President Bola Ahmed Tinubu recently addressed members of The Buhari Organisation (TBO) in Abuja, claiming a significant strengthening of the naira against the dollar under his administration. He stated that the exchange rate moved from N1,900/$ when he assumed office to N1,450/$ at present, attributing this development to a stabilized economy where the government has met its 2024 revenue target ahead of schedule without resorting to borrowing. Tinubu further asserted that the economy had stabilized, eliminating the need for intermediaries to access foreign exchange.

Beyond exchange rate claims, President Tinubu outlined his administration's commitment to economic rejuvenation, job creation, and ensuring food sovereignty through modernized agriculture. He announced a comprehensive mechanisation programme, which includes establishing agricultural centres, implementing training schemes, and generating employment opportunities nationwide. Furthermore, Tinubu dismissed concerns regarding potential trade tariffs from former United States President Donald Trump, emphasizing Nigeria's progress in building a stronger, diversified economy driven by non-oil revenue.

The TBO delegation, led by former Nasarawa State Governor Tanko Al-Makura and House of Representatives Speaker Abbas Tajudeen, pledged their unconditional support for Tinubu’s administration and his 2027 re-election bid. In response, President Tinubu expressed gratitude for their loyalty, reminiscing about his political partnership with the late former President Muhammadu Buhari, and committed to immortalizing Buhari by establishing a "Buhari House."

However, a subsequent verification of President Tinubu's claims regarding the naira's exchange rate revealed significant inaccuracies. While Tinubu asserted the naira was at N1,900/$ when he took office on May 29, 2023, this claim is false. At his inauguration, Nigeria operated a multiple exchange rate system; the parallel market rate, which serviced a significant portion of the economy, was around N750 to $1. The dramatic depreciation of the naira to the N1,900/$ mark did not occur in May 2023. Instead, this low point was reached nearly a year into his term, specifically in February and March 2024, trading at approximately N1,800–N1,900 to $1 in the parallel market. This devaluation was a direct consequence of key economic reforms implemented by his administration in mid-2023, including the removal of the fuel subsidy and the unification of exchange rate windows.

Furthermore, President Tinubu's claim that the naira had strengthened to N1,450/$ by August 2025 is also incorrect. While the currency did appreciate from its lowest point in March 2024, reported data for August 2025 indicates the rate was not N1,450 to $1. Instead, reports show the naira had strengthened to approximately N1,525 to $1, with the Central Bank of Nigeria (CBN) reporting a rate of N1,531.45 to $1 on August 29, 2025. Therefore, despite a recovery from its lowest point, the specific figures quoted by President Tinubu for both the starting and current exchange rates were found to be false upon verification.