The Makinde-Daura Presidential Campaign Organisation has criticized President Bola Tinubu, accusing his administration of trying to take credit for the naira’s recent stabilization after initial economic policies caused a severe devaluation of the currency.
In a statement issued by its Director of Strategic Communications, Richard Nnanna Ihediwa, the campaign argued that minor gains in the exchange rate provide no real relief to citizens facing high inflation and rising living costs.
The organization highlighted that the exchange rate stood at approximately ₦461 to the dollar when President Tinubu assumed office in May 2023. Following key policy moves, including the removal of the petrol subsidy and the merger of foreign exchange windows, the currency dropped significantly toward ₦2,000 per dollar.
The campaign also faulted the administration for describing an exchange rate near ₦1,340 to the dollar as a positive outcome, stating that such assertions ignore the financial struggles of ordinary Nigerians who continue to face high costs for food and essential medicines.
