, also expressed optimism that the naira could trade below ₦1,000/$ before the end of the year as domestic refining gains momentum.