2027: Peter Obi will strengthen naira to ₦500 per dollar if elected — Pat Utomi

Political economist Pat Utomi has said Nigeria Democratic Congress (NDC) presidential candidate Peter Obi will strengthen the naira to ₦500 per dollar if elected president in 2027.

According to TheCable, Utomi disclosed the proposal on X, describing currency appreciation as central to Obi’s economic agenda. TheCable

“We are convinced that targeting a strategic appreciation of the exchange rate by reasonably strengthening it from ₦1,350/$ to ₦500/$ as part of our manifesto is a winning strategy,” he said.

“It offers a direct, multi-faceted approach to curbing inflation, reducing poverty, and lowering the cost of living.”

Utomi projected that bread prices could fall from ₦1,750 to ₦800, while a 50kg bag of imported rice could decline from ₦55,000 to ₦27,500.

He also predicted reductions in petrol, cement and other commodities.

However, Utomi did not provide a timeline or detailed monetary measures for achieving the proposed exchange rate.

The projections remain campaign proposals rather than guaranteed economic outcomes.