BUA Chairman Predicts Nigerian Naira to Hit ₦1,300 by 2025, Foresees Market Stability and Food Price Reduction

Alhaji Abdul Samad Rabiu, the Chairman of BUA Group, forecasts that the Nigerian Naira will strengthen to ₦1,300-₦1,400 per US dollar by the end of December 2025. Rabiu expressed optimism during a meeting with President Bola Ahmed Tinubu at the Presidential Villa, highlighting confidence in the government's economic reforms.

He commended the efforts to stabilize the foreign exchange market and emphasized the need for greater market stability rather than relying solely on the Central Bank of Nigeria for foreign exchange. Rabiu also projected a reduction in food prices, expecting a significant moderation in 2025 compared to previous years.

Recent data from the National Bureau of Statistics showed a drop in headline food inflation, supporting Rabiu's belief in an appreciating Naira and reduced commodity prices, indicating a positive economic outlook.