The Naira is Waxing Stronger Against the Dollar, But Opposition Won’t Celebrate – Bayo Onanuga

• Presidential spokesperson Bayo Onanuga praised Tinubu’s reforms, citing reports that Chinese traders now accept Naira instead of dollars.

• He said the development shows growing global confidence in Nigeria’s currency but claimed Atiku Abubakar, Peter Obi, and Nasir El-Rufai would not acknowledge it.

Presidential spokesperson Bayo Onanuga has hailed recent developments in Nigeria’s foreign exchange market, describing them as a sign of renewed confidence in the Naira.

Reacting to reports that some Chinese traders are now accepting the Naira in place of the U.S. dollar, Onanuga said this reflects the impact of President Bola Tinubu’s economic reforms.

He noted that the “almighty U.S. dollar is not the ultimate king” and argued that the Naira is “waxing stronger as an international means of exchange.” Onanuga also revealed that he has successfully made purchases on Chinese platforms using Naira cards, which he said further proves the growing acceptance of Nigeria’s currency abroad.

However, he added that opposition figures such as Atiku Abubakar, Peter Obi, and Nasir El-Rufai would not celebrate the development, alleging they were more focused on waiting for setbacks to criticize Tinubu’s government.

Onanuga described the shift as “a salutary development for the Nigerian economy,” stressing that it shows foreigners are beginning to place renewed faith in the Naira.

In other news… Singer Qing Madi has expressed concerns about the challenges female artists face in the Nigerian music industry. She argued that the industry often fails to support and protect women, resulting in limited acceptance for female musicians.

The “American Love” singer also highlighted that women in music frequently face unwarranted criticism.

During a recent appearance on the Wahala Podcast, Qing Madi stated, “I feel the industry isn’t very supportive of women, both in terms of protection and general appreciation.”

“Women have to do twice as much work as their male counterparts. Women are oftentimes criticised for nothing. But they don’t do that to the men. The men have the right to do whatever they like, but for the women, society just wants to box women so much.

“I go through that, which is crazy because I’m 19. So what do you want me to do? Women never get a break. So I’m super proud of being a female artist in Nigeria. And I’m super proud of every female artist in Nigeria because it takes a lot [to be one]. It’s not easy.”