During an interview with Arise TV on Monday, he shared his views on the country's current situation, particularly emphasizing the need for a reevaluation of the Naira's value.
According to Obi, the prevalence of the dollar as an underground currency in the Nigerian economy is problematic. He stressed the importance of focusing on the national currency, the Naira, and suggested that non-productive activities currently reliant on the dollar should be eliminated.
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."
He further pointed out instances where the dollar is being used for activities that should be conducted in Naira, including party primaries. Obi emphasized that there should be strict penalties for those engaging in such practices, turning the legitimate use of dollars into a means of corruption and criminality within the system.
Peter Obi also advocated for a greater focus on exports as a means to enhance the currency's stability and strength.
