President Tinubu Predicts Naira to Hit N1,000 per Dollar
By 𝔸bdulrazak Tomiwa
President Bola Ahmed Tinubu has expressed confidence that the Nigerian Naira will appreciate to N1,000 per dollar within the coming weeks. He made this disclosure on Tuesday during the Renewed Hope Ambassadors Summit held in Abuja.
The President stated that the ongoing monetary policy measures implemented by his administration are yielding positive results.
He emphasized that the goal of N1,000 to a dollar is now a matter of weeks away rather than months.
Tinubu confirmed that the Central Bank of Nigeria (CBN) intervened on Monday by mopping up excess dollars to stabilize the currency. He noted that without such tactical interventions, the target rate would be reached even sooner.
On the same day, CBN Governor Olayemi Cardoso reported that Nigeria’s gross external reserves reached a 13-year high. As of February 16, 2026, the reserves stood at $50.45 billion, providing a stronger buffer for the local currency.
Despite these optimistic projections, the Naira traded at approximately N1,355 at the official window and N1,370 in the black market on Tuesday. This highlights a current gap between the President’s target and the market reality.
The administration remains committed to stabilizing the economy through these aggressive financial strategies. Officials believe that the combination of high reserves and CBN interventions will successfully drive the Naira’s value upward shortly.
