2027: Peter Obi reveals Tinubu policy he will retain
The presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has said he would retain President Bola Tinubu’s floating exchange-rate policy if elected in the 2027 presidential election.
Obi made this known during an interview with Arise TV on Thursday while responding to a question on which policy of the Tinubu administration he would keep if given the opportunity to govern.
The former Anambra State governor identified the floating of the naira as one policy he would retain, but said his administration would focus on increasing production to improve the value of the currency.
He said, “There’s one: the floating of the naira. I’m not going to defend it. But I’m going to put productivity to work to make it more valuable to the people.”
Obi has previously expressed support for allowing the naira to find its market value, although he has criticised the manner in which the policy was implemented.
In a 2025 interview, he said there was nothing inherently wrong with floating or devaluing the currency, but argued that such a policy could worsen economic hardship if not supported by higher domestic production.
He said agriculture, manufacturing and other productive sectors would need to be strengthened to increase Nigeria’s output and improve the country’s export capacity.
The Central Bank of Nigeria introduced major foreign exchange reforms after Tinubu assumed office in 2023, allowing market forces to determine the value of the naira and ending the previous multiple exchange-rate system.
The policy was followed by a sharp fall in the value of the naira and rising costs of goods and services, with critics linking the reforms to the worsening cost-of-living crisis.
Supporters of the foreign exchange reforms, however, have argued that the policy removed distortions in the foreign exchange market and created a more transparent system.
Obi also spoke against the use of ethnicity in determining the outcome of the 2027 presidential election.
He called for Nigerians to reject tribal considerations and focus on issues that affect the country as the political parties prepare for the election.
“Our election should not be driven by tribalism,” he said.
The former governor also listed national unity, security, justice and the rule of law among areas he would prioritise if elected.
He said his administration would also focus on tackling corruption, improving healthcare and education, reducing poverty and strengthening Nigeria’s productive capacity.
Obi contested the 2023 presidential election under the Labour Party but is now the presidential candidate of the NDC ahead of the 2027 election.
