Chairman of BUA Group and billionaire businessman, Alhaji Abdul Samad Rabiu, has projected that the naira will appreciate to between N1,300 and N1,400 per dollar by December 2025.

Rabiu made the remark on Wednesday during a briefing with journalists after his meeting with President Bola Ahmed Tinubu at the Presidential Villa.

He commended the ongoing economic reforms, noting that businesses are no longer dependent on the Central Bank of Nigeria for foreign exchange, a shift he said points to greater FX stability.

Speaking on commodity trends, Rabiu highlighted that food and other essential prices have dropped significantly in 2025 compared to the previous year.

“I expect the rate to come down to maybe N1,300 or N1,400 before the end of the year. And this is something we should all celebrate,” he said.

“If you compare food prices from last year to what we have now, there has been a noticeable reduction across commodities,” he added.

According to the National Bureau of Statistics (NBS), headline inflation eased to 21.12 per cent in August 2025, while food inflation dropped to 21.87 per cent.

As of Wednesday, the naira traded at N1,490 per dollar on the parallel market, with the official rate closing at N1,488.56.