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Tinubu says naira will appreciate to ₦1,000 per dollar in coming weeks.
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CBN interventions to stabilise naira already showing results, President says.
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Nigeria’s external reserves rise to $50.45bn, highest in 13 years.
President Bola Ahmed Tinubu has expressed confidence that the Nigerian naira will appreciate to about ₦1,000 per dollar in the coming weeks.
Tinubu made the statement on Tuesday during his remarks at the Renewed Hope Ambassadors Summit in Abuja.
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The President said recent monetary policy measures and interventions by the Central Bank of Nigeria (CBN) are beginning to stabilise the local currency.
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According to him, the CBN recently intervened by mopping up excess dollars in the market, a move aimed at strengthening the naira.
He stated that the target exchange rate of ₦1,000 per dollar could be achieved within weeks rather than months if current economic policies continue to yield results.
Despite the optimism, the naira traded around ₦1,355 at the official market and about ₦1,370 at the parallel market on Tuesday.
CBN Governor Olayemi Cardoso also disclosed that Nigeria’s gross external reserves rose to $50.45 billion as of February 16, 2026, representing the highest level in about 13 years.