President Bola Ahmed Tinubu has stated that the naira has strengthened against the dollar under his watch, moving from N1,900/$ when he assumed office to N1,450/$ at present.
Speaking on Tuesday while receiving members of The Buhari Organisation (TBO), a political group of leaders from the defunct Congress for Progressive Change (CPC), at the Presidential Villa in Abuja, Tinubu said the development reflected a stabilised economy, with the government meeting its 2024 revenue target ahead of schedule without resorting to borrowing.
“The economy has stabilised, nobody is trading a piece of paper for an exchange rate anymore,” Tinubu claimed.
“When I took over, it was N1,900 to a dollar. It’s N1,450 now. It’s been stabilising there. You don’t have to know Cardoso before you get your foreign exchange.”
The president said his administration remained committed to fixing the economy, creating jobs, and ensuring food sovereignty through modernised agriculture.
He also announced a massive mechanisation programme that will establish agricultural centres, provide training schemes, and create employment opportunities nationwide.
The President dismissed concerns about the impact of United States President Donald Trump’s trade tariffs on Nigeria, insisting his government was building a stronger, diversified economy.
“If non-oil revenue is going where it is going, then have no fear of whatever Trump is doing on the other side,” he told his guests.
The delegation, led by former Nasarawa State Governor Tanko Al-Makura and House of Representatives Speaker Abbas Tajudeen, pledged the “unconditional support” of CPC members for Tinubu’s administration and his 2027 re-election bid.
Tinubu expressed gratitude for their loyalty, recalling his political partnership with the late former President Muhammadu Buhari, whom he promised to immortalise by building a “Buhari House.”
POINT OF CORRECTION, MR PRESIDENT. The Naira is still over N1,500 to a Dollar as at today 4/9/2025.
And what was the price of a litre of fuel when you came, too?