๐๐ฎ๐ป๐ด๐ผ๐๐ฒ ๐ฝ๐ฟ๐ฒ๐ฑ๐ถ๐ฐ๐๐ ๐ป๐ฎ๐ถ๐ฟ๐ฎ ๐๐ถ๐น๐น ๐ฎ๐ฝ๐ฝ๐ฟ๐ฒ๐ฐ๐ถ๐ฎ๐๐ฒ ๐๐ผ ๐ก1,100/$ ๐๐ต๐ถ๐ ๐๐ฒ๐ฎ๐ฟ
Africaโs richest businessman and Chairman of the Dangote Group, Aliko Dangote, has projected that Nigeriaโs currency, the naira, could strengthen to about N1,100 per dollar in 2026, citing ongoing economic reforms and increasing industrial capacity within the country.
Dangote made the projection on Tuesday while speaking at the launch of the National Industrial Policy 2025 by the Federal Government. According to him, improved local production, reduced dependence on imports, and stronger foreign exchange inflows are expected to stabilise the currency in the coming months.
He noted that major investments in manufacturing โ particularly in sectors such as refining, petrochemicals, cement, and agriculture โ would help conserve foreign exchange and boost Nigeriaโs export earnings. Dangote stressed that increasing domestic production remains one of the most effective ways to strengthen the naira and drive economic growth.
The business mogul also commended the Federal Governmentโs industrialisation drive, saying policies that support local industries and encourage investment will gradually reduce pressure on the exchange rate. He added that as more industries become export-oriented, Nigeria could witness improved balance of trade and stronger investor confidence.
Economic analysts have expressed mixed reactions to the projection, with some agreeing that ongoing reforms and industrial expansion could support currency stability, while others caution that global market trends, inflation, and foreign reserve levels will also play critical roles in determining the nairaโs trajectory.
The National Industrial Policy 2025 aims to position Nigeria as a leading manufacturing hub in Africa by promoting value addition, job creation, and technological development. Officials say the initiative will prioritise partnerships between government and the private sector to accelerate industrial growth.
Dangote reiterated that consistent policy implementation and improved infrastructure will be key to achieving the projected appreciation of the naira, urging stakeholders to support initiatives that strengthen local production and economic resilience.
