The Chairman of BUA Group, Abdul Samad Rabiu, has expressed optimism about the Nigerian currency, predicting that the naira will soon appreciate to around ₦1,300 per dollar. He made this remark while addressing concerns about the economic challenges facing the country, adding that efforts by the government and private sector are gradually stabilizing the economy.

Rabiu explained that with the right fiscal policies, improved local production, and reduced dependence on imports, the naira’s value will strengthen against the U.S. dollar. He highlighted ongoing reforms by the Central Bank of Nigeria and investments in key industries, stressing that Nigeria’s economy has the potential to recover faster than expected if these efforts are sustained.

His comments have sparked discussions across the business community, with many welcoming his confidence as a sign of hope. For everyday Nigerians, a stronger naira would help reduce the cost of living, cut down on inflation, and ease the pressure on imported goods and services.