Dangote Predicts Naira Will Appreciate To ₦1,100/$ This Year - Business

Dangote Predicts Naira Will Appreciate To ₦1,100/$ This Year - Business - Nairaland

Nairaland Forum › Nairaland General › Business › Dangote Predicts Naira Will Appreciate To ₦1,100/$ This Year (7794 Views)

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Dangote Predicts Naira Will Appreciate To ₦1,100/$ This Year by dre11(op): 10:12am On Feb 18

Aliko Dangote, chairman of the Dangote Group, has predicted that the naira will strengthen to N1,100 per dollar in 2026.

Dangote spoke on Tuesday during the launch of the national industrial policy 2025 by the federal government.

The naira has strengthened in recent weeks, appreciating to N1,335.95 per dollar at the official market and N1,380/$ at the black market on Tuesday.

Commenting on the development, the billionaire businessman said the country has the potential to generate large-scale consumption, industrial growth, and disposable incomes.

“I mean today if you look at it, your excellency, I believe with the policies that you have implemented in government, people now have started seeing the result and manufacturers are very very happy,” Dangote said.

“Today, the dollar is N1,340. Mr. Vice-President, I can assure you with what I know, blocking all this importation and co, naira this year will be as low as N1,100 if we are lucky.

“The only thing is for maybe the government to stop the naira from getting stronger so that they will keep collecting more naira.

“But it’s a catch-22 situation where, now, if the naira gets stronger it means that everything will go down. Everything will go down because we are an import-based country which we shouldn’t be.

“What you should be is to manufacture all the things that we need.”

On February 12, Femi Otedola, the chairman of First HoldCo, expressed optimism that the naira will strengthen meaningfully and will trade below N1,000/$1 before year-end as domestic refining is fully underway.

https://www.thecable.ng/dangote-predicts-naira-will-appreciate-to-n1100-this-year/

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Re: Dangote Predicts Naira Will Appreciate To ₦1,100/$ This Year by Sermwell(m): 10:37am On Feb 18

How much was Naira before these fraud of a government came in? Now we want to be celebrating fraud in the name of achievement! You can fool some people sometimes, but you can't fool all the people all the time! grin

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Re: Dangote Predicts Naira Will Appreciate To ₦1,100/$ This Year by josielewa(m): 10:38am On Feb 18

I PRAY SO, LET IT DROP TO THE 2014 ERA PRICE, LIFE WAS A BIT FAIR THEN. I WILL BE GLAD IF IT CAN EVEN FALL BELOW 800$ THIS YEAR

Re: Dangote Predicts Naira Will Appreciate To ₦1,100/$ This Year by dgr8truth(m): 10:38am On Feb 18*

The NNPC remains one of the greatest hurdles to our economic stability. Since the Dangote Refinery came online, we have already begun to see the Naira appreciate—a trend that should accelerate as we stop hemorrhaging over 80% of our foreign exchange earnings on fuel imports.

Imagine a Nigeria with multiple functional refineries of this scale. The economic benefits would be enormous: stabilized currency, lower logistics costs, and massive job creation. To get there, the primary duty of the government must shift; they must move away from direct control and instead focus on creating a conducive environment for the private sector to thrive.

Historically, the NNPC has operated in a way that feels anti-progress. They seem fully aware of how systemic corruption impacts the Nigerian populace, yet they have consistently prioritized institutional inertia over national reason. As a citizens, we must remain vigilant against any institution that appears more committed to our impoverishment than our growth.

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Re: Dangote Predicts Naira Will Appreciate To ₦1,100/$ This Year by LofP(m): 10:39am On Feb 18

Voodoo economics. Naira is going back above #1500 before the end of the year.

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Re: Dangote Predicts Naira Will Appreciate To ₦1,100/$ This Year by Baawaa(m): 10:39am On Feb 18

So pathetic,1 dollar for 1100

Re: Dangote Predicts Naira Will Appreciate To ₦1,100/$ This Year by nairalanda1(m): 10:40am On Feb 18

So long as Nigeria is not producing much more manufactured goods and services, any appreciation of the naira is temporary and fleeting

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Re: Dangote Predicts Naira Will Appreciate To ₦1,100/$ This Year by nairalanda1(m): 10:41am On Feb 18

Sermwell:
How much was Naira before these fraud of a government came in? Now we want to be celebrating fraud in the name of achievement! You can fool some people sometimes, but you can't fool all the people all the time!

200 naira to a dollar plus a lot of debt taken on plus a lot of oil revenue spent defending the naira.

(APC is still a mess tho).

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Re: Dangote Predicts Naira Will Appreciate To ₦1,100/$ This Year by Razzness(m): 10:42am On Feb 18

Even if 1 naira becomes equal to 1 dollar, wailers will still wail.

