Peter Obi backs Tinubu’s naira float policy, vows to retain it if elected

Peter Obi, the presidential candidate of the National Democratic Congress (NDC) for the 2027 general election, has expressed his intention to maintain President Bola Tinubu’s naira float policy if he is elected. This commitment was revealed in an interview with Arise Television on September 10, 2026. The naira float policy, implemented by Tinubu’s administration, has sparked debate among Nigerians.

Supporters argue that it could restore investor confidence, promote transparency, and prevent the ongoing drain of public funds resulting from maintaining an artificial exchange rate. On the other hand, critics warn of the potential for further naira devaluation, increased inflation, and hardship for businesses operating within Nigeria.

Obi emphasized that he would not prioritize defending the naira, instead focusing on boosting productivity to enhance its value for citizens. When questioned about the prospect of reinstating fuel subsidies, a topic Atiku Abubakar had previously mentioned would support his northern voters, Obi firmly rejected the idea. He maintained that the challenges faced by the northern region are not solely attributable to the removal of fuel subsidies, but rather stem from other underlying factors.