Omokri: Naira Set to Rise as Dangote Refinery to Flood Market with Fuel

Omokri said the naira will rise once Nigeria stops importing fuel, as Dangote Refinery will flood the market with affordable petroleum products.

He warned those hoarding dollars to convert to naira now or lose money when Dangote Refinery starts selling fuel in 2024.

The naira recently appreciated in the parallel market, trading at N1,280 per dollar on March 29, 2024.

Omokri said those betting the naira would fall to N2,000 per dollar have already lost money.

Legit.ng reported the naira was selling at N1,260-N1,280 per dollar on March 29, 2024, after appreciating 5.19% from the previous week.