Nigerian Business Leader Predicts Naira Stabilization by Year-End

Alhaji Abdul Samad Rabiu, Chairman of the BUA Group and prominent Nigerian businessman, has forecasted that the naira will likely stabilize at a range of N1,300 to N1,400 per dollar by the end of December 2025. Rabiu made this statement during a briefing with journalists following a meeting with President Bola Ahmed Tinubu at the presidential villa.

The BUA Group chairman commended the current administration’s reforms, noting that businesses are no longer reliant on the Central Bank of Nigeria for foreign exchange. This development suggests a degree of stability in the foreign exchange market. Rabiu also observed that food and commodity prices have decreased significantly in 2025 compared to the previous year.

According to Rabiu, the expected stabilization of the naira is a welcome development. “I expect that the rate should come down to maybe N1,300 or N1,400 before the end of the year,” he stated. He also highlighted the reduction in food prices, saying, “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 and prices of food items.”

Recent data from the National Bureau of Statistics supports Rabiu’s observation, with headline and food inflation dropping to 21.12 percent and 21.87 percent, respectively, in August 2025. Additionally, the naira showed signs of strengthening on Wednesday, trading at N1,490 per dollar on the black market and N1,488.56 on the official market.

The predicted stabilization of the naira and reduction in food prices could have a positive impact on Nigeria’s economy. As the year progresses, it remains to be seen whether these trends will continue. The government’s reforms and efforts to stabilize the foreign exchange market will be crucial in determining the trajectory of the naira and the overall economy.