Speaking to journalists at the State House in Abuja, Rabiu highlighted the positive impact of Tinubu’s initiatives, which he said are laying the groundwork for a more robust economy and a brighter future for Nigerians.

Rabiu noted that prices of essential food items, including flour, pasta, macaroni, and semolina produced by BUA, have dropped considerably compared to the previous year. 

He credited this trend to the president’s decision to grant duty waivers on certain food imports, which has eased costs for manufacturers and consumers alike. 

“We must commend His Excellency for these measures, which have made a tangible difference,” Rabiu stated.

The BUA chairman also praised the strengthening of the naira, with the dollar now trading below N1,500, a marked improvement. 

“I am optimistic that the exchange rate could further improve to N1,300 or N1,400 by year-end,” he added, attributing this to effective monetary policies by the Central Bank of Nigeria (CBN). 

Rabiu highlighted that businesses now face less reliance on the CBN for foreign exchange, with companies able to source funds abroad using ATMs and credit cards—a development he described as a significant step forward.

“These reforms are creating a stable economic environment,” Rabiu emphasized, urging Nigerians to remain patient as the benefits continue to unfold. 

He pointed out that the government’s decisive actions have reduced the cost of commodities across the board, fostering optimism for sustained progress. 

“We owe this to the visionary leadership of President Bola Ahmed Tinubu,” he said, reaffirming BUA’s commitment to supporting the government’s efforts to drive economic growth and improve living standards for all Nigerians.