Naira Could Strengthen to ₦1,300/$ by December – BUA Chairman
By Erewunmi Peace
The Chairman of BUA Group, Abdul Samad Rabiu, has expressed optimism that the Nigerian currency, the naira, could appreciate to around ₦1,300 per dollar by December 2025.
Rabiu made the projection while commending the Central Bank of Nigeria’s ongoing reforms aimed at stabilizing the foreign exchange market. According to him, increased access to foreign exchange, rising reserves, and improved investor confidence could push the naira to a stronger position before the year ends.
“With the current trajectory and improved liquidity in the FX market, we could see the naira appreciate to ₦1,300 or ₦1,400 by December,” he said.
The naira has recently recorded modest gains, supported by reforms and stronger external reserves, which crossed the $41 billion mark earlier this month.
However, financial analysts remain cautious. A member of the CBN’s Monetary Policy Committee (MPC), Prof. Murtala Sagagi, has projected a more conservative outlook, suggesting the naira may settle around ₦1,450 to the dollar by December. Experts also warn that global oil price fluctuations, inflationary pressures, and foreign capital outflows could limit the currency’s appreciation.
Still, business leaders like Rabiu remain confident that the reforms will restore long-term stability to Nigeria’s exchange rate and boost economic activities.
