Peter Obi laments ‘Dollarisation’ of Nigerian Economy

By Sodiq Adelakun

The Labour Party’s presidential candidate for the 2023 general elections, Peter Obi expressed his concern over the increasing reliance on the US dollar in Nigeria’s economy.

In a television interview on Monday, Obi emphasized the need for the Naira to be devalued. He lamented the current state of the country and highlighted the importance of addressing economic challenges.

He added that the use of the dollar in the country has led to unproductively.

Obi said: “Dollar has become the underground currency of our economy; it shouldn’t be. We have a currency called the naira.

“All the things people use dollars to do that are not productive should be removed.

“I can assure you that when you remove it, it can strengthen the currency. Today, even when you want to do party primaries, people share dollars. That is not our currency.

“There should be a stiff penalty in dealing with the issue. If people earn dollars legitimately, let them spend it the way they want.

“However, it has now become a means of corruption and criminality in our system.”

Peter Obi further stated that the country should work more on exports to strengthen the currency.