Bismarck Rewane Releases Naira Exchange Rate Projection for 2026

• Bismarck Rewane projects the naira will stabilise further in 2026, supported by higher oil earnings, improved FX supply, and policy reforms
• The economist also projected that Nigeria’s GDP is expected to rise to 4.1%, driven by expanding business activity, infrastructure development
• He also shared insight into the Nigerian stock market’s expected performance and projected mega corporate listings, strong corporate earnings

Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

Leading Nigerian economist and CEO of Financial Derivatives Company (FDC), Bismarck Rewane, has projected a stronger and more stable naira in 2026.

According to him, the currency will trade within the N1,450 to N1,500 per US dollar band, and improvement from his 2025 prediction of N1,600 and N1,650.

The economist disclosed this in a presentation at the Parthian Economic Discourse 2025 held in Lagos recently.

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He noted that the expected naira stability will be underpinned by higher oil production and export earnings, improved foreign exchange supply from rising reserves.

Rewane said that Central Bank of Nigeria (CBN) policy reforms to curb arbitrage and speculation, favourable inflation–interest rate differentials, and moderation in import demand will also be a key factor in the naira achieving stability.

The economist noted that sustained exchange-rate stability would be crucial for investor confidence, business planning, and overall macroeconomic predictability.

Rewane other economic projections

Rewane also forecast that Nigeria could enter 2026 on its strongest economic footing in over a decade, supported by easing inflation, rising investments, major corporate listings, and stabilising monetary conditions, BusinessDay reports.

He projected that the GDP growth to reach 4.1%, driven by expanding business activity, infrastructure development, stronger private-sector credit, and higher domestic value addition.

The economist identified six key sectors likely to shape the country’s economic growth: agriculture and agro-processing, real estate and construction, telecommunications, manufacturing, the creative economy, and technology and fintech. Agriculture and agro-processing, in particular, is expected to generate N104.6 trillion in earnings, leading the growth trajectory.

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Rewane also highlighted the potential for significant capital market growth, projecting the Nigerian Exchange’s total market capitalisation could reach N262 trillion in 2026, up from the current N93 trillion.

This growth is expected to be supported by mega corporate listings, including the Dangote Refinery and Nigerian National Petroleum Company (NNPC), alongside robust performance in telecoms, cement, consumer goods, and banking sectors.

Inflation and monetary policy

The economist projected that food and core inflation could fall to around 20% in 2026, citing improvements in domestic refining capacity, stronger manufacturing output, rising productivity, and reforms aimed at reducing logistics and supply-chain costs.

He noted that the CBN may begin cautious interest-rate cuts next year, balancing the need to support investment without reigniting inflation.

While optimistic, Rewane warned that Nigeria’s economic trajectory could be affected by global and domestic risks, including geopolitical tensions, commodity price fluctuations, declining oil prices, election-year spending, and insecurity in food-producing regions.

He concluded that 2026 will be a defining year for Nigeria’s economy, stating that the country is “standing at the threshold of a profound economic reset,” with the potential to accelerate into a new era of stability and growth or falter if reforms stall.

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CBN injects $100 Million

Earlier, Legit.ng reported that the Central Bank of Nigeria (CBN) has confirmed the issuance of final operating licences to 82 Bureaux De Change (BDCs) under its revised regulatory framework, urging Nigerians to transact only with authorised forex dealers.

The approval is based on the 2024 Regulatory and Supervisory Guidelines for BDC Operations.

Onlynly operators listed on its official website are recognised to conduct BDC business in Nigeria.

Source: Legit.ng