President Bola Ahmed Tinubu has expressed optimism that the Nigerian naira will appreciate to N1,000 per dollar in the coming weeks.
The President made the projection while speaking at the Renewed Hope Ambassadors Summit in Abuja on Tuesday.
According to him, recent monetary policy measures by his administration are beginning to yield positive results.
“In fact, if not for the interventions by the Central Bank of Nigeria yesterday (Monday), the N1,000 to a dollar, we are going to attain it in weeks, not in months,” Tinubu said.
He disclosed that the apex bank intervened by mopping up excess dollars from the market in a bid to stabilize the local currency.
Meanwhile, the Governor of the Central Bank of Nigeria, Olayemi Cardoso, revealed during a press briefing after the bank’s 304th Monetary Policy Committee meeting that Nigeria’s gross external reserves rose to a 13-year high of $50.45 billion as of February 16, 2026.
Despite the optimism, the naira depreciated to 1,355.3745 at the official market and around N1,370 per dollar at the parallel market on Tuesday.
