By Khadija Muhammed
The President of the Dangote Group, Aliko Dangote, has said the naira could become stronger and trade at N1,100 to one US dollar in 2026.
He made this statement on Tuesday during the launch of Nigeria’s Industrial Policy in Abuja. The event was attended by Vice President Kashim Shettima and other top government officials.
At the moment, the naira trades at about N1,300 to one dollar. But Dangote said recent government policies are already showing good results. He said manufacturers are happy with the reforms.
According to him, if the government reduces importation and supports local production, the naira could gain more strength.
He explained that Nigeria depends too much on imported goods. He said the country should focus more on producing what it needs locally. He believes this will help the currency grow stronger.
Dangote also asked the government to protect local investors by providing incentives and better infrastructure. He mentioned electricity as one of the biggest challenges facing industries.
He said industrial growth is important for job creation and economic development, but policies must fully support local businesses.
Meanwhile, Nigeria’s stock market is also performing well. According to a Bloomberg report, Nigerian stocks recorded the second-highest dollar returns globally in 2026, rising 31 percent.
Market value on the Nigerian Exchange Limited is now about 84 billion dollars. This is about 58 percent higher than before the naira lost value in 2024.
Businessman Femi Otedola had earlier predicted that the naira could trade below N1,000 to one dollar before the end of 2026.
Otedola said that the Dangote Petroleum Refinery, when it reaches full production capacity of 650,000 barrels per day, would help Nigeria save foreign exchange. He said the refinery can produce up to 75 million litres of petrol daily and reduce the country’s dependence on imports.
Recently, the naira has shown signs of improvement. It is trading at around N1,354 per dollar in the official market and between N1,430 and N1,440 on the parallel market its strongest level in more than two years.
Experts say if local production increases and government reforms continue, the naira may become even stronger in the coming months.
