By Seun Ibiyemi
President Bola Tinubu on Tuesday expressed optimism that the Naira would soon appreciate to N1,000 against the United States dollar, declaring that the target could be achieved “in a matter of weeks.”
The President made the assertion while addressing participants at the Renewed Hope Ambassadors Summit held at the Presidential Villa, Abuja.Naira posts gain against dollar as FX market shows relative stability
He said the current economic trajectory reflects the impact of reforms initiated by his administration to restore fiscal credibility and stabilise the economy.
“From the start, our administration chose the path of honesty and discipline. We confronted deep-seated structural distortions. In so doing, we have restored fiscal credibility, stabilised the economy, and set the foundation for long-term economic growth,” Tinubu said.
According to him, inflationary pressures are easing, oil prices remain favourable, and the Naira is regaining strength and stability.
He noted that but for recent interventions by the Central Bank of Nigeria (CBN), the exchange rate would have already closed in on the N1,000/$ mark.
“In fact, if not for the interventions by the Central Bank of Nigeria yesterday, the N1,000 to a dollar, we are going to attain it in weeks, not in months. But for the purpose of market stability, the CBN generously intervened yesterday,” he stated, adding that the development should serve as a wake-up call to currency speculators.CBN mops up $190m to slow naira rally
Tinubu further maintained that Nigeria is witnessing renewed investor confidence, revealing that of the seven major investment decisions made in Africa last year, five were in Nigeria.
“That goes to show the strength, viability and promise of the Nigerian economy. As we advance into 2026, our focus shifts from stabilisation to acceleration,” he said.
The President disclosed that the proposed N58.18 trillion budget would anchor the next phase of economic growth, with record capital expenditure, the largest allocation to national security in the country’s history, and prudent revenue projections aimed at strengthening economic resilience.
On tax reforms, Tinubu said the measures were designed to protect vulnerable citizens, encourage enterprise and entrench transparency in public finance.
He added that a recent executive order on remittances to the federation account would safeguard revenues, eliminate duplication and curb waste.
Represented at the event by Vice President Kashim Shettima, the President stressed that no reform can succeed without public understanding and participation.
He tasked members of the Renewed Hope Ambassadors to take the message of economic reforms to communities nationwide and counter misinformation with facts.
He also commended Hope Uzodimma, Director-General of the Renewed Hope Ambassadors, for providing leadership and coordination for the initiative.
Speaking on the forthcoming elections, Tinubu remarked that electoral outcomes are determined by Nigerians at the grassroots and not on social media platforms.
In a direct appeal to the Secretary to the Government of the Federation, George Akume, the President urged efforts toward restoring peace and development in Benue State.
“Nigeria is greater than all of us,” Tinubu said, emphasising unity and collective responsibility in driving national progress.
