2027: Obi Plans to Strengthen Naira to N500 Per Dollar, Utomi Reveals Economic Agenda

According to Vanguard Newspapers on Friday, October 30, 2026, political economist and chieftain of the Nigeria Democratic Congress (NDC), Professor Pat Utomi, has revealed that Peter Obi’s economic plan ahead of the 2027 presidential election targets strengthening the Nigerian naira to N500 against the United States dollar.

Utomi explained that the proposed exchange rate target is part of the economic agenda Obi intends to pursue if elected president in 2027. He believes that a stronger naira would help reduce inflation, lower the cost of living and improve the purchasing power of Nigerians.

According to him, the plan is designed to strengthen the country’s economy through currency appreciation, improved infrastructure and major investments in important sectors.

Utomi stated that the NDC’s proposal aims to strengthen the naira from approximately N1,350 per dollar to N500 per dollar. He described the target as an important step towards reducing poverty and making essential goods more affordable for ordinary Nigerians.

The political economist also explained that the proposed economic programme could lead to significant reductions in food prices.

He projected that a 50kg bag of imported rice, currently estimated at N55,000, could fall to N27,500. Similarly, the price of a loaf of sliced bread could drop from N1,750 to N800.

Other projected reductions include a medium-sized tuber of yam falling from N2,400 to N1,200, while a dozen eggs could decline from N2,300 to N1,150.

Utomi also mentioned that the prices of maize, plantain, chicken and garri could reduce significantly under the proposed economic programme.

Beyond the exchange rate target, he highlighted the importance of improving electricity supply, strengthening security and investing in road infrastructure. According to him, these improvements would help businesses operate more efficiently, reduce production costs and encourage economic growth.

He argued that addressing these challenges would create better opportunities for businesses and improve the living conditions of millions of Nigerians.

However, the proposed N500 exchange rate remains an economic target rather than a guaranteed outcome. Achieving it would require effective monetary policies, sufficient foreign exchange supply, increased productivity and strong economic management.

The announcement comes as political parties begin presenting their plans ahead of the 2027 general election.

With Nigerians continuing to face high living costs and economic challenges, Obi’s proposed economic direction is likely to become an important subject of discussion as the election approaches.

Many Nigerians will be interested in understanding how the proposed policies would be implemented and whether they could deliver the promised improvements to the economy.

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