President Bola Ahmed Tinubu recently addressed members of The Buhari Organisation (TBO) in Abuja, where he claimed that the Nigerian Naira had significantly strengthened against the US Dollar under his leadership. According to President Tinubu, the exchange rate improved from ₦1,900 to $1 when he assumed office to ₦1,450 to $1 at present, reflecting a stabilised economy. He also stated that his government met its 2024 revenue target ahead of schedule without resorting to borrowing.

During his address, Tinubu emphasised his administration's commitment to fixing the economy, creating employment opportunities, and ensuring food sovereignty through modernised agriculture. He unveiled plans for a comprehensive mechanisation programme, which includes establishing agricultural centres, providing training schemes, and generating jobs nationwide. Furthermore, President Tinubu dismissed concerns regarding potential impacts of United States President Donald Trump’s trade tariffs on Nigeria, asserting that his government is dedicated to building a stronger, diversified economy reliant on non-oil revenue.

The delegation from The Buhari Organisation, led by former Nasarawa State Governor Tanko Al-Makura and House of Representatives Speaker Abbas Tajudeen, pledged their unwavering support for Tinubu’s administration and his bid for re-election in 2027. President Tinubu expressed gratitude for their loyalty and reiterated his intention to immortalise the late former President Muhammadu Buhari by constructing a 'Buhari House.'

However, an independent verification of President Tinubu’s claims revealed discrepancies. The claim that the Naira was at ₦1,900 to $1 at his inauguration in May 2023 was found to be false. At that time, Nigeria operated a multiple exchange rate system, with the parallel market rate around ₦750 to $1. The dramatic depreciation of the Naira to ₦1,800–₦1,900 to $1 actually occurred in February and March 2024, nearly a year into his term, following key economic reforms such as the removal of fuel subsidy and the unification of exchange rate windows by the Central Bank of Nigeria (CBN).

Regarding the current exchange rate, President Tinubu’s figure of ₦1,450 to $1 was also deemed inaccurate. While the Naira has indeed appreciated from its lowest point in March 2024, reported data for August 2025 indicated that the currency had strengthened to approximately ₦1,525 to $1, with the CBN reporting a rate of ₦1,531.45 to $1 on August 29, 2025. This figure, though showing significant recovery, differs from the value claimed by the President.