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Re: Dangote Predicts Naira Will Appreciate To ₦1,100/$ This Year by Hungrychicken(m): 10:43am On Feb 18

They met naira at 800/$ so why are we acting like they're not the one who caused this problem

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Re: Dangote Predicts Naira Will Appreciate To ₦1,100/$ This Year by nedu666: 10:43am On Feb 18

Which imports does dangote want govt to block. Of course we know who he is referring to

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Re: Dangote Predicts Naira Will Appreciate To ₦1,100/$ This Year by Hungrychicken(m): 10:45am On Feb 18

Naira was almost 1,400+ for 2yrs. Next year na election all of a sudden e don de come down

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Re: Dangote Predicts Naira Will Appreciate To ₦1,100/$ This Year by DeltaBachelor(m): 10:46am On Feb 18

Alhaji Aliko my man. Nothing do you baba. Flex your life abeg grin

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Re: Dangote Predicts Naira Will Appreciate To ₦1,100/$ This Year by crossbreedwears(m): 10:46am On Feb 18

Is 1,100/$ the best the government can do. If a Dollar doesn't come down as low as 500naira then we are still in a big mess

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Re: Dangote Predicts Naira Will Appreciate To ₦1,100/$ This Year by crossbreedwears(m): 10:47am On Feb 18

800 naira is still on high side

josielewa:
I PRAY SO, LET IT DROP TO THE 2014 ERA PRICE, LIFE WAS A BIT FAIR THEN. I WILL BE GLAD IF IT CAN EVEN FALL BELOW 800$ THIS YEAR

1 Like

Re: Dangote Predicts Naira Will Appreciate To ₦1,100/$ This Year by CodeTemplarr: 10:48am On Feb 18

Honest assessment or Tinubu's reelection inspired projection?

Re: Dangote Predicts Naira Will Appreciate To ₦1,100/$ This Year by CodeTemplarr: 10:49am On Feb 18

crossbreedwears:
Is 1,100/$ the best the government can do. If a Dollar doesn't come down as low as 500naira then we are still in a big mess

End of the year is not the end of govt.

Re: Dangote Predicts Naira Will Appreciate To ₦1,100/$ This Year by Donaldoni: 10:50am On Feb 18

P1iggzz will still grunt...comparing pre-subsiy and post-subsidy era.

Where when you when Emefiele invoke NGN25 Trillion naira from thin air and injected it into the economy huh

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Re: Dangote Predicts Naira Will Appreciate To ₦1,100/$ This Year by Aidoko2: 10:51am On Feb 18

For those still asking “how much was the Naira before the current government came in”, rest your case , This is not artificial economics like we had before. After Nigeria stepped away from agriculture in the 1970s, your economy was a “RUB and SHINE”.
Welcome to the real economy where export and a floated economy is indeed the natural economy

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Re: Dangote Predicts Naira Will Appreciate To ₦1,100/$ This Year by ernjoyeer: 10:52am On Feb 18

LofP:
Voodoo economics. Naira is going back above #1500 before the end of the year.

Hmmm,but it is the best for this nation?

Re: Dangote Predicts Naira Will Appreciate To ₦1,100/$ This Year by Obaofaba: 10:53am On Feb 18

God bless the President of the federal Republic of Nigeria.

Imagine without subsidy, naira is bouncing back.

Even during the subsidy era, not everyone can get it at N700 but now, people seems not be interested in the US dollars like before.

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Re: Dangote Predicts Naira Will Appreciate To ₦1,100/$ This Year by crossbreedwears(m): 10:54am On Feb 18

I'm currently referring to the present Administration

CodeTemplarr:
End of the year is not the end of govt.

Re: Dangote Predicts Naira Will Appreciate To ₦1,100/$ This Year by Lanretoye(m): 10:56am On Feb 18

Otedola also predicted 1k per dollar too

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Re: Dangote Predicts Naira Will Appreciate To ₦1,100/$ This Year by Perewenkle1: 10:57am On Feb 18

While we welcome the Naira appreciation, we hope the cost of living is also dropping?

Re: Dangote Predicts Naira Will Appreciate To ₦1,100/$ This Year by Obaofaba: 10:58am On Feb 18

Nigeria is on an irreversible part to prosperity.

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Re: Dangote Predicts Naira Will Appreciate To ₦1,100/$ This Year by Basic123: 10:59am On Feb 18

Sermwell:
How much was Naira before these fraud of a government came in? Now we want to be celebrating fraud in the name of achievement! You can fool some people sometimes, but you can't fool all the people all the time!

Hey! before you gaslight the gullible ones

How much was being used to subsidize it then?

And what was Peter OBI and Atiku plan on foreign exchange in 2023?

What is their plan if they become president?

Are they going to reverse floatation?

8 Likes