Dangote: Naira Could Gain N1,100/$ by the end of 2026

Dangote: Naira Could Gain N1,100/$ by the end of 2026

For a long time, the Nigerian Naira has felt like it was on a downward slide. Everything seemed to get more expensive every month. But recently, two of Nigeria’s most successful businessmen, Aliko Dangote and Femi Otedola, shared some very good news: they believe the Naira is finally getting stronger.

On February 17, 2026, Dangote predicted that the Naira could reach N1,100 per dollar by the end of this year. Considering where we’ve been, that’s a huge improvement.

“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 reason is simple: Nigeria is starting to make things at home instead of buying everything from abroad. 

• For years, Nigeria sent dollars abroad to buy petrol and diesel. Now, the Dangote Refinery is producing these fuels right here. This means we don't need to hunt for as many dollars, which makes our own money more valuable.

• Less Importing, More Building: Dangote argues that if we stop importing things we can make ourselves, the Naira will naturally get stronger.

Market Snapshot (Feb 17, 2026)

The Central Bank of Nigeria (CBN) and parallel market data reflect a currency currently in search of stability:

The Good and the Bad side of this

Dangote admitted there is a small catch. When the Naira is strong, the government actually gets less "paper money" from oil sales (since those are paid in dollars). However, he says this is a good trade-off. Why? Because a stronger Naira makes it cheaper for businesses to run and cheaper for you to buy groceries.

Femi Otedola is even more hopeful, suggesting the rate could even drop below N1,000/$. With the country’s savings (foreign reserves) at their highest point in nearly 20 years, these are not mere guesses; they are based on real changes in the economy.

If these predictions come true, the days of prices jumping every week might finally be over. It’s a bold goal, but for the first time in a while, the Naira is fighting back.