Key Points:
- Rabiu sees the naira gain more this year. He sets a band near 1,300 to 1,400.
- He hails FG reforms and CBN FX work. He says those moves now calm the market.
- Firms now seek FX with banks or cards abroad. He adds food prices show early drops across stores.
Billionaire Abdul Samad Rabiu sees a bright path ahead. He predicts fresh gains for the naira this year. The BUA Group boss spoke on reforms and markets. He shared bold views on rates and food prices.
Rabiu set a tight range for year end rates. He said, “the rate will come down soon.” He placed it near 1,300 to 1,400 per dollar. He called the outlook good news we should all celebrate.
Rabiu backs FG reforms, CBN policies calm FX market
He praised reforms from President Bola Ahmed Tinubu’s team. He said those moves build a stronger base for growth. “We must give full credit to His Excellency,” he said. He also praised clear, firm steps on monetary policy today.
Rabiu said firms now get FX without CBN help. He noted banks and cards now meet real needs. He said, “the reliance on CBN has disappeared.” He called that shift proof that markets now heal.
He said firms pay with ATM and credit cards abroad. That path, he added, now takes weight off the CBN. Recent talks on trade costs surface in a Lagos ports growth push. Many hope cheaper goods follow steady FX and fair trade.
Food prices show early drops, he urges calm patience
The industrialist said food costs now move the right way. He sees, “a significant reduction,” across many store lines. He asks homes to stay patient while reforms take root. He wants firms and fans to back the programme.
Rabiu linked a firm naira to clear gains for shops. He said fair FX will cut key import costs soon. He also said farms and mills need safe credit lines. He called for strong rails, roads, and gas to grow.Star relief lifts homes this year, see celebrity aid during recession. He believes steady policy will help that help go further.
He closed with a clear call for support today. He said, “things are getting better,” under this plan. He added, “we must keep faith and back government.” He said the team shows strong will and clear vision
