Aliko Dangote, chairman of Dangote Group, has projected that the naira could appreciate to about ₦1,100 to the dollar in 2026, citing the impact of recent economic policies and a push to curb imports.

Dangote made the projection on Tuesday at the launch of the National Industrial Policy 2025 by the Federal Government of Nigeria. His comments came as the naira strengthened to ₦1,335.95/$ at the official market and about ₦1,380/$ on the parallel market.

He said policy reforms are beginning to yield results, boosting confidence among manufacturers and laying the groundwork for higher consumption, industrial growth, and rising disposable incomes. According to him, stricter controls on imports and a stronger manufacturing base could drive further gains for the local currency, though he noted the policy trade-offs of a rapidly appreciating naira in an import-dependent economy.

Dangote urged a sustained focus on domestic production to reduce reliance on imports and stabilise prices.
His optimism echoes recent comments by Femi Otedola, chairman of First HoldCo, who said the naira could trade below ₦1,000/$ before year-end as domestic refining ramps up.