You are mendacity, Peter Obi can’t make Naira N500 to greenback – Tinubu campaigner Showunmi knocks Utomi

A member of the All Progressives ⁸Congress, APC, Presidential Campaign Council, Segun Showunmi, has faulted Professor Pat Utomi over his declare that Peter Obi can push the naira to N500 to 1 greenback if elected president in 2027.

In an announcement on Friday, Showunmi described Utomi’s declare as a elementary fallacy, insisting[ that such promise will not be life like and is aimed toward deceiving Nigerians.

DAILY POST remembers that Utomi had earlier claimed that if Peter Obi, the presidential candidate of the Nigeria Democratic Congress, NDC, is elected president in 2027, he’ll strengthen the naira to N500 to 1 greenback by way of correct financial administration.

Reacting, nonetheless, Showunmi stated Utomi’s declare is deceptive and exhibits a lack of information of how the financial system works and the way overseas trade is decided.

According to him, making the naira N500 to a greenback will not be one thing that may be achieved simply by one man turning into president, because the financial system is extra complicated than that and entails many components together with manufacturing, export, and overseas reserves.

He additionally stated politicians ought to cease making unrealistic guarantees to Nigerians simply to win votes, including that such guarantees make individuals lose belief in politicians.

“‘The fundamental fallacy is the assumption that an administrative or politically declared appreciation of the naira from N1,350 to N500 per dollar will automatically translate into a 50% reduction in the prices of virtually every essential commodity,” the statement read in part.