Naira’s ranking among Africa’s strongest currencies, reflective of President Tinubu’s economic policies – Group

The Tinubu Media Volunteers (TMV) has attributed the emergence of Nigeria’s currency, the naira, among Africa’s strongest currencies in the second quarter of 2026 to the economic policies enunciated and being implemented by the President Bola Tinubu administration.

In a statement signed by its Chairman Chukwudi Enekwechi and Secretary Segun Ogedengbe, TMV noted that the ranking reflects the success of the ongoing reform.

The statement read in part. “It is noted that the World Bank in its October 2026 Africa Economic Update, which assessed exchange rate movements across 22 African countries outside the CFA franc zone, announced that the naira has emerged among Africa’s strongest currencies despite Q2 market turmoil.

“The World Bank report equally attributed the currency pressures to higher energy prices, geopolitical uncertainty, capital outflows and stronger demand for the US dollar.

“It is also noted that the report stated that the naira depreciation between March and June stood at 2.6%, placing it among the better-performing currencies during the 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.
“Such measures have, in our view, made the naira resilient while Nigerian exports have become competitive. In short, there is higher productivity as Nigerian exporters are able to sell their products overseas. This has in turn earned Nigeria more foreign exchange and equally strengthened the naira.

“The turnover from these exports has also led to Nigerian businesses producing more products for export.”

The group added that the World Bank report is yet another signal that the Nigerian economy is being rejuvenated under the Tinubu administration.