Peter Obi Backs Tinubu's Naira Float, Pledges to Keep Policy if Elected

During an Arise Television interview on Thursday, Peter Obi—the National Democratic Congress's 2027 presidential candidate—pledged to sustain President Bola Tinubu's naira float policy in the event of his electoral victory. When discussing which current administration policies merit continuation, Obi singled out the floating exchange rate mechanism.

Obi made clear, however, that maintaining this mechanism would not constitute approval of every implementation detail. His strategy would emphasize expanding Nigeria's productive capacity so the currency strengthens naturally, avoiding artificial defense attempts.

According to the former Anambra State governor, his administration would prioritize economic output and productivity above all else. Since its 2023 rollout by Tinubu's government, the naira float has sparked divergent reactions throughout Nigeria.

Those endorsing it cite restored investor confidence, forex market transparency improvements, and halted public fund hemorrhaging. Those opposing it cite currency depreciation effects on ordinary Nigerians' living costs.

Obi further ruled out any restoration of fuel subsidies—another contentious element within Tinubu's economic agenda. His position suggests the NDC contender plans to emphasize economic stability while proposing altered execution methods.

These remarks emerged amid broader conversation regarding electoral credibility and governance priorities for the upcoming 2027 general election.