Professor Okey Ikechukwu, a Strategic Management and Human Capital Development expert at Development Specs Academy, has said the depreciation of the naira strengthens, rather than weakens, Peter Obi’s criticism of President Bola Tinubu’s administration.
Speaking on Arise News, Ikechukwu said Obi’s recent call for Tinubu to resign should be viewed as an assessment of the government’s performance rather than merely a political demand. He argued that the administration’s record on the economy and security provides grounds for public criticism.
According to Ikechukwu, one of the Tinubu administration’s first major policy decisions—the removal of the fuel subsidy—had significant consequences for the cost of living. He also noted that the naira, which traded at about ₦197–₦200 to the U.S. dollar when former President Muhammadu Buhari assumed office in 2015, has depreciated to between approximately ₦1,300 and ₦1,500 under the current administration.
“If you look at the value of the naira, use it to tell Obi he’s talking nonsense, it won’t work,” he said.
Ikechukwu added that the weaker naira has reduced purchasing power, fueled inflation, and increased living costs. He also expressed concern over persistent insecurity, including kidnapping, banditry, insurgency, attacks on communities, and assaults on military formations, urging the government to take stronger measures to restore public confidence.
