Peter Obi says he will retain Tinubu’s naira floating policy if elected in 2027

—Insists on Increasing Domestic Production By Olayinka Ajayi The presidential candidate of the Nigeria Democratic Congress, NDC, Peter Obi, has said he would retain the floating exchange-rate policy introduced by President Bola Tinubu if elected president in 2027, while prioritising increased domestic production to strengthen the naira. Obi stated this during an interview on Arise […] The post 2027: I’ll retain Naira float policy — Obi appeared first on Vanguard News.

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 Tinubu’s Naira floating against US Dollar — Peter Obi

"There’s one: the floating of the naira. I’m not going to defend it. But I’m going to put productivity to work to make it more valuable to the people,” Mr Obi said when asked to identify one policy of the Tinubu administration he would retain The post 2027: Peter Obi names Tinubu’s policy he’ll retain if elected appeared first on Premium Times Nigeria.

Peter Obi, the presidential candidate of the Nigeria Democratic Congress, NDC, has explained why he will retain President Bola Tinubu’s liberalisation of the foreign exchange market if elected President in 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 […] Why I will retain Tinubu’s liberalisation of forex market — Peter Obi

Peter Obi, the National Democratic Congress presidential candidate for the 2027 election, has said he would retain President Bola Tinubu’s naira float policy if elected into office.The former Anambra State governor made the commitment during an interview on Arise TV on Thursday. Asked to name one Tinubu administration policy he would keep, Obi replied: “There’s one the floating of the Naira. I’m not going to defend it. But I’m going to put productivity to make it more valuable to the people.”He stressed that his focus would be on boosting productivity to strengthen the currency rather than reversing the float.Obi also cautioned against ethnic considerations influencing the 2027 polls, stating: “Our election should not be driven by tribalism.”The Tinubu government introduced the naira float in June 2023 as part of wider economic reforms. The policy unified the foreign exchange market by allowing market forces to determine the naira’s value after the Central Bank of Nigeria removed restrictions at the Investors and Exporters window. This ended the previous multiple exchange-rate system.The reform, announced shortly after Tinubu’s inauguration and the suspension of then-CBN Governor Godwin Emefiele, led to a sharp depreciation of the naira from below N500 per dollar to levels above N1,000 and later beyond N1,500 at various points.Supporters of the policy argue it removed distortions, improved transparency, and helped attract investment. Obi’s stance distinguishes between keeping the floating exchange-rate framework and improving the underlying economic conditions through higher domestic production, exports, and investment—an approach he has long advocated as a shift from a consumption-driven economy.Obi, who ran in the 2023 presidential election under the Labour Party, is now contesting on the NDC platform. Economic management, inflation, exchange-rate stability, unemployment, and the cost of living are expected to feature prominently in the 2027 campaigns.

Peter Obi said he would retain Tinubu’s naira float policy with a productivity-first approach to strengthen Nigeria’s economy and warned against tribalism.