Peter Obi’s 2027 Economic Plan targets N500/$1 and make bread promote for N800—Prof. Pat Utomi

Political economist and chieftain of the Nigeria Democratic Congress (NDC), Pat Utomi, says the social gathering’s presidential candidate, Peter Obi, plans to strengthen the naira to N500 per greenback if elected in 2027.

In a publish on X, Utomi acknowledged that strengthening the alternate charge from its present degree of about N1,350 to N500 per greenback serves as a central technique to curb inflation, alleviate poverty, and restore buying energy for on a regular basis residents.

“We are convinced that targeting a strategic appreciation of the exchange rate by reasonably strengthening it from ₦1,350/$ to ₦500/$ as part of our manifesto is a winning strategy,” Utomi wrote.

“It offers a direct, multi-faceted approach to curbing inflation, reducing poverty, and lowering the cost of living.”

Utomi outlined particular commodity worth reductions projected underneath the proposed alternate charge adjustment. He estimated {that a} loaf of sliced bread promoting for N1,750 might fall to N800, whereas a 50kg bag of imported rice might drop from N55,000 to N27,500.

Additionally, a medium-sized tuber of yam would decline from N2,400 to N1,200, a 50kg bag of maize from N75,000 to N37,500, a bunch of plantain from N2,500 to N1,250, an entire rooster from N7,000 to N3,500, a dozen eggs from N2,300 to N1,150, and a painter of garri from N1,300 to N650.

He emphasised that the financial framework displays the social gathering’s dedication to delivering sensible aid to susceptible households throughout the nation.

“It clearly demonstrates our concrete plan to uplift the 140 million Nigerians currently experiencing multi-dimensional poverty,” he added.