Chairman of the BUA Group of Companies, Rabiu Abdulsamad, has expressed confidence that prices in Nigeria will soon start to come down under the administration’s economic policies.

Abdulsamad, who was meeting with President Bola Tinubu to congratulate him on the successful completion of Ramadan in Lagos highlighted the significant progress that has been made in addressing the country’s longstanding foreign exchange challenges.

“At a time, the exchange rate was almost N1900/$, but today, the rate is coming down to almost N1,200/$,” Abdulsamad noted.

“We knew then that the high rate was due to many factors, including speculation and manipulation, and a lot of people were actually commercializing their dollar,” he added.

The BUA Group chairman praised the Tinubu administration and the Central Bank of Nigeria (CBN) for their efforts in stabilizing the exchange rate, stating that “this is the first time in over 30 years that I have seen one exchange rate in Nigeria, so it’s really commendable.”

Abdulsamad went on to predict that prices will start to fall in the coming months as a result of the improved forex situation. “So I expect that in a month or two, prices will definitely come down,” he said.

“For example, the price of diesel. The price a few days’ back was N1700/Litre, but today, it’s about N1,200/L.”

He revealed that his company had recently purchased diesel from Dangote Refinery at a rate below N1,200 per liter, suggesting a broader trend of falling prices in the market.

Abdulsamad attributed this positive development to the government’s reform efforts and the collaboration between the public and private sectors.

He noted that a committee has been established to facilitate this partnership, which he believes is crucial for the country’s economic recovery.

“We all need to come together and support the government, her policies. The government means well and they are trying to support Nigeria, but we need to be patient. These reforms will take time, it is not easy and it is not something that can be done in one day, so we are working together,” Abdulsamad said.

https://leadership.ng/nigeria-heading-for-price-crash-says-bua-chairman/#google_vignette

Nlfpmod

Yeepsy

I pray so

I fear o because the last time he said price would crash was the first time the cement price jumped to all time high of 15k per bag.

Next time, don't say it, just so it.




Tinubu, a bad man with good intentions.

Was he not the one who said his cement would be sold for N3500?
After he said that, Dangote cement became more expensive.
Anytime this guy talks expect the opposite

Holly Gram


EBIN PAWA ooo !!!


LITE UP my WEED in peace


WTF MAN!

God Abeg help Tinubu
If u Dey swear or wish am bad mak Peter Obi fit be president Na we the citizen u Dey wish bad
Tinubu don already made

Naira exchanging at over #1000 is what some Nigerians are celebrating. Foodstuffs beyond the reach of common man too Pity!
How can we explain this jubilation to family men earning below 100k per month?
Let everything be brought back to where it was. That is where the battle should begin.

helinues:
Yeepsy

This morning again? So today will be a wasted day too? Oh not again. Get something doing man.

Boogyman557:
Holly Gram


EBIN PAWA ooo !!!


LITE UP my WEED in peace


WTF MAN!

Why do you always like to be incoherent on threads with all this jargons weed BLA BLA

Huh?

Everybody knows price will soon start falling soon.

This same man who told Nigerians cement will sell for less than 3k long before the useless naira floatation policy crashed the naira

Nigerians and recycled news are 5&6 on NL

Lance008:
God Abeg help Tinubu
If u Dey swear or wish am bad mak Peter Obi fit be president Na we the citizen u Dey wish bad
Tinubu don already made

. Forget it

Obi can never rule Nigeria..


Detribalised soludo or umahi are well suited

DenreleDave:

. Forget it

Obi can never rule Nigeria..


Detribalised soludo or umahi are well suited

Beans muncher always talking nonsense.

Every business man must talk to favour the government

Imagine

The high politics you guys are playing with Nigerians, is only God that will judge you people

This man should just shut up

If you want improvement and good for Nigeria, joy will fellow you, but if you don't want good and improvement in Nigeria, calamities and tribulations will be your portion

When you read comments from Gbola Tilumbu's miscreants, you will realize how stupid and senseless they are.

Ok oo

Show working

No be to dey do cho cho cho

Show working

Until then

Chai..

Juliusganduje:
This morning again? So today will be a wasted day too? Oh not again. Get something doing man.

Do you think that wasted pig, has a life purpose.😆.

A grown man, heading to 40's later on he would come on line to complain how nigerian women are materialistic.

While his mates were hustling, just look at how he wastes his life.

bhh

The only time there will be price crash in Nigeria is when petrol is sold below N200, Diesel below N500 and dollar Below N300.

These are the 3 major things that controls prices of goods and services in Nigeria, anything outside these 3 is just propaganda and TALKS.