Aliko Dangote, the chairman of Dangote Group, has projected a significant recovery for the Nigerian Naira, suggesting it could strengthen to N1,100 per dollar by the close of 2026.
Speaking on Tuesday, February 17, at the launch of the National Industrial Policy 2025, Dangote expressed optimism that current government reforms are beginning to yield tangible results for the manufacturing sector.
Despite the Naira closing at N1,335.96 in the official market and trading around N1,388.77 in the parallel market yesterday, Dangote believes a stronger currency is achievable through aggressive import substitution.
Manufacturing over Revenue
While a stronger Naira typically reduces the government’s nominal revenue from dollar-denominated collections, Dangote argued that the broader economic benefits, specifically lower operational costs, outweigh the fiscal drawbacks.
“I can assure you that, with proper measures to block excessive imports, the naira could reach N1,100 this year if we are lucky. The challenge is that a stronger naira could reduce government revenue… but it would also lower costs across the economy. The focus should be on local manufacturing,” Dangote stated.
The Billionaire Consensus?
Dangote’s outlook aligns with recent bullish sentiments from fellow billionaire and First HoldCo chairman, Femi Otedola.
Otedola previously suggested the Naira could even trade below N1,000/$ by year-end, citing a massive reduction in petroleum imports and boosted local oil and gas production as primary catalysts.
Market Snapshot (Feb 17, 2026)
The Central Bank of Nigeria (CBN) and parallel market data reflect a currency currently in search of stability:
| Currency | CBN Official Rate | Parallel Market Rate |
| US Dollar ($) | N1,335.96 | N1,388.77 |
| Euro (€) | N1,579.24 | N1,689.99 |
| Pound (£) | N1,806.75 | N1,939.99 |
The optimistic projections from Nigeria’s top industrialist hinge on the lucky convergence of policy implementation and a drastic reduction in the country’s import bill.
If the Dangote Refinery and other local manufacturers successfully curb the demand for greenbacks, the N1,100 target moves from a prediction to a plausible macroeconomic reality.
