The Dangote Group Chairman, Aliko Dangote, has projected a stronger naira this year, suggesting the local currency could reach ₦1,100 to $1, and potentially hit ₦1,000 if reforms continue to take hold.

Dangote made the comments on Tuesday at the launch of the Nigeria Industrial Policy in Abuja, an event attended by Vice President Kashim Shettima and other top dignitaries.

“Today, the dollar is ₦1,340. With government policies and import restrictions, the currency this year could be as low as ₦1,100 if we are lucky,” Dangote said. He cautioned, however, that a stronger naira could reduce import costs, which would lower prices in the economy, highlighting Nigeria’s heavy reliance on imports. “We should be manufacturing all the things that we need,” he stressed.

Dangote also called for full support of local investors, emphasizing the need for infrastructure improvements, especially reliable power, to facilitate industrial growth and job creation.

The remarks follow similar predictions from , Chairman of First HoldCo, who also projected the naira could reach ₦1,000/$1 before year-end, citing expanded local refinery capacity.

Vice President Shettima, speaking at the event, highlighted the crucial role of the private sector, noting that Dangote Cement alone contributed ₦900 billion in taxes in 2025. The Nigeria Industrial Policy aims to drive value addition, strengthen industrial linkages, enhance export competitiveness, and boost overall economic growth.

The launch attracted officials including the Secretary to the Government of the Federation, George Akume, representatives from the Manufacturers Association of Nigeria (MAN), the United Nations, and top industry leaders.