President Bola Tinubu has defended his administration’s economic policies, saying the naira would have become virtually worthless, with Nigerians needing wheelbarrows to move large amounts of money, if his government had failed to intervene.
Tinubu made the statement during a visit to Akwa Ibom State, where he appealed to residents to support his administration and Governor Umo Eno ahead of the 2027 general election.
The President described the forthcoming election as crucial to determining Nigeria’s future, urging eligible voters, particularly young people, to obtain their Permanent Voter Cards.
Speaking on the economy, Tinubu maintained that his administration had prevented the country from sliding into financial collapse.
He recalled that 27 out of the 36 state governors were unable to pay workers’ salaries, pensions and gratuities when he assumed office, but claimed that the situation had improved under his leadership.
He argued that the economic decisions taken by his government had helped prevent further depreciation of the naira, adding that without the interventions, Nigerians would have needed wheelbarrows to carry money to the market to buy basic commodities such as tomatoes.
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Tinubu also stated that the exchange rate of about 1,300 naira to the dollar still gave the local currency some purchasing value.
At a reception held in his honour at Ibom Palm Resort, the President praised Governor Umo Eno for the development of the facility.
He described the resort as a demonstration of purposeful leadership, noting that the 73-acre site, previously affected by gully erosion, had been reclaimed and transformed into a recreational centre.
