Peter Obi, the former governor of Anambra State and presidential candidate of the National Democratic Congress (NDC) in the 2027 general election, has indicated that the naira float introduced under President Bola Tinubu would remain in place if he wins the presidency.
Speaking during an exclusive interview aired on Arise Television on Thursday, September 10, 2026, Obi said the currency policy is one of the current administration’s measures he would preserve. Asked to name a Tinubu administration policy he would retain, he stated: "Yes, there is one, it’s floating the naira. I’m not going to defend it, but I’m going to put productivity to make it more valuable to the people."
The floating exchange rate regime has divided opinion among Nigerians. Supporters argue that it has restored investor confidence, improved transparency and ended the heavy drain on public funds linked to defending an unrealistic official rate. Critics, however, point to steep naira depreciation, elevated inflation and growing pressure on local businesses.
Obi’s position on the currency also carries implications for his broader economic platform. He said he would not spend public resources defending the naira and would instead focus on raising productivity so that the currency becomes more valuable to citizens.
On fuel subsidy, Obi distanced himself from proposals to restore the regime, including remarks attributed to Atiku Abubakar in northern engagements. He argued that poverty in the north was not worsened by the removal of fuel subsidy but by other factors. "The poverty in the North was not worsened because of the removal of subsidy, there are other things," he said.
Obi added that the north holds an advantage in agriculture and that his administration would invest in the sector, provide subsidies for it and direct support toward education for almajiri children. "The north has an asset that no other area can say they have, and that asset is agriculture. We will invest in it, we will give subsidy in it, we will ensure that we take all those poor people, almajiris back to education, support them in different areas."
He also said his government would moderate fuel prices across Nigeria. "And this fuel you are talking about, we will moderate the price all over Nigeria, it’s not only affecting them."
