* Peter Obi says he will end country’s multiple exchange regime
* Promises to ensure the independence of the central bank

By Anthony Osae-Brown

A candidate who’s the top choice to become the next president of Africa’s most populous country, according to three different opinion polls, including one by Bloomberg, has pledged to end the country’s multiple exchange rate regimes if elected.

Peter Obi, a businessman and former governor of Anambra State in Southeast Nigeria is one of the 18 candidates bidding to replace President Muhammadu Buhari, whose two-term tenure ends in May next year. His candidacy has strong support from Nigeria’s largely youthful population and the middle class especially in the southern part of the country.

The independence of the Central Bank of Nigeria will be re-established while a credible and transparent plan to normalize the exchange rate and bring inflation to single digits will be pursued, Obi said in a series of Twitter posts late Thursday.

Africa’s largest economy operates multiple exchange rates dominated by a tightly controlled official rate and a parallel market, where the naira is freely traded. Many people use the unauthorized market where the naira is almost 70% weaker against the dollar.

The depreciation in the local unit has fanned annual inflation that’s at a 17-year high of 20.5%.

The government has resisted calls by the World Bank and the International Monetary Fund to merge the rates by allowing a more flexible foreign-exchange regime.

“This multiple exchange rate regime encourages capital flight and deters investment, which has further worsened Nigeria’s forex situation,” Obi said.

Obi has an uphill battle to win the presidency against more established candidates including Bola Tinubu of the ruling party and Atiku Abubakar of the main opposition Peoples Democratic Party. Both parties have dominated the Nigerian political scene since 1999 when the country returned to democracy after decades of military rule.

The current foreign exchange policies penalize exporters as it forces them to sell their dollars at rates they are unable to get when they need the greenback from the central bank, Obi said. “We will remove import and forex restrictions and insist on a single forex market.”

https://www.bloomberg.com/news/articles/2022-10-07/poll-leader-in-nigerian-presidential-race-pledges-forex-reforms

Once again, Bloomberg refers to Peter as the leading presidential candidate. Peter Obi has become APC and PDP nightmare.

Needed to restore our financial fortunes

A

It just takes will power and the determination to step on toes to reset Nigeria. And without these, we will be on a merry go round

Peter Obi is favorite to become president next year

Waiting for thieving parties to copy it, rephrase and paste.

Vote Obi-Datti 2023.

ShowYourCertificate:
https://www.bloomberg.com/news/articles/2022-10-07/poll-leader-in-nigerian-presidential-race-pledges-forex-reforms

Once again, Bloomberg refers to Peter as the leading presidential candidate. Peter Obi has become APC and PDP nightmare.

Then let Bloomberg come over to Nigeria and vote for him

No body with knowledge of developmental economics would fault Peter obi on this absolutely no one

Firstly protectionist economic policies has never worked for anyone in history from Japan to China to Russia to Vietnam to North Korea

Identify your area with highest comparative advantage ... support local industries in that industries to become multinational companies

That's how you grow an economy ...not wanting to produce everything even when it's obvious you don't have comparative advantage

Develop your comparative advantage then go for it

Obi kills it here, once obi is declared winner dollar will crash to naira by 200%

Tingotoe:
Then let Bloomberg come over to Nigeria and vote for him

Obi shall win 2023 Nigerian presidential election,no body will stop him.

Why are we even having multiple forex rate? Float the damn forex and let have a level playing Field for all.

Abdu81:



Obi shall win 2023 Nigerian presidential election,no body will stop him.

We shall see

Written by " Anthony Osae-Brown", a paid Obidient writer.

Abdu81:
Obi kills it here, once obi is declared winner dollar will crash to naira by 200%

Everyone who has horded dollar will begin to sell and the thing will crash.

PO is just what this country needs at the moment.

The positive vibes POs victory will bring to Nigeria would be like that of 1999.

I'm almost certain that PO will even be able to negotiate a debt relief, or at least a suspension of debt servicing for a couple of years to enable the country stabilize.

We just plead that God will touch the hearts of all these evil youths who want to ensure a plague like tinubu and a fraud like Atiku takes power.

Pakute:
Written by " Anthony Osae-. Brown", a money- for-hire Obidient writer.

I know the feeling. It hurts real bad right?

By Anthony Osae-Brown
A candidate who’s the top choice to become the next president of Africa’s most populous country, according to three different opinion polls, including one by Bloomberg, has pledged to end the country’s multiple exchange rate regimes if elected.

Nigeria is not an urbanised country like USA, UK, Russia, Italy, Sweden, etc, where poll numbers are near 100% accurate. The bulk of voters in Nigeria don't even know if there's any such thing called opinion polling, so you people should stop deceiving Obi and let him begin a serious campaign.

Messiah is here!

Pakute:
Written by " Anthony Osae-Brown", a paid Obidient writer.

A good write up.
Probably paid in millions.
You a paid to write on nairaland for #30k.

Leading Nigeria Presidential candidate. Mr. Peter Obi. Thi.efnubu urchins will cry blood today.

Peter Obi personality will draw the attention of International community in the forthcoming election.

INEC must be put under pressure to ensure free and fair election, anything shut of that, will be too bad for the country.

Vote for Peter Obi
Vote for LabourParty

This kind of news is not good for Tinubu's mental health. I pray he doesn't read the newspapers otherwise his health situation might relapse.

I will vote for Peter Obi

ShowYourCertificate:
https://www.bloomberg.com/news/articles/2022-10-07/poll-leader-in-nigerian-presidential-race-pledges-forex-reforms

Once again, Bloomberg refers to Peter as the leading presidential candidate. Peter Obi has become APC and PDP nightmare.

bloomberg doesn't know NIgeria more than you, and you shouldn't use bloomberg to validate your own knowing. Stop feeling inferior all the time.

Without rigging, Peter Obi will defeat his rivals with a wide margin. Fact....

Cc: Seun, Mynd44, OAM4J

politicians is favorite to emerge president next year

toneroforever:
This kind of news is not good for Tinubu's mental health. I pray he doesn't read the newspapers otherwise his health situation might relapse.

You don't need to worry. The shaky shaky old druggie doesn't read newspaper less than 8 months old

Muhammadu Buhari; he will never complete this tenure.

God's very hand will remove him, and God's own choice of a "president" will take over... Very shortly!

Just watch!

This current president; he will never complete this tenure.

God's very hand will remove him, and God's own choice of a "president" will take over... Very shortly!

Just watch!

But Rhino is having nightmares about it cos it will block where him dey chop from