$1 Will Exchange For Less Than N1,000 Before Year’s End –Otedola

The Nigerian national currency, the Naira will so appreciate in value that $1 dollar will exchange for less than N1, 000 before the end of the year.

This is the submission of Billionaire businessman Femi Otedola .

Otedola took to his X account to make the submission while overviewing the likely impact of the coming on stream of the Dangote Refinery.

Otedola also congratulated the President of Dangote Group, Aliko Dangote, on the refinery’s attainment of its full production capacity of 650,000 barrels per day.

He also praised the refinery’s capacity to supply up to 75 million litres of Premium Motor Spirit (PMS) daily, adding:

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“With domestic refining now firmly underway after decades of reliance on imports, pressure on the foreign exchange market should ease significantly. I am optimistic that the naira will strengthen meaningfully, and trading below ₦1,000/$1 before year-end is increasingly within reach,” Otedola stated.