A pro-Tinubu group, the Tinubu Media Volunteers (TMV), has attributed the naira’s place among Africa’s strongest currencies in the second quarter of 2026 to the economic policies of President Bola Tinubu’s administration.
In a statement signed by its Chairman, Chukwudi Enekwechi, and Secretary, Segun Ogedengbe, the group said the ranking reflects the success of the ongoing reforms.
TMV cited the World Bank’s October 2026 Africa Economic Update, which assessed exchange rate movements across 22 African countries outside the CFA franc zone.
According to the group, the report found that the naira emerged among the continent’s strongest currencies despite market turmoil in the second quarter.
The group said the World Bank blamed currency pressures during the period on higher energy prices, geopolitical uncertainty, capital outflows and stronger demand for the US dollar.
It noted that the naira depreciated by 2.6 percent between March and June, placing it among the better performing currencies in that period.
“We are confident that the positive performance of the naira is a result of the economic policies and measures put in place by the President Tinubu administration,” the statement said.
TMV argued that the policies have made the naira resilient and Nigerian exports more competitive, allowing exporters to sell more products overseas. This, it said, has earned the country more foreign exchange and strengthened the currency.
“The turnover from these exports has also led to Nigerian businesses producing more products for export,” the group said.
The group added that the World Bank report is another sign that the Nigerian economy is being rejuvenated under the Tinubu administration.
