Abdul Samad Rabiu Hails Tinubu’s Reforms, Predicts Naira to Strengthen to ₦1,300–₦1,400 by December

Abdul Samad Rabiu, Chairman of BUA Group, has projected that the naira could appreciate to between ₦1,300 and ₦1,400 per dollar before the close of the year.

Rabiu made this forecast while speaking with journalists after meeting President Bola Tinubu at the Presidential Villa in Abuja on Wednesday. Commending the President’s “bold and decisive” economic policies, he noted that the reforms are already producing positive outcomes for businesses and the currency.

“I expect the exchange rate to strengthen further, likely settling around ₦1,300 to ₦1,400 before year-end. This is a development we should all celebrate,” Rabiu said. He added that businesses now have easier access to foreign exchange through international banking channels and credit cards, reducing dependence on the Central Bank of Nigeria.

Highlighting falling food and commodity prices compared to last year, the BUA boss urged Nigerians to remain patient as the reforms continue to take hold. He praised the government for creating a more transparent foreign-exchange system, describing it as a break from past practices that fostered scarcity and forced companies to lobby for dollars. Rabiu stressed that the ongoing changes lay the foundation for a stronger economy and a more stable future.