President Bola Ahmed Tinubu has said the naira will appreciate to N1000 per dollar in the coming weeks.
The president revealed this in his remarks at the Renewed Hope Ambassadors Summit in Abuja on Tuesday.
He confirmed that the Central Bank of Nigeria had to intervene on Monday by mopping up excess dollars to stabilize the Naira.
According to him, monetary policy measures by his administration are yielding 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.”
The naira depreciated to 1,355.3745 and N1370 per dollar on Tuesday across the official and black markets.
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, on Tuesday, during a briefing after its 304th Monetary Policy Committee, said the country’s gross external reserves increased to a 13-year high of $50.45 billion on February 16, 2026.
