2027: Peter Obi Names Tinubu Policy He Would Retain

Peter Obi has said he would retain President Bola Tinubu’s floating naira policy if elected president in 2027, signalling that he would not seek to reverse one of the administration’s most significant economic reforms.

Obi, presidential candidate of the National Democratic Congress, made the disclosure during an interview on Arise TV while responding to a question about which policy of the Tinubu administration he would preserve if given the opportunity to govern Nigeria.

The former Anambra State governor said his approach would be to strengthen the wider economy and improve the conditions supporting the currency.

Nigeria’s foreign exchange market underwent a major policy shift in June 2023 when the Central Bank of Nigeria removed restrictions around the Investors and Exporters window. The reform gave market forces a greater role in determining the value of the naira against foreign currencies.

The measure became one of the central pillars of Tinubu’s economic reform agenda after he assumed office.

The naira subsequently experienced significant depreciation against the dollar, making exchange-rate management one of the most contentious issues surrounding the administration’s economic policies.

Obi’s position suggests that a government under his leadership would maintain the floating exchange-rate framework rather than return to the previous foreign exchange regime.

Instead, he has argued for policies that would expand economic output, strengthen domestic production and reduce Nigeria’s dependence on imports.

The former governor has repeatedly advocated greater investment in sectors capable of generating jobs, exports and foreign exchange. His broader economic argument is that a stronger productive base would help ease pressure on the currency.

The exchange rate is expected to be a major issue in the 2027 presidential election, with candidates likely to face questions about how they intend to address inflation, currency pressures, unemployment and the rising cost of living.

Obi also spoke against allowing ethnic considerations to determine voting decisions in 2027. He argued that Nigerians should approach the election from the standpoint of national interest rather than tribal identity.

His comments offer an early indication of how he could approach the Tinubu administration’s economic reforms if elected, combining continuity on the naira float with a different emphasis on how the wider economy should be managed.