THE President of BUA Group, Abdul Samad Rabiu, has projected a stronger naira before the close of 2025, predicting that the exchange rate could settle between ₦1,300 and ₦1,400 per US dollar by year-end.
News Point Nigeria reports that Rabiu gave the forecast on Wednesday after a closed-door meeting with President Bola Ahmed Tinubu at the Presidential Villa, Abuja.
He described the administration’s ongoing economic reforms as bold, courageous, and already delivering tangible results, particularly in the foreign exchange market.
“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 stated.
The industrialist, whose conglomerate spans cement, sugar, and real estate, highlighted a major shift in Nigeria’s FX system, noting that businesses now source foreign exchange independently rather than relying solely on the Central Bank of Nigeria (CBN).
According to him, companies can now access dollars via credit cards, international banks, and private markets, a departure from years of dependence on official allocations.
“So really, for all of these, we must give full credit to His Excellency and the government. Their bold reforms and decisive policies are creating the foundation for a stronger economy, a more stable currency, and a better future for businesses and Nigerians alike,” he said.
On the rising cost of living, Rabiu maintained that despite public concerns, commodity prices have reduced compared to last year, stressing that Nigerians should exercise patience as government policies begin to stabilize the economy.
“If you look at the prices of food items last year and what we have today, you’ll see that there is a significant reduction in all the commodities.
“So, I think we just need to be a bit more patient. Clearly, things are getting better, and we must continue to support the government,” he added.
Rabiu’s optimistic outlook comes as the Tinubu administration intensifies efforts to rebuild investor confidence, tackle inflation, and stabilize the naira, which has endured months of volatility.
