Chairman of the BUA Group and Nigerian billionaire businessman, Alhaji Abdul Samad Rabiu, has said the naira is expected to settle at between N1,300 and N1,400 per dollar by the end of December 2025.

He disclosed this in a briefing with journalists after meeting with President Bola Ahmed Tinubu at the presidential villa on Wednesday.

He commended the reforms under the president, stressing that businesses no longer rely on the Central Bank of Nigeria for foreign exchange, suggesting FX stability.

On the aspect of food and commodity prices, he stated that prices have significantly moderated in 2025 compared to last year.

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

“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,” he said.

The National Bureau of Statistics inflation data for August 2025 showed that headline and food inflation dropped to 21.12 per cent and 21.87 per cent, respectively.

On Wednesday, the Naira strengthened to N1,490 per dollar at the black market, while the official market stood at N1,488.56.