Naira will appreciate to N1300 per dollar, price of food will reduce – BUA Chairman, Samad Rabiu
BUA Group Chairman, Alhaji Abdul Samad Rabiu, says the naira could stabilize between ₦1,300 and ₦1,400 per dollar by December 2025.
Speaking with journalists after a meeting with President Bola Tinubu at the Presidential Villa, Rabiu credited ongoing reforms for easing pressure on the foreign exchange market, noting that businesses no longer depend on the Central Bank for FX access.
He also highlighted a slowdown in inflation, pointing out that food and commodity prices have moderated this year compared to 2024. Data from the National Bureau of Statistics showed headline inflation at 21.12% and food inflation at 21.87% in August 2025.
As of Wednesday, the naira traded at ₦1,490/$ on the parallel market and ₦1,488.56/$ officially.
“I expect that the rate should come down to maybe N1,300 or N1,400 before the end of the year. And this is something that we should all celebrate,” he said.
“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 said.
