Obi Reveals Tinubu Policy He Would Keep in 2027

Peter Obi, the presidential candidate of the National Democratic Congress (NDC) in the 2027 election, has said he would retain the floating exchange-rate policy introduced under President Bola Tinubu if elected.

Obi, however, said his administration would focus on boosting productivity and strengthening the economy rather than merely defending the naira’s value through interventions.

The former Anambra State governor made the disclosure during an interview on Arise TV on Thursday.

Asked to identify one policy of the Tinubu administration he would retain if elected president, Obi pointed to the floating of the naira.

“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 said.

The naira has operated under a market-determined exchange-rate framework since June 2023, when the Central Bank of Nigeria unified the foreign exchange market and discontinued the previous multiple-exchange-rate regime.

The policy was introduced as part of the Federal Government’s broader efforts to reform the foreign exchange market, attract investment and improve transparency in currency trading.

However, the naira experienced significant depreciation following the reforms, leading to increased concerns over inflation, import costs and the purchasing power of Nigerians.

Obi said his approach would be to increase domestic production and economic output, arguing that a more productive economy would help strengthen the currency and improve living conditions.

The 2027 presidential election is expected to feature several major political contenders as parties and candidates begin positioning themselves ahead of the poll.

Obi, who contested the 2023 presidential election under the Labour Party, is seeking the presidency again on the platform of the NDC.

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