Aliko Dangote, the renowned Chairman of the Dangote Group, shared his optimistic predictions regarding the Nigerian naira during the launch of the Nigeria Industrial Policy in Abuja. He remarked that the naira currently trades around ₦1,300 to a dollar but could strengthen substantially, potentially reaching ₦1,100 against the dollar by the end of the year. Dangote attributed this anticipated strengthening to recent government reforms aimed at stabilizing the economy and supporting local manufacturing.

During his speech, Dangote highlighted the positive impact of the government's policies on manufacturing and economic sentiments in Nigeria. He noted that manufacturers are starting to see favorable results from the reforms, which have the potential to promote local industry and reduce reliance on imports. This sentiment was echoed among other dignitaries present at the policy launch, including Vice President Kashim Shettima, suggesting a united front among government officials and private sector leaders towards economic recovery.

Dangote's forecast, while optimistic, also underscores the challenges facing the Nigerian economy, such as ongoing inflationary pressures and the need for sustained economic reforms. His statement reflects a cautious optimism that, should the government maintain its course on reform and manage import controls effectively, the naira could undergo significant strengthening within the year. The implications of such a shift could be profound, affecting everything from consumer prices to international trade.