Chairman of BUA Group, Alhaji Abdul Samad Rabiu, has expressed confidence that the naira will stabilize between ₦1,300 and ₦1,400 to the U.S. dollar by December 2025.
Rabiu made the projection on Wednesday while speaking with journalists after a meeting with President Bola Ahmed Tinubu at the Presidential Villa in Abuja.
He commended the administration’s economic reforms, noting that businesses no longer depend solely on the Central Bank of Nigeria (CBN) for foreign exchange access. According to him, this has fostered greater stability in the FX market.
“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,” he said.
Rabiu also noted that food and commodity prices have eased in 2025 compared to last year. “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.
According to the National Bureau of Statistics (NBS), headline inflation dropped to 21.12 percent in August 2025, while food inflation stood at 21.87 percent.
As of Wednesday, the naira traded at ₦1,490 per dollar at the parallel market and ₦1,488.56 at the official market.