Naira would've become worthless, we would be using wheelbarrows to move money – Tinubu

President Bola Ahmed Tinubu has warned that Nigeria's naira could have become virtually worthless, necessitating the use of wheelbarrows to transport money, had his administration not made specific economic choices upon taking office in May 2023. The President emphasized the significance of the upcoming January 16, 2027, presidential election during a rally in Uyo, Akwa Ibom State, with the outcome potentially shaping the future trajectory of Nigeria.

Upon assuming power, Tinubu noted that 27 out of 36 state governors were grappling with paying salaries, pensions, and gratuities. He credited his government's decisions for averting a more severe financial crisis. The President's remarks come as the public remains divided over the effects of his administration's economic reforms, especially the removal of the petrol subsidy and the consolidation of the foreign exchange market.

These policies have led to adjustments in Nigeria's economy, with citizens dealing with rising living costs, exchange rate pressures, and escalating prices for goods and services. Tinubu defended the reforms, contending that they were essential to stabilize public finances and revitalize the Nigerian economy. He is seeking re-election against 17 other candidates in the January 16, 2027, presidential election.