Stabilisation Of Naira Big Plus For Tinubu’s Administration – Iyabo Obasanjo

Professor Iyabo Obasanjo, the daughter of the former President Olusegun Obasanjo, has said that the prevailing stabilization of the Naira against the dollar is a plus for President Bola Ahmed Tinubu’s administration and something commendable.

Obasanjo, who described the phenomenon of “stabilisation of the Naira is a big one,” noted that the predictability in the exchange rate is crucial for business growth and economic prosperity.

The former Senator for Ogun Central who recently declared her ambition to contest the 2027 governorship seat of the state, made this known on Saturday while speaking with journalists at Olusegun Obasanjo Presidential Library (OOPL), Abeokuta, the state capital.

She lauded the Lagos-Calabar Coastal Road project of President Bola Tinubu for its potential to decongest the Ogun State corridor of the Lagos-Ibadan Expressway, ease transportation to the Eastern states, links Calabar and Lagos ports together and boost business along the corridor.

“I think there is a lot going on positively. One is the stabilisation of the Naira. “What that does is that people can predict how much money they will spend on imports and how much income they will get. So stabilisation of the Naira is a big one.

“Although there was a lot of negativity around the road to Calabar, that will generate income in terms of ports. They will connect the two ports now to the other one. It will also ease transportation to the East in ways that we can’t even start to reckon with.

” So, I think that the economic stability cannot be underestimated because when people can predict income and exports, they do it, things get better because then you are not buying something at one price because of the dollar instability, and having to sell, buying it at a higher price, and then it changes everything.

“There are also some improvements in security, mainly because now we have a lot of collaboration going on. The international collaboration, the President’s visit to different countries for trade and economic development, is rising. And that is the key to everything we do. I think that does.”