Chairman of BUA Group, Abdul Samad Rabiu, has expressed optimism that the naira will appreciate to between ₦1,300 and ₦1,400 against the US dollar before the end of 2025.
Rabiu made the projection on Wednesday while speaking to journalists after a meeting with President Bola Tinubu at the Presidential Villa, Abuja.
He hailed Tinubu’s “bold and decisive” economic policies, stressing that the ongoing reforms are already delivering positive results for businesses and the national currency.
“I expect the exchange rate to strengthen further, likely settling around ₦1,300 to ₦1,400 before year-end. This is a development we should all celebrate,” Rabiu said.
According to him, businesses now have easier access to foreign exchange through international banking channels and credit cards, which has significantly reduced reliance on the Central Bank of Nigeria (CBN).
The BUA boss also pointed out that food and commodity prices are beginning to fall compared to last year, urging Nigerians to remain patient as the reforms continue to take shape.
Rabiu further commended the government for introducing a more transparent foreign exchange system, describing it as a departure from past practices that created scarcity and compelled businesses to lobby for dollars.
He maintained that the current reforms are laying the foundation for a stronger economy and a more stable future.