Naira strengthens against the dollar as business leaders predict further gains

The Nigerian naira has been gaining value against the US dollar, reaching a two-year high of 1,347 naira to the dollar. Daily exchange rate reports show a trend of appreciation throughout February 2026.

Business leaders Aliko Dangote and Femi Otedola have predicted the naira could strengthen further, potentially trading below 1,000 naira to the dollar before the end of the year. Meanwhile, the state oil company NNPC and the regulator NUPRC have expressed concerns about a financial squeeze following an order from President Tinubu.