Chairman of BUA Group, Alhaji Abdul Samad Rabiu, has predicted that the naira will strengthen to between ₦1,300 and ₦1,400 per dollar by the end of 2025, crediting recent government reforms for stabilizing the economy.
Rabiu spoke to journalists on Wednesday after a meeting with President Bola Tinubu at the Presidential Villa, Abuja. He praised the administration’s “bold and decisive” policies, noting that businesses are increasingly able to source foreign exchange independently rather than depending solely on the Central Bank of Nigeria (CBN).
“I expect that the exchange rate is going to strengthen even further. I expect that the rate should come down to maybe ₦1,300, ₦1,400 before the end of the year. And this is something that we should all celebrate,” Rabiu said.
The billionaire industrialist also pointed out that commodity prices have eased compared to last year, urging Nigerians to remain patient as reforms take deeper effect.
On September 15, the naira appreciated to ₦1,497.46/$ at the official FX market, continuing a steady upward trend. Days later, CBN Governor Olayemi Cardoso announced measures to further improve Nigerians’ access to foreign exchange.
Rabiu stressed that the reforms are laying the foundation for a stronger economy, a stable currency, and a better environment for businesses and citizens alike.
