Nigeria’s billionaire businessman and Chairman of BUA Group, Abdul Samad Rabiu, has expressed optimism that the Naira will recover strongly against the Dollar before the end of 2025 – www.naijnaira.com reports.
Speaking to journalists after meeting President Bola Ahmed Tinubu at the Presidential Villa in Abuja, Rabiu said the exchange rate could fall to as low as N1,300 or N1,400 to the Dollar this year.
“This is something we should all celebrate,” Rabiu told reporters, explaining that the country’s fiscal changes were already showing visible results.
According to Premium Times, Rabiu noted that companies no longer depend on the Central Bank of Nigeria for foreign exchange as they now source funds through international ATMs and credit cards.
He applauded the Central Bank for reforms that eased pressure on businesses and restored confidence in the financial system.
“The reliance on the CBN has virtually disappeared, and these are all positives,” the BUA chairman stated.
Rabiu credited President Tinubu’s administration for bold economic decisions that, in his words, “are creating the foundation for a stronger economy, a more stable currency, and a better future.”
On food prices, he admitted challenges remain, but stressed that the market has improved compared to last year.
“If you look at the prices of food items last year and what we have today, you’ll see a significant reduction across commodities,” he said, urging Nigerians to be patient and continue supporting government efforts.
Article updated 10 hours ago. Content is written and modified by multiple authors.
