Olowofela Commends Tinubu for Successful Naira Recovery 

From Taiwo Oluwadare,  Ibadan

Olowofela, a former Commissioner for Education in Oyo State, expressed his admiration for Tinubu’s economic wizardry in his article titled ‘Tinubu’s Naira Miracle: Abracadabra or Economic Wizardry?’.

Olowofela began by highlighting the confidence that Nigerians had placed in Tinubu prior to assuming the presidency, with his promise to rescue the country’s economy from its impending disaster. He then delved into the alarming depreciation of the Naira against the Dollar over the past 43 years, showcasing a graph to support his claims.

According to Olowofela, the Naira’s sustained upward trend could have resulted in it reaching 2,500 Naira to one Dollar by now. However, under Tinubu’s leadership, the federal government successfully halted this expected decline. Olowofela pointed out that the Naira has appreciated to 1,200 Naira to a Dollar, contrary to the projected 2,500 Naira to one Dollar based on the exponential pattern observed in the graph.

The Commissioner deemed this achievement as evidence of Tinubu’s unprecedented economic prowess. He even speculated that if this trajectory continues, the Naira may appreciate to 500 Naira against 1 Dollar by the end of Tinubu’s first term in 2027. Olowofela acknowledged that although the purchasing power of the average Nigerian remains relatively low, there is a palpable sense of hope on the rise.

Olowofela therefore expressed his hope that the Economic Team advising the President will continue their efforts in stabilizing the economy and preventing its collapse, ultimately leading Nigeria towards economic prosperity. He likened the government’s ability to reverse the Naira’s free fall within a year to a remarkable feat, comparing it to a lizard falling from the top of a tree unscathed and nodding its head in self-applause. Olowofela ended his article by applauding the President’s efforts in the Naira recovery.