Asiwaju Bola Ahmed Tinubu, the All Progressives Congress (APC) presidential candidate, has chastised the Muhammadu Buhari administration for the naira’s depreciation and high exchange rate.
The APC presidential candidate claimed that the Buhari administration failed to manage the economy effectively, causing the country’s currency to depreciate.
According to Tinubu, the naira/dollar exchange rate was around N200 to the dollar when the Buhari administration took over, but it has since depreciated to around N800 to the dollar on the parallel market.
This was stated by the former Governor of Lagos State on Tuesday at the party’s presidential campaign rally in Calabar, Cross River State, South-South Nigeria.
He said:
Today, they moved the exchange rate from N200 to N800. If they had repaired it, if they had arrested this, we won’t be where we are today, we will be greater. They don’t know the way, they don’t know how to think, they don’t know how to do.
WITHIN NIGERIA reports that this development comes just a few days after Tinubu claimed that there is a plot to sabotage the upcoming elections and his victory by exploiting the country’s lingering fuel scarcity and the naira redesign.
However, after the statement sparked opposition reactions, the former Lagos governor denied that the outburst was directed at the president, but rather at some government officials affiliated with the Peoples Democratic Party (PDP).