On September 24, 2025, Abdul Samad Rabiu, chairman of BUA Group, predicted the naira would strengthen to between N1,300 and N1,400 per dollar by January 2026.
Speaking after meeting President Bola Tinubu in Abuja, he expressed optimism about Nigeria’s economic trajectory.
Reform Benefits
Rabiu lauded Tinubu’s bold economic policies, noting their positive impact on businesses and currency stability.
“These reforms are laying a strong foundation for a better economy and a stable naira,” he said, highlighting their role in fostering growth.
Forex Access
He pointed out that businesses now source foreign exchange independently, relying less on the Central Bank of Nigeria.
“Companies can access forex through international banking and credit cards, a big shift,” Rabiu noted, crediting government policies.
Falling Prices
Rabiu observed a decline in commodity prices compared to last year. “Food and goods are cheaper now. With patience, we’ll see more progress,” he urged, encouraging support for ongoing reforms.
Recent Trends
The naira recently appreciated to N1,497.46 per dollar on September 15, 2025, in the official market, showing steady gains.
The Central Bank’s efforts to improve forex access, as noted by Governor Olayemi Cardoso, further support this trend.
Call for Patience
Rabiu emphasized the need for patience as reforms take root. “Things are improving. Let’s back the government to build a brighter future for Nigeria,” he said, reinforcing his confidence in the nation’s economic path.
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