Makinde campaign says Tinubu cannot claim credit for naira recovery

The presidential campaign of Oyo State governor Seyi Makinde has criticised President Bola Tinubu's claims about the naira.
What the campaign said
In a statement reported on Monday, 9 November 2026, Richard Nnanna Ihediwa, director of strategic communications for the Makinde–Daura campaign, accused the President of trying to take credit for the naira's recent stability after policies that first caused a drastic fall in its value. He said the President could not preside over the destruction of the currency's purchasing power and then ask for applause. The campaign pointed out that the official exchange rate was about ₦461 to the dollar when Tinubu took office in May 2023, before the removal of the fuel subsidy and the unification of the exchange rate, and said marginal improvements offer little relief to people facing high inflation.
Background
The statement responds to Tinubu's remarks in Uyo last week, where he said the naira would have become worthless without his reforms and put the current rate at about ₦1,300 to the dollar. Makinde is the candidate of the Allied Peoples Movement (APM), with former DSS chief Lawal Musa Daura as his running mate, and recently launched his 'Reset Agenda' manifesto. The government has said the old official rate understated the true value of the dollar and that unification was needed.
What happens next
The presidential election is scheduled for 16 January 2027.
- The campaign says the naira was ₦461/$ in May 2023.
- It says small gains do not help struggling Nigerians.
- Tinubu said the naira would have been worthless without reforms.

