Tinubu Defends Naira Policy, Says ₦1,300-to-Dollar Rate Still Has Value

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President Bola Tinubu defended his exchange-rate policy at an APC rally in Akwa Ibom. He said the naira, at about ₦1,300 to the dollar, still had value and could have become worthless without the policy. He used a wheelbarrow analogy to describe how much cash Nigerians might otherwise need to carry to buy tomatoes. Tinubu unified Nigeria’s exchange rates in 2023. The naira fell from about ₦750 to the dollar to around ₦1,900 before recovering to approximately ₦1,300, according to the report.

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