Tinubu’s outburst on exchange rate, an attack on PDP not Buhari


THE Presidential Campaign Council (PCC) of the All Progressives Congress (APC) has said the party’s presidential candidate, Bola Tinubu did not criticise President Muhammadu Buhari in his outburst in Calabar, Cross River State, on Tuesday, January 31.

Tinubu, while condemning the current exchange rate of the naira at rally in Calabar, said President Buhari’s administration met the naira/dollar exchange rate at N200 but the naira had since depreciated in value to about N800 to a dollar at the parallel market.

Responding to the outburst on Wednesday, February 1, media director of the PCC, Bayo Onanuga said Tinubu blamed the Peoples Democratic Party (PDP) for the current exchange rate crisis experienced in the country.

He stated that Buhari’s administration has been able to build back the reserve to about $38 billion.

According to Onanuga, “The reference to the exchange rate was not in any way an attack on the Muhammadu Buhari-led All Progressives Congress administration but an attempt to capture how the economic mismanagement of the PDP created a forex crisis in the country since 2015.”

He said that anyone who followed the entire sequence and context of what Tinubu said at the rally in Calabar will know he directed his missiles at PDP and Atiku Abubakar.

“Let’s not forget, the PDP left the forex reserve at $28 billion by May 2015, when Buhari took over despite unprecedented revenue from crude oil. The futile attempt to misrepresent Asiwaju Tinubu by the mischievous PDP media did not detract from his central message.

“Asiwaju Tinubu could not have meant that President Buhari does not know the road, having celebrated, numerous times, the achievements of the Buhari administration. Tinubu had also said at campaign fora he would build on the achievements, when elected on 25 February.

“Our candidate explicitly said the people should not follow PDP and Atiku because they don’t know the road,” Onanuga added.


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