Dangote predicts naira could strengthen to ₦1,100/$1 in 2026
Africa’s richest man, Aliko Dangote, says the naira could appreciate to around ₦1,100 to the US dollar before the end of 2026 if current government policies and import controls are sustained. He spoke in Abuja during the launch of the Nigeria Industrial Policy, attended by Vice President Kashim Shettima and top private sector leaders. Dangote noted that although the naira is currently trading around ₦1,300–₦1,340 on the official market, recent reforms are already easing pressure on the currency. He argued that blocking “reckless” imports that can be produced locally, alongside tighter foreign exchange management, will help further strengthen the naira. “I can assure you that, with what I know, by blocking all this importation, the currency this year will be as low as ₦1,100 if we are lucky,” he said, while suggesting government might even need to slow the naira’s […]
