Tinubu’s reforms boosting confidence in Naira — Onanuga

The Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, has said that ongoing economic reforms are restoring foreign confidence in the Naira and positioning it as a viable international means of exchange.

Onanuga, in a statement posted on his X (formerly Twitter) handle, described the development as salutary for the Nigerian economy, noting that the reforms were gradually reducing overreliance on the US dollar.

“The Almighty US dollar is not the ultimate king here. The Naira is waxing stronger as an international means of exchange,” he wrote.

Citing his personal experience, Onanuga disclosed that several Chinese e-commerce platforms now accept payments directly with Naira cards, a shift he attributed to renewed confidence in the local currency under Tinubu’s leadership.

He, however, accused opposition figures including former Kaduna State Governor Nasir El-Rufai, former Vice President Atiku Abubakar, and Labour Party’s Peter Obi of refusing to acknowledge the positive development, alleging that they were “waiting for disasters to vent their political frustration on President Tinubu.”

Onanuga maintained that the acceptance of the Naira internationally signals the gradual impact of Tinubu’s economic reforms, which are aimed at stabilising the currency, boosting trade, and strengthening Nigeria’s position in the global market.

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