The Digest:
Nigerian industrialist Abdul Samad Rabiu has projected that the naira could appreciate to between N1,300 and N1,400 against the US dollar by the end of 2025. The BUA Group chairman expressed optimism after meeting with President Bola Tinubu, crediting the administration’s economic reforms for improved forex liquidity and declining food prices.
- Rabiu made the forecast during a press briefing at the State House on Wednesday.
- He praised the CBN for reducing businesses’ dependence on official forex sources.
- The naira recently appreciated to N1,497.46 at the official market.
- Rabiu noted significant drops in food prices compared to 2024.
- He urged patience and continued support for government policies.
- CBN Governor Olayemi Cardoso recently pledged easier forex access.
- Rabiu attributed progress to Tinubu’s “bold reforms and decisive policies.”
- The industrialist called for the celebration of the currency’s recovery.
Sources: The Cable Nigeria
