President Bola Tinubu said Nigeria’s currency could have become virtually worthless, forcing people to move naira notes in wheelbarrows, had his administration not acted after he assumed office in 2023.
Speaking in Uyo, the capital of Akwa Ibom State, during a presidential campaign rally, Tinubu argued that the measures introduced at the start of his term prevented a far deeper erosion of the naira’s value. He also described the presidential vote scheduled for January 16, 2027, as a pivotal contest that would shape Nigeria’s future direction.
“The election coming up on January 16, 2027, is a very important one that will set the course for our country,” Tinubu said.
He said that when he entered office, 27 of Nigeria’s 36 state governors were unable to meet salary payments, while pension and gratuity obligations were even further out of reach.
“By now, if we didn’t make a decision the day I took over, we would have had to use a wheelbarrow to carry our naira because it would have been worth nothing,” the president said.
