Ahead of the 2027 general elections, Labour Party standard-bearer Peter Obi has made a striking policy declaration, stating that he would retain President Bola Tinubu’s floating exchange rate policy if elected into office.
Speaking during a recent economic policy briefing, the former Anambra State governor addressed the ongoing national discourse surrounding the administration’s aggressive macroeconomic reforms. While acknowledging the severe short-term inflation and high living costs currently squeezing Nigerian households, Obi argued that scrapping structural market corrections midway would cause deeper instability for the nation’s financial system.
“The policy framework itself is not entirely the problem; it is the management, the lack of complementary production, and the absence of safety nets for the vulnerable. If we come in, we will not reverse the float—we will stabilize the fundamentals that make it work for production rather than consumption,” Obi explained.
The endorsement of a core Tinubu administration economic reform by a leading opposition figure has generated intense debate among financial analysts and political strategists. Critics within opposition camps questioned the ideological alignment, while market watchers praised the pragmatic stance, viewing it as a reassuring signal of policy continuity for foreign investors and international multilateral institutions.
