Aliko Dangote Naira Prediction sees the currency strengthening to N1,100 per dollar amid reforms and industrial policy push

Aliko Dangote, Chairman of Dangote Group, has predicted that the naira could strengthen to N1,100 against the United States dollar this year, citing ongoing government reforms and industrial policy shifts.

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Aliko Dangote made the remarks on Tuesday at the launch of Nigeria’s Industrial Policy in Abuja.

The event was attended by Vice President Kashim Shettima and senior government officials.

Speaking at the forum, Aliko Dangote said recent policy measures have begun to yield visible results for manufacturers.

He stated that confidence among industrial players is improving.

Aliko Dangote said that although the naira currently trades around N1,300 to the dollar, he believes the currency could appreciate further if import dependence is reduced.

He argued that blocking excessive importation would ease pressure on foreign exchange demand.

“The currency this year will be as low as N1,100 if we are lucky,” Aliko Dangote said, while acknowledging the complex balance between currency strength and government revenue.

Aliko Dangote described the situation as a catch 22. He explained that a stronger naira would reduce import costs but could affect fiscal inflows.

He stressed that Nigeria must shift from an import based economy to one driven by domestic manufacturing.

The business leader also called for stronger protection and incentives for local investors. Aliko Dangote highlighted persistent power supply challenges and urged government to back policy reforms with infrastructure support.

Market analysts note that the Aliko Dangote Naira Prediction comes amid renewed optimism in Nigeria’s capital markets.

According to Bloomberg, Nigerian equities have delivered the world’s second best dollar returns in 2026, rising by 31 percent and recovering about 21 billion dollars in market value lost after the 2024 devaluation.

Total market capitalisation on the Lagos Exchange is now estimated at about 84 billion dollars, roughly 58 percent higher than pre devaluation levels.

Separately, Femi Otedola previously projected that the naira could trade below N1,000 to the dollar before the end of 2026.

Femi Otedola linked his outlook to the full production capacity of the Dangote Petroleum Refinery, which is expected to refine 650,000 barrels per day.

Femi Otedola described the refinery as transformational, with the capacity to supply up to 75 million litres of Premium Motor Spirit daily and conserve foreign exchange.

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The naira has recently strengthened at the official foreign exchange market, trading around N1,354 to the dollar, while the parallel market rate stands between N1,430 and N1,440, according to market sources.