Showunmi Challenges Utomi's Naira Strengthening Claim

Segun Showunmi, a member of the All Progressives Congress (APC) Presidential Campaign Council, responded to Pat Utomi's assertion that Peter Obi, the presidential candidate of the Nigeria Democratic Congress (NDC), could strengthen the naira to ₦500 per dollar if elected. Utomi claimed that this would help curb inflation, reduce poverty, and improve purchasing power.

However, Showunmi described Utomi's agenda as misleading and unrealistic, emphasizing that the economy's complexities involve multiple factors such as production, export, and foreign reserves. He stated that the idea of achieving a naira value of ₦500 to a dollar through presidential action alone is fundamentally flawed.

Showunmi criticized politicians for making unrealistic promises to gain votes, arguing that such claims erode public trust in political figures. He highlighted that a politically declared appreciation of the naira would not automatically lead to a significant reduction in essential commodity prices.