ABUJA — The 2027 presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has declared that he will retain President Bola Ahmed Tinubu’s floating exchange-rate framework rather than reversing foreign exchange (FX) market liberalization if elected president.
Speaking on Arise Television on Thursday, September 10, 2026, the former Anambra State governor explained that artificial defense of the naira—as practiced in previous administrations—drained national reserves and created market distortions without boosting economic output.
Obi noted that while he will maintain the unified, market-driven FX policy, his strategy focuses on improving underlying economic fundamentals. Rather than intervening directly to defend the currency, his administration would aim to strengthen the naira by boosting domestic production, driving export capacity, and shifting Nigeria from a consumption-oriented economy to a productive manufacturing and agricultural hub.
