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 in 2023.

He explained that he is not going to defend the naira as was done under late former President Muhammadu Buhari.

“It’s floated in naira. I’m not going to defend it, but I’m going to put productivity to make it more valuable to the people,” he said.

Earlier, the former governor of Anambra State had also backed Tinubu’s removal of the fuel subsidy, which saw the price of fuel increase to between N1,310 and N1,350 per litre from around N238 per litre in May 2023.

Recall that Tinubu had liberalised the country’s foreign exchange market, which saw the naira depreciate to N1,329.21 per dollar from around N470.