Peter Obi will crash dollar to N500, slash bread to N800, rice to N27,500 if elected— Pat Utomi

According to a post on X on Thursday, October 29, 2026, political economist Pat Utomi said Peter Obi’s presidential campaign under the Nigeria Democratic Congress (NDC) planned to strengthen the naira to N500 against the dollar if elected in 2027.

Utomi explained that the proposal formed part of the party’s economic plan to tackle inflation, reduce poverty and improve Nigerians’ purchasing power. He said it would be supported by investments in security, electricity and road infrastructure. He also identified structural reforms as part of the strategy to improve the economy.

He projected that the exchange-rate target could lead to significant reductions in the prices of essential commodities. According to him, a loaf of sliced bread could drop from N1,750 to N800. A 50kg bag of imported rice could fall from N55,000 to N27,500. He also estimated that a medium-sized yam could decline from N2,400 to N1,200, while a 50kg bag of maize could drop from N75,000 to N37,500.

He wrote, “Peter Obi will crash dollar to N500, slash bread to N800, rice to N27,500 if elected.”

Utomi further projected that plantain could fall from N2,500 to N1,250. A whole chicken could drop from N7,000 to N3,500, while a dozen eggs could decline from N2,300 to N1,150. He added that a painter of garri could fall from N1,300 to N650. Petrol and cement prices would also become cheaper under the proposal.

He described the plan as a strategy to curb inflation, reduce poverty and lower the cost of living. Utomi said it was aimed at improving the living conditions of about 140 million Nigerians experiencing multidimensional poverty. However, he did not state when the N500-to-dollar target would be achieved or explain the monetary and fiscal measures required to sustain it.

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