Speaking in Abeokuta over the weekend, the former senator and daughter of former President Olusegun Obasanjo said exchange rate predictability is critical to economic growth and business confidence. She made the remarks while addressing journalists at the Olusegun Obasanjo Presidential Library.
Currency Stability as Economic Anchor
According to her, the stabilisation of the Naira against the dollar is not merely symbolic but foundational for economic planning. She noted that businesses thrive in environments where import costs, pricing structures, and projected revenues can be forecast with reasonable certainty.
“When the exchange rate is stable, people can predict how much they will spend on imports and how much income they are likely to generate,” she said, describing the development as “a big one” for the economy. In her view, currency volatility had previously distorted pricing mechanisms, forcing businesses to buy goods at one rate and sell at unpredictable margins due to sudden exchange fluctuations.
She stressed that improved economic predictability encourages trade, investment, and overall prosperity, arguing that stability ultimately reduces inflationary pressures tied to foreign exchange instability.
Coastal Road Project and Economic Connectivity
Beyond currency reforms, Obasanjo lauded the Lagos–Calabar Coastal Road project, describing it as a strategic infrastructure investment with far-reaching implications. Despite earlier criticisms surrounding the project, she maintained that it holds the potential to generate income, enhance port connectivity, and stimulate commerce along its corridor.
She explained that linking Lagos and Calabar ports would ease logistics, decongest traffic along the busy Lagos–Ibadan Expressway corridor, and improve access to the Eastern states. According to her, the road’s economic impact could extend beyond transportation, fostering trade expansion and regional integration.
Obasanjo also pointed to what she described as gradual improvements in security, attributing them to enhanced collaboration both domestically and internationally. She referenced the President’s diplomatic engagements abroad as part of a broader push to strengthen trade partnerships and economic cooperation.
2027 Ambition and Gender Inclusion
The former Ogun Central senator, who has declared her intention to contest the 2027 governorship election in Ogun State, said her years of public service have strengthened her credentials for leadership. A former Commissioner for Health between 2003 and 2007, she argued that Ogun State is well positioned to produce Nigeria’s first female governor.
Highlighting the state’s high literacy rate and long tradition of female leadership, she invoked historical figures such as Madam Tinubu and the famed Egba women warriors as examples of women who shaped political and social movements in the region. She described Ogun as a natural trailblazer for gender inclusion in governance.
Zoning Debate and Ogun West Question
On the perennial debate over power rotation in Ogun State, Obasanjo addressed concerns that Ogun West has yet to produce a governor since the state’s creation in 1976. She maintained that leaders from Ogun Central, including her father, had previously supported efforts to facilitate a governor from the West, though without success.
She expressed the view that unless Ogun East and Ogun Central concede political space, it may remain difficult for Ogun West to secure the governorship. According to her, no firm consensus or zoning agreement currently exists between the two dominant blocs to pave the way for the West.
As political alignments gradually begin to take shape ahead of 2027, Obasanjo’s remarks reflect both an endorsement of federal economic reforms and an emerging state-level contest that could test longstanding political arrangements in Ogun State.