President Bola Tinubu has defended his administration’s economic policies, claiming that Nigeria’s currency could have become practically worthless without the reforms introduced by his government.
Tinubu made the remarks during a visit to Akwa Ibom State, where he urged voters to support his administration and Governor Umo Eno ahead of the January 16, 2027 election.
Describing the forthcoming poll as consequential, the President argued that his government had moved Nigeria away from the threat of financial collapse.
He said 27 of the country’s 36 state governors were unable to meet salary obligations, including pensions and gratuities, when he assumed office.
“Today, I can say that we are out of that tunnel,” Tinubu said, maintaining that the country had moved beyond what he described as a period of economic uncertainty.
He argued that without the measures taken by his administration, the naira would have lost so much value that Nigerians might have needed wheelbarrows to transport the currency when shopping.
“By now if we didn’t take over, if we didn’t do what we did, we will be using the wheelbarrows to move our naira about because it will have become valueless,” he said.
The President added that the exchange rate of about N1,300 to the dollar still gave the naira some practical value, compared with what he suggested would have happened without the reforms.
His comments come amid continuing public debate over the effects of the administration’s economic policies, particularly on the cost of living and the purchasing power of Nigerians.
Tinubu also urged eligible voters, especially young people, to obtain their Permanent Voter Cards, describing the document as their strongest instrument for influencing the country’s political future.
At a reception held in his honour at Ibom Palm Resort, the President praised Governor Eno for the development of the facility.
He described the resort as an example of how degraded land could be reclaimed and converted into productive infrastructure through purposeful leadership.
Tinubu said the 73-acre property, previously affected by gully erosion, had been transformed into a resort surrounded by an artificial lake.
He described the project as evidence that development initiatives could be achieved when leaders demonstrated commitment to their communities.
The President’s visit formed part of his political engagement in Akwa Ibom, where he called for support for his administration and the state governor ahead of the 2027 general election.
