The Tinubu Media Volunteers (TMV) has attributed the naira’s emergence among Africa’s best performing currencies in the second quarter of 2026 to the economic reforms introduced by President Bola Tinubu’s administration.
The group said the currency’s performance, as reported by the World Bank, reflected the impact of ongoing economic policies aimed at strengthening the naira, boosting exports and improving foreign exchange earnings.
In a statement signed by its Chairman, Chukwudi Enekwechi, and Secretary, Segun Ogedengbe, TMV said the World Bank’s October 2026 Africa Economic Update identified the naira as one of the continent’s better performing currencies despite market volatility during the period.
According to the group, the report assessed exchange rate movements across 22 African countries outside the CFA franc zone and found that the naira depreciated by 2.6 per cent between March and June 2026.
TMV noted that the currency’s relatively modest depreciation occurred amid pressures from rising energy prices, geopolitical uncertainty, capital outflows and increased demand for the United States dollar.
“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 group said.
It argued that the reforms had helped strengthen the resilience of the naira while making Nigerian exports more competitive in international markets.
According to TMV, improved export competitiveness has enabled Nigerian businesses to sell more products abroad, generate additional foreign exchange earnings and expand production to meet overseas demand.
The group maintained that these developments demonstrated the potential benefits of the administration’s economic policies, particularly in strengthening the country’s external trade position and supporting currency stability.
TMV described the World Bank report as another indication of what it called the ongoing rejuvenation of the Nigerian economy under the Tinubu administration.
