Businessman Peter Obi, who will run for president in the Labour Party’s primary in 2023, has bemoaned the “dollarization” of the Nigerian economy.
Peter Obi asserts that the dollar’s widespread use in the nation has reduced productivity and diminished the value of the naira.
The dollar has evolved into our economy’s black market currency. No, it shouldn’t be. The naira is the name of our currency. It should be illegal to spend money on anything that isn’t useful. On Monday, October 2, Obi spoke with Arise TV.
“I can assure you that taking it out will make the currency stronger.
People now split the cost of elections, even for party primaries.
We don’t use that as money.
“The problem should be addressed with a severe penalty.
Allowing people to spend their money however they want is appropriate if they earn it legally.
But in our society today, it is a tool for corruption and crime.
“.
In order to strengthen the currency, Peter Obi added that the nation should focus more on exports.
