Peter Obi vows to keep Tinubu's naira float policy, rejects fuel subsidy return
Peter Obi, former Anambra State governor and the National Democratic Congress presidential candidate for the 2027 general election, told Arise Television on Thursday, September 10, 2026 that he would retain President Bola Tinubu’s naira float policy if elected. He said he would not defend the naira but would instead focus on increasing productivity to make the currency more valuable to Nigerians.
The naira float, introduced by Tinubu’s administration, has drawn mixed reactions: supporters cite restored investor confidence, transparency and an end to costly defence of an unrealistic official rate, while critics point to sharp naira depreciation, soaring inflation and hardship for local businesses. Obi also rejected calls to restore the fuel subsidy, arguing that northern poverty is not worsened by subsidy removal but by other factors, and promised to invest in agriculture, provide agricultural subsidies, return almajiris to education and moderate fuel prices nationwide.
What does this mean for voters? Obi’s stance signals continuity in monetary policy amid a heated debate over fuel subsidies, with opponents like Atiku Abubakar advocating a return. Voters must decide whether a productivity‑driven naira approach or a subsidised fuel model better addresses inflation, cost of living and economic growth.