Peter Obi Says He Would Keep Naira Float Policy If Elected
Tunde Bakare
Peter Obi says he would retain Nigeria’s floating exchange-rate policy if elected president, but would try to support the naira by raising domestic production.
Obi, the presidential candidate of the Nigeria Democratic Congress, made the comment in an Arise TV interview on Thursday, according to Daily Post and Premium Times.
Daily Post reported that Obi defended the 2023 liberalisation of the foreign exchange market under President Bola Tinubu. He said he would not defend the naira in the old way, but would focus on productivity to make it more valuable to Nigerians.
The position places Obi in support of one of Tinubu’s major economic policies, even as he has continued to criticise the government’s management of the economy.
Daily Post also linked the position to Obi’s earlier support for removing the fuel subsidy. The exchange-rate change in 2023 led to a steep fall in the naira, with the report citing movement from about N470 to N1,329.21 to the dollar.
Sources: Premium Times and Daily Post
Written by
Tunde Bakare
Political journalist covering Nigerian politics, the National Assembly, and electoral developments. Political Editor at NaijaTrend.
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