The sleeping giant of African industry has fully awakened. Femi Otedola, one of Nigeria's most astute billionaire investors, has issued a bold projection: the Naira is set for a significant rebound. His confidence stems from a singular, game-changing event—the Dangote Petroleum Refinery officially hitting its full operational capacity of 650,000 barrels per day.

This milestone is not just an industrial triumph; it is a macroeconomic reset button for Africa's largest economy. For decades, Nigeria has suffered the paradox of being an oil-rich nation that imports all its refined fuel, bleeding billions of dollars in foreign exchange annually. With the refinery now firing on all cylinders, that haemorrhage stops today.

The End of Import Dependence

Otedola's optimism is grounded in cold, hard numbers.

• Forex Savings: By producing gasoline, diesel, and jet fuel locally, Nigeria saves the massive forex previously spent on imports.
• Currency Stabilization: Reduced demand for the dollar will naturally strengthen the Naira, taming the inflation that has battered households.
• Expansion Mode: The Dangote Group has already embarked on a further $12 billion expansion, signalling long-term confidence in the sector.

This is the moment we have been waiting for, Otedola stated. The refinery is not just a factory; it is the engine that will drive the Naira back to its rightful value.

The ripple effects will be felt across the continent. A stronger Naira means a more stable West African region. As the refinery's products begin to flow into neighboring markets, Nigeria is poised to transition from a net importer to a dominant regional exporter of energy. The days of fuel scarcity and currency volatility may finally be numbered.