Nigerian Naira to Hit N1,000/$ in Weeks: Tinubu Forecasts Major Recovery

President Bola Ahmed Tinubu has sent a shockwave of optimism through the Nigerian financial markets by predicting that the Nigerian Naira will appreciate to N1,000 per dollar in the coming weeks. Speaking at the Renewed Hope Ambassadors summit at the Presidential Villa in Abuja on Tuesday, February 24, 2026, the President highlighted that the steady recovery of the local currency is a direct result of "honesty and discipline" in his administration’s economic reforms.

​The Bold Prediction: Why N1,000 is the Target

​For many Nigerians, the exchange rate has been a primary barometer for economic health. President Tinubu's assertion that the N1,000 mark is within reach represents a significant milestone in the journey toward monetary stability.

​"In fact, if not for the interventions by the Central Bank of Nigeria (CBN) yesterday, the N1,000 to a dollar—we are going to attain it in weeks, not in months," the President stated. He explained that while the currency has the momentum to hit that target immediately, the CBN intervened strategically to ensure market stability and prevent artificial volatility that could harm businesses.

​A Warning to Currency Hoarders

​In a direct address to those speculating against the Naira, the President issued a stern wake-up call. He noted that individuals, including some political leaders who "take delight in stockpiling dollars," should reconsider their positions. As the Naira strengthens, those holding foreign currency in hopes of a further crash will likely face significant losses.

​The Pillars of the Naira’s Appreciation

​The forecasted recovery to N1,000/$ is not happening in a vacuum. Several key factors are driving this renewed strength in the Nigerian Foreign Exchange Market (NFEM):

1. ​Moderating Inflation: The President noted that inflationary pressures are finally beginning to ease across the country.
2. ​Stable Oil Prices: Improved oil production and favorable global prices have boosted Nigeria's foreign reserves.
3. ​Fiscal Discipline: By confronting "deep-seated structural distortions," the administration has restored fiscal credibility, making the Naira a more attractive asset for investors.
4. ​Strategic CBN Interventions: Unlike the chaotic fluctuations of previous years, the CBN’s current intervention strategy is focused on "calibrated auctions" and maintaining liquidity without depleting reserves unnecessarily.

​Investment Confidence: Nigeria as a Global Destination

​One of the most compelling arguments for the Naira’s strength is the surge in foreign direct investment (FDI). President Tinubu revealed that of the seven major investment decisions made across Africa last year, five were made in Nigeria.

​"That goes to show the strength and viability and the promise of the Nigerian economy," he said. As the focus shifts from stabilization to acceleration in 2026, the administration is betting on this influx of capital to provide the necessary backing for a permanently stronger Naira.

​The Road Ahead: From Stabilization to Acceleration

​As we move further into 2026, the Nigerian government is positioning the country as a "compelling destination where value is being discovered." The recent milestone of the Nigerian Exchange crossing the N100 trillion market capitalization mark is a testament to this growing confidence.

​However, the President emphasized that for these reforms to reach their full potential, public participation is essential. "No reform can succeed without public understanding and participation," he noted, urging Nigerians to keep faith with the current economic trajectory.

​What This Means for You

• ​Lower Import Costs: A stronger Naira means the cost of importing essential goods, including raw materials and electronics, will decrease.
• ​Reduced Inflation: As the exchange rate stabilizes near N1,000/$, the cost of living—particularly for food and fuel—is expected to drop.
• ​Business Planning: Entrepreneurs can now plan with more certainty, knowing that the wild swings in the FX market are being actively managed by the apex bank.

​Conclusion

​The President’s forecast of N1,000 per dollar marks a definitive moment for the Nigerian economy in 2026. While challenges remain, the combination of aggressive fiscal reforms, strategic CBN interventions, and massive foreign investment suggests that the Naira is finally finding its footing. For currency speculators, the message is clear: the era of betting against the Naira may be coming to an end.