BUA Chairman Rabiu Reports Forex Market Improvements
Abdul Samad Rabiu, the Chairman of BUA Group, spoke to State House Correspondents on Friday after visiting President Tinubu at his Ikoyi residence in Lagos. He acknowledged the economic difficulties faced by many Nigerians but highlighted improvements from the business community's perspective, particularly in the foreign exchange market.
Rabiu noted that increased foreign exchange inflows and greater stability in the naira's value were encouraging signs for businesses. He expressed confidence that economic conditions would continue to improve, despite existing challenges.
The naira traded at approximately ₦1,332 to the dollar on Friday, having closed at about ₦1,329.50 on September 30. Rabiu emphasized that the reforms being implemented require time to yield their full impact.
His visit also served to welcome President Tinubu back from a working vacation and to celebrate Nigeria's 66th Independence Anniversary. Additionally, President Tinubu met with Aliko Dangote, President and Chief Executive of Dangote Group, at the same location.
Plus234Feed summary based on reporting from Voice of Nigeria. Read the original report below.
Read full article
Continue on Voice of Nigeria
Get the week in one email
Top stories, NPFL results, the naira, every Friday morning. Free, one email a week.
Related Stories
BUA Group's Abdul Samad Rabiu Advocates Local Manufacturing
BUA Group Urges States to Improve Investment Climate
Tinubu Unveils Economic Reforms at Nigerian Summit
Tinubu's Reforms Attract Foreign Investment Interest
Tinubu's Economic Reforms Boost Business Confidence in Nigeria
UBA's Alawuba Advocates for Economic Gains in Nigeria
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
