Why I will retain Tinubu’s Naira floating against US Dollar — Peter Obi
Peter Obi, the presidential candidate of the Nigeria Democratic Congress, has explained why he will retain President Bola Ahmed Tinubu’s liberalisation of the foreign exchange market if elected president on January 16, 2027. Obi made this disclosure in an interview with Arise TV on Thursday. Peter Obi defended the floating of the naira by President Tinubu’s administration […] Why I will retain…
Peter Obi, the presidential candidate of the Nigeria Democratic Congress, clarified his stance on retaining President Bola Ahmed Tinubu's decision to allow the floating of the naira against the US dollar. This stance was shared in an interview with Arise TV on Thursday. Obi defended the floating of the naira, a move initiated by Tinubu's administration in 2023, contrasting it with the approach taken by late President Muhammadu Buhari.
He expressed his intention to focus on enhancing productivity to make the naira more valuable for the people, rather than defending its value. Earlier, Obi had also supported Tinubu's removal of the fuel subsidy, a move that led to a significant increase in fuel prices, which ranged from N1,310 to N1,350 per litre, up from around N238 per litre in May 2023.
Tinubu's liberalisation of the foreign exchange market resulted in the naira depreciating to N1,329.21 per dollar from around N470.
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- 2027: Peter Obi names Tinubu’s policy he’ll retain if elected premiumtimesng.com
