The Makinde‑Daura Presidential Campaign Organisation has accused President Bola Tinubu of taking credit for the recent improvement in the naira’s exchange rate, while its own economic policies were responsible for the currency’s sharp decline.
In a statement issued by its Director of Strategic Communications, Richard Nnanna Ihediwa, the campaign said Nigerians were still struggling with the effects of the naira’s fall and the rising cost of living, despite a recent uptick in the exchange rate.
“Mr President, you cannot preside over the destruction of the purchasing power of our national currency and turn around to seek public applause,” Ihediwa said.
The organisation recalled that the official rate was about N461 to the dollar when Tinubu took office on 29 May 2023. It blamed the removal of the petrol subsidy and the unification of foreign‑exchange windows for pushing the naira to almost N2,000 to the dollar. It also criticised Tinubu’s description of an exchange rate of N1,340 to the dollar as “pocketable”, arguing that the figure did not reflect the economic difficulties faced by ordinary Nigerians.
“A stronger naira means little if citizens cannot afford food, medication and other basic needs,” the campaign added, underscoring that the currency’s value alone does not translate into improved living standards for the population.
<small>Source: Daily Post Nigeria — read the original story there.</small>
