Abdul Samad Rabiu predicts naira to strengthen against the dollar before the end of 2025, a forecast that has generated optimism across Nigeria’s economic and business landscape. The BUA Group chairman made this bold prediction after meeting with President Bola Tinubu at the Presidential Villa, Abuja, where he praised the government’s “bold and decisive” reforms.
Rabiu told journalists that the exchange rate could fall to between ₦1,300 and ₦1,400 per dollar by year-end, signaling a recovery from recent economic pressures. According to him, this outcome would be a major victory for both businesses and ordinary Nigerians.
“I expect that the exchange rate is going to strengthen even further. I expect that the rate should come down to maybe ₦1,300, ₦1,400 before the end of the year. And this is something that we should all celebrate,” Rabiu stated.
He explained that Nigeria’s foreign exchange (FX) reforms now allow businesses to access dollars more transparently through credit cards and international banking channels, rather than relying solely on the Central Bank of Nigeria (CBN). This, he argued, is making the system more efficient and fair for all companies.
Rabiu said the reforms have also ended the practice of lobbying for FX, which previously created distortions. “Before now, I used to visit the CBN every two weeks to lobby for FX. That was the only way to survive,” he said. “Now, I don’t need that. The system is transparent, and it works.”
Beyond FX, he pointed out that food and commodity prices are already showing signs of improvement compared to last year. Inflation remains high, but Rabiu believes Nigeria is on a recovery path. “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,” he said.
He urged Nigerians to be patient with Tinubu’s administration, saying reforms take time to yield visible results but the early signs are encouraging.
Shortly after his inauguration in 2023, President Tinubu unified Nigeria’s foreign exchange market by collapsing multiple official rates into a single rate and allowing the naira to float. The reform ended years of inefficiency where the official rate was artificially low compared to the parallel market.
Rabiu described this as a turning point for Nigerian businesses, saying it eliminated artificial scarcity and gave all companies equal access to dollars. He also noted that the transparency has attracted more investor confidence and reduced corruption in the FX system.
“Their bold reforms are laying the foundation for a stronger economy, a more stable currency, and a better future for businesses and Nigerians alike,” he added.
Conclusion: Abdul Samad Rabiu Predicts Naira to Strengthen
The prediction by Abdul Samad Rabiu that the naira will strengthen to ₦1,300/$ by year-end reflects growing optimism in Nigeria’s economy. By praising Tinubu’s FX reforms and pointing to early gains in food prices and currency stability, Rabiu has raised hope that the country may finally be on track toward sustainable growth. While challenges remain, his forecast signals confidence that bold policies can deliver real results for Nigerians.
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