Naira can appreciate below ₦1,200/$ with CBN right policies – Rewane - Newstrends
Connect with us

Business

Naira can appreciate below ₦1,200/$ with CBN right policies – Rewane

Published

on

Bismarck Rewane

Naira can appreciate below ₦1,200/$ with CBN right policies – Rewane

During the week, the naira went on a stellar run, gaining over ₦500 on the dollar. This development marked a significant leap for the nation’s currency, which went on a spiral downfall following reforms by the Central Bank of Nigeria (CBN).

While various factors have been attributed to the positive run, many citizens remain unconvinced about sustainability and have expressed their worries accordingly.

But Rewane has looked on the bright side and identified measures to help the naira gain more strength.

Speaking on Channels Television‘s Politics Today programme during the week, the foremost economist said with the right policies and implementation by the CBN, the naira will continue to grow in leaps and bounds.

READ ALSO:

He said, “The truth is that it’s sustainable as long as you do a number of things and I was going to go come to that. The first is that interest rates have been increased therefore the propensity to save has increased and the propensity to consume has actually reduced. People are consuming less and actually saving more if they are saving.

“The government itself is consuming less and actually saving. You heard that there’s a ban on travel. For the optics of it, at the same time there’s a lot of waste in government, there’s a lot of leakages in government, there’s a lot of mismanagement of things but these are early days.”

Rewane said even though projections have shown that the naira could get to ₦1,200, his company’s analysis showed that it could even do better.

“The fact that you have moved from N1,915 to ₦1,475 and Goldman Sachs’ Standard Chart is saying that it will get to ₦1,200. Our own analysis shows that it could even do better as long as you do those things: one, you refinance your existing debt, you take care of the ways and means and you do not need these kinds of distractions like what’s happening in Delta State; those kind of conflicts and misunderstandings and insurgency which will disrupt the oil pipelines and reduce our oil cash flow is what we don’t need at all,” the renowned economist said.

Naira can appreciate below ₦1,200/$ with CBN right policies – Rewane

Loading

Auto

Jetour Takes Award-Winning Dashing, Other SUVs to Abuja

Published

on

Jetour Takes Award-Winning Dashing, Other SUVs to Abuja

 

Motorists in Abuja are set for a close encounter with Jetour’s award-winning Dashing and other models as Jetour Nigeria moves to deepen its foothold in the nation’s capital with the Jetour Experience Abuja, beginning September 22.

The three-day motoring event, which runs until September 24, is expected to draw prospective buyers and automobile enthusiasts to a hands-on experience featuring test drives, product demonstrations and direct engagement with Jetour’s seven authorised dealers and product specialists.

The participating dealer network comprises Elizade Nigeria Limited, Kojo Motors, Mandilas Autos, Germaine Auto Centre, R.T. Briscoe, Tab Autos and New Era Auto Vehicle Services Limited.

The Abuja Experience follows the success of the Lagos edition, which attracted thousands of visitors for test drives and direct engagement with product specialists. According to the organisers, strong demand and inquiries from motorists in Abuja and neighbouring states prompted the expansion of the event to the Federal Capital Territory.

The Dashing has gained attention in Nigeria’s competitive compact SUV segment for its combination of modern styling, technology, performance and competitive pricing.

The SUV is available with 1.5-litre and 1.6-litre turbocharged engines, producing up to 145kW of power and 290Nm of torque, paired with six- or seven-speed dual-clutch transmissions.

Its features include a 15.6-inch central touchscreen infotainment system, panoramic sunroof, wireless charging and smartphone integration.

For safety, the vehicle comes with a 360-degree surround-view camera, automatic emergency braking, lane departure warning, blind-spot detection and multiple airbags.

Beyond vehicle sales, the authorised dealers provide warranty, genuine spare parts and after-sales support to Jetour customers across their respective locations.

The Abuja Experience is expected to strengthen customer engagement and give motorists in the FCT a closer look at Jetour’s growing range of vehicles, while further expanding the brand’s footprint in the northern market.

Loading

Continue Reading

Business

Dangote: ₦525 Refinery Shares Could Rise to ₦10,000

Published

on

Dangote: ₦525 Refinery Shares Could Rise to ₦10,000
Africa’s richest man and President of the Dangote Group, Alhaji Aliko Dangote

Dangote: ₦525 Refinery Shares Could Rise to ₦10,000

Investors who buy into the Dangote Petroleum Refinery may see the value of their holdings multiply significantly in the years ahead, according to Aliko Dangote.

The businessman said the refinery’s shares, which will be offered at ₦525 each, could eventually climb as high as ₦10,000.

The projection comes ahead of the company’s much-anticipated initial public offering, which is scheduled to open on September 14 and close on October 13.

Dangote used a hypothetical ₦5m investment to illustrate his expectation, saying such an investment could be worth more than ₦50m if the share price eventually reaches his projected target.

