Peter Obi has said he would retain the naira floating exchange-rate policy introduced by President Bola Tinubu if elected president in the 2027 general election.
The National Democratic Congress presidential candidate made this known during an interview on Arise TV on Thursday, while explaining the economic policy of the Tinubu administration he would keep.
Obi said his administration would not reverse the floating of the naira but would focus on increasing productivity to strengthen the currency and improve its value to Nigerians.
“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 said.
The former Anambra State governor also warned Nigerians against allowing tribal considerations to influence their choice of candidate in the 2027 election.
“Our election should not be driven by tribalism,” he said.
Tinubu’s administration introduced the naira float in June 2023 as part of its foreign exchange reforms, with the policy allowing market forces to play a greater role in determining the value of the currency.
The reform led to a significant depreciation of the naira, although the policy has remained a major part of the Federal Government’s economic reforms.
Obi said his approach would be to improve domestic productivity, production, exports and investment rather than reverse the floating exchange-rate system.
He is seeking to become president in 2027 on the platform of the NDC after previously contesting the 2023 presidential election under the Labour Party.
