The Tinubu Media Volunteers (TMV) has attributed the naira’s emergence among Africa’s strongest-performing currencies in the second quarter of 2026 to the economic reforms introduced by President Bola Tinubu’s administration.
The group said the currency’s performance demonstrated the positive impact of the government’s ongoing economic policies and measures aimed at strengthening the Nigerian economy.
In a statement signed by its Chairman, Chukwudi Enekwechi, and Secretary, Segun Ogedengbe, TMV described the naira’s ranking as an indication that the country’s economic reform agenda was yielding positive results.
The group noted that the World Bank, in its October 2026 Africa Economic Update, assessed exchange rate movements across 22 African countries outside the CFA franc zone and identified the naira as one of the continent’s better-performing currencies despite market turbulence in the second quarter.
According to TMV, the report identified rising energy prices, geopolitical uncertainties, capital outflows and increased demand for the United States dollar as factors that exerted pressure on African currencies during the period.
It added that the naira depreciated by 2.6 per cent between March and June, placing it among the currencies that performed relatively well amid the prevailing economic challenges.
TMV expressed confidence that the development was linked to the economic policies implemented by the Tinubu administration, which it said had helped improve the resilience of the naira and enhance the competitiveness of Nigerian exports.
The statement read in part: “We are confident that the positive performance of the naira is a result of the economic policies and measures put in place by the President Tinubu administration.
“Such measures have, in our view, made the naira resilient while Nigerian exports have become competitive. Nigerian exporters are now able to sell their products overseas, earning the country more foreign exchange and contributing to the strengthening of the naira.
“The turnover from these exports has also led to Nigerian businesses producing more products for export.”
The group further described the World Bank’s assessment as another indication that the Nigerian economy was undergoing a revival under the Tinubu administration.
TMV maintained that sustained implementation of the government’s economic reforms would continue to support productivity, boost export earnings and strengthen the country’s economic outlook.