The IPO will put 4.1 billion ordinary shares on offer, with investors able to apply for as few as 10 shares, equivalent to ₦5,250.

A major feature of the offer, according to Dangote, is that smaller investors will be given preference when shares are allocated.

He said people investing modest amounts such as ₦50,000 or ₦100,000 would be prioritised ahead of institutional investors seeking much larger allocations.

READ ALSO:

He also highlighted dividends as another potential attraction, saying shareholders may have the option of receiving their returns in either naira or US dollars.

Dangote argued that receiving dividends in dollars could be particularly useful for Nigerians who have expenses outside the country.

He cited parents with children studying in the United Kingdom as an example, noting that currency fluctuations can significantly increase the cost of foreign expenses.

The Dangote Group president recalled the naira’s steep decline against the dollar, saying the exchange rate had moved from around ₦400 to about ₦1,800 to a dollar, creating difficulties for families and businesses with foreign obligations.

Beyond the potential returns for shareholders, the IPO is expected to help finance the refinery’s expansion plans. The company wants to raise its capacity from roughly 650,000–700,000 barrels per day to 1.4 million barrels per day.

However, the ₦10,000 figure should not be interpreted as a guaranteed future share price. Once the company is listed on the Nigerian Exchange, its market value will be influenced by demand and supply, business performance, investor confidence, refining margins and wider economic conditions.

The company expects the proceeds from the share sale to support its expansion and other corporate needs, while investors will only know the exact number of shares allotted to them after the offer closes and applications are processed.

Dangote’s comments therefore offer an optimistic outlook for prospective shareholders, but the eventual performance of the investment will depend on how the refinery and the wider market perform after listing.

 

Dangote: ₦525 Refinery Shares Could Rise to ₦10,000

Loading

Continue Reading

Auto

Jetour T2 PHEV Storms Abuja as Jetour Steps Up Nigeria Expansion

Published

on

Jetour T2 PHEV Storms Abuja as Jetour Steps Up Nigeria Expansion

Abuja is set for a major dose of electrified motoring as Jetour Nigeria takes its technologically advanced T2 Plug-in Hybrid Electric Vehicle (PHEV) to the nation’s capital for an experiential showcase aimed at deepening the brand’s growing footprint in Nigeria.

The Jetour T2 PHEV will headline the Jetour Experience Abuja, scheduled for September 22 to 24, 2026, following the strong reception recorded at the brand’s Lagos edition earlier this year, where customer participation, test drives and sales enquiries reportedly surged.

The move to Abuja, according to Jetour Nigeria, was largely driven by growing demand from motorists in the Federal Capital Territory who have been seeking an opportunity to experience the brand’s latest vehicles, particularly the T2 PHEV.

The Abuja activation will feature test drives, product demonstrations and interactions with Jetour’s technical and sales teams, giving prospective buyers first-hand access to the SUV and its plug-in hybrid technology.

Jetour Nigeria, the sole authorised distributor of the brand in the country, is also leveraging an expanding nationwide dealer network comprising Elizade Nigeria Limited, New Era AutoVehicle Services Limited, Kojo Motors, Germaine Auto Centre, TAB Autos Limited, R.T. Briscoe Motors and Mandilas Autos to strengthen sales and after-sales support across key markets.

READ ALSO:

The company said the decision to stage the Abuja experience was also driven by requests from patrons and prospective customers in the capital who want an opportunity to experience Jetour’s latest products, including the technologically advanced T2 PHEV.

The Jetour T2 PHEV combines rugged SUV capability with hybrid efficiency, advanced technology and comprehensive safety features, positioning it as an attractive option for Nigerian motorists seeking performance, comfort and improved fuel economy.

Since its entry into the Nigerian market, Jetour has recorded growing acceptance, with its SUV range gaining popularity among families, professionals and adventure enthusiasts.

The brand’s expanding customer base has been supported by competitive pricing, after-sales service and vehicles engineered to cope with diverse road and driving conditions across Nigeria.

Jetour’s growing reputation has also been reinforced by a number of local and international recognitions spanning product quality, design, innovation and customer satisfaction.

Its vehicles have also earned strong global safety ratings, with the T2 achieving a 5-Star NCAP safety rating, placing it among vehicles meeting high benchmarks for occupant safety.

The Abuja event is expected to feature test drives, product demonstrations and direct interactions with Jetour’s technical and sales teams, giving visitors an opportunity to experience the brand’s products and understand the technology behind the T2 PHEV.

Beyond showcasing its expanding SUV lineup, Jetour said the Abuja activation reflects its commitment to bringing the brand’s ownership and customer experience closer to motorists across Nigeria.

With the Federal Capital Territory as its next destination, Jetour is looking to build on the momentum generated in Lagos while deepening its footprint in one of Nigeria’s most important automotive markets.

 

Jetour T2 PHEV Storms Abuja as Jetour Steps Up Nigeria Expansion

Loading

Continue Reading

Trending