Peter Obi Supports Tinubu's Forex Market Liberalisation
Peter Obi, the presidential candidate of the Nigeria Democratic Congress (NDC), announced in an interview with Arise TV on Thursday that he would maintain President Bola Tinubu's liberalisation of the foreign exchange market if elected President in 2027. Obi defended the floating of the naira implemented by Tinubu's administration in 2023, stating, “It’s floated in naira.
I’m not going to defend it, but I’m going to put productivity to make it more valuable to the people.” He also expressed support for Tinubu's removal of the fuel subsidy, which resulted in a significant price increase of fuel from around N238 per litre in May 2023 to between N1,310 and N1,350 per litre. The liberalisation of the foreign exchange market led to the naira depreciating to N1,329.21 per dollar from approximately N470.
Plus234Feed summary based on reporting from Daily Post. Read the original report below.
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