Aliko Dangote Forecasts Naira Appreciation to ₦1,100
Analysis based on 10 articles · First reported Feb 18, 2026 · Last updated Feb 18, 2026
The market is positively impacted by the projected strengthening of the Nigeria===Nigerian naira, which is expected to reduce inflation and lower import costs. This outlook, supported by industrial policies and increased domestic production from entities like Dangote Group===Dangote Petroleum Refinery, has led to impressive gains in Nigerian equities and increased investor confidence.
Aliko Dangote, chairman of Dangote Group, has forecasted a significant appreciation of the Nigeria===Nigerian naira, predicting it could strengthen to ₦1,100 per US dollar by the end of 2026. This optimistic projection was made during the launch of Nigeria's Industrial Policy in Abuja, an event attended by Vice President Kashim Shettima. Dangote attributed this positive momentum to ongoing government reforms, emphasizing the need to curb import dependence and boost domestic manufacturing. He highlighted that a stronger naira would lower costs in an import-dependent economy but urged a shift towards local production. Billionaire Femi Otedola echoed similar sentiments, suggesting the naira could trade below ₦1,000 per dollar before year-end, driven by the full operational ramp-up of the Dangote Group===Dangote Petroleum Refinery. The refinery, now at its 650,000 barrels per day capacity, is expected to significantly reduce fuel imports and conserve foreign exchange. Nigerian equities have already responded positively, with the benchmark index delivering strong dollar returns and recovering substantial market value.
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