Presidential candidate of the Nigeria Democratic Congress, Peter Obi, says he will retain President Bola Ahmed Tinubu’s liberalisation of the foreign exchange market if elected president in 2027.
Obi made this known during an interview on Arise Television on Thursday, where he defended the decision to float the naira under the Tinubu administration in 2023.
The former Anambra State governor said he would not return to the policy of defending the naira through government intervention, as was done under the administration of former President Muhammadu Buhari.
Obi explained that rather than artificially supporting the currency, his administration would focus on increasing productivity and strengthening the economy to improve the value of the naira.
He said the priority should be to make the currency more valuable to Nigerians through increased production and economic growth.
Obi had earlier expressed support for the removal of fuel subsidy by the Tinubu administration, despite the resulting increase in petrol prices.
The former governor’s position comes amid continued debate over the impact of the government’s economic reforms and the future direction of Nigeria’s foreign exchange market ahead of the 2027 general elections.
