By Promise Dera

Copyright nigerianeye

Alhaji Abdulsamad Rabiu, Chairman of BUA Group, has forecasted a significant appreciation of the naira to ₦1,400 per dollar by the end of 2025, citing ongoing economic reforms under President Bola Tinubu’s administration as a key driver.

The optimistic projection was made during Rabiu’s meeting with President Tinubu at the State House on Wednesday, September 24, 2025.

Speaking to State House correspondents after the closed-door discussions, which primarily focused on strategies to reduce food prices, Rabiu expressed confidence in the currency’s trajectory.

“The naira will strengthen to ₦1,400 by year-end,” Rabiu stated, attributing the expected rally to measures such as the harmonization of foreign exchange rates, duty waivers on essential food imports, and broader fiscal policies aimed at stabilizing the economy.

He commended the administration’s swift actions, noting that these reforms have already begun yielding positive results in curbing inflation and boosting investor confidence.

Rabiu’s prediction comes amid the naira’s recent volatility, with the currency trading around ₦1,600 to the dollar in the parallel market as of September 25, 2025.

His remarks align with a growing chorus of business leaders praising Tinubu’s interventions, including the removal of fuel subsidies and unification of exchange rates, which have paved the way for gradual recovery despite short-term pains.

The BUA boss also urged Nigerians to rally behind the government, emphasizing that sustained support would accelerate the path to economic prosperity.

“These reforms are working; we just need to stay the course,” he added.

This forecast, if realized, could signal a major turnaround for Nigeria’s economy, potentially easing import costs and bolstering consumer spending in the final quarter of the year.

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