The presidential candidate of the All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu, has berated the Muhammadu Buhari-led government over the depreciation of the naira and high exchange rate.
The APC flagbearer said the Buhari administration has failed to manage the economy very well, which had led to the depreciation of the nation’s currency.
According to Tinubu, when the Buhari government took over, the naira/dollar exchange rate was about N200 to a dollar, but it has depreciated to about N800 to the dollar on the parallel market.
The former Governor of Lagos State stated this on Tuesday at the party’s presidential campaign rally in Calabar, Cross River State, South-South Nigeria.
He said: “Today, they moved the exchange rate from N200 to N800. If they had repaired it, if they had arrested this, we won’t be where we are today, we will be greater. “They don’t know the way, they don’t know how to think, they don’t know how to do.”
It was reported that this development comes a few days after Tinubu claimed that there is a plan to sabotage the forthcoming elections and his victory with the lingering fuel scarcity in the country as well as the naira redesign.
However, after the statement sparked reactions from the opposition, the former Lagos governor had denied that the outburst wasn’t targeted at the president, but some government officials working with the Peoples Democratic Party (PDP).