I’ll retain Tinubu’s Naira float policy, but focus on productivity — Peter Obi

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

Obi made the disclosure during an interview with Arise TV on Thursday, while outlining the economic policies he would retain or change if elected.

Asked to name one policy of the Tinubu administration he would keep, the former Anambra State governor said: “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.”

Obi explained that rather than reversing the naira float, his administration would focus on increasing productivity, boosting domestic production and strengthening the country’s economic output.

He also warned Nigerians against allowing tribal sentiments to determine their choices in the 2027 presidential election.

“Our election should not be driven by tribalism,” Obi said.

The naira float was introduced in 2023 as part of the Tinubu administration’s broader foreign exchange reforms, with the policy allowing market forces to play a greater role in determining the value of the currency.

The policy has remained one of the most debated aspects of the administration’s economic reforms, particularly following the significant depreciation of the naira and its impact on the cost of living.

Obi’s position suggests that his proposed approach would be to retain the floating exchange-rate framework while tackling the underlying economic challenges through increased production, investment and exports.

With the 2027 election approaching, economic management, the value of the naira, inflation and the rising cost of living are expected to remain major issues in the presidential campaign.

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