Alhaji Abdul Samad Rabiu, Chairman of BUA Group and Nigerian billionaire industrialist has projected that the naira will stabilize between ₦1,300 and ₦1,400 per dollar by December 2025, citing ongoing economic reforms and improved foreign exchange dynamics.
Speaking to journalists after a meeting with President Bola Ahmed Tinubu at the presidential villa on Wednesday, Rabiu praised the administration’s policy direction, noting that businesses are no longer dependent on the Central Bank of Nigeria for foreign exchange—a sign of growing FX market stability.
“I expect that the rate should come down to maybe ₦1,300 or ₦1,400 before the end of the year. And this is something that we should all celebrate,” Rabiu stated.
He also highlighted a notable drop in food and commodity prices compared to 2024, attributing the moderation to improved macroeconomic conditions.
“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 commodities and prices of food items,” he added.
Supporting his claims, the National Bureau of Statistics reported that headline inflation fell to 21.12% in August 2025, while food inflation eased to 21.87%.
As of Wednesday, the naira traded at ₦1,490 per dollar on the black market and ₦1,488.56 officially, showing signs of gradual strengthening.
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