Mass Registration Follows Obi’s Move
Peter Obi’s recent defection has sparked a major political reaction. About 10 million Nigerians reportedly registered with the Nigerian Democratic Congress (NDC) within 24 hours.
The claim was made by Dr. Adefolaseye Adebayo, South West Coordinator of the Obi-Kwankwaso Movement. She described the surge as a strong sign of Obi’s national appeal.
Defection Reshapes Political Landscape
Obi, a former Anambra State governor, left the African Democratic Congress (ADC) on Sunday. He moved to the NDC alongside Rabiu Musa Kwankwaso.
The move has reshaped discussions ahead of the next general elections. It has also drawn mixed reactions from political observers.
Coordinator Defends Obi’s Chances
Some critics argued that Obi’s chances of winning the presidency have weakened. Adebayo rejected this view during a television interview.
She said Obi enjoys strong support across all six geo-political zones. According to her, his popularity goes beyond party affiliation.
She explained that his personality and leadership qualities continue to attract supporters nationwide.
Growing Support Across Regions
Adebayo insisted that Obi’s influence remains strong, especially among young voters. She said the reported mass registration reflects growing trust in his leadership.
She added that political alignment may change, but public support for Obi remains steady.
Focus Shifts to Upcoming Elections
The recent developments have increased attention on the NDC. Analysts say the party may gain momentum ahead of future elections.
For now, Obi’s move continues to generate debate. Supporters see it as a strategic shift, while critics remain cautious about its long-term impact.
Naira Trades Steady Against Dollar Across Markets
Subheadline: Exchange rate remains stable as demand pressure persists
Meta Description: The naira remains stable against the US dollar on May 5, 2026, with moderate differences between official and parallel market rates.
Naira Holds Steady in Official Market
The Nigerian naira traded within a stable range against the US dollar on May 5, 2026. Activity remained steady in the official market.
Data from Central Bank of Nigeria showed the rate at about ₦1,374 per dollar. Trading ranged between ₦1,362 and ₦1,378.
Parallel Market Shows Slight Increase
In the parallel market, rates were slightly higher. Bureau De Change operators in Lagos and Abuja quoted the dollar at about ₦1,385 for buying and ₦1,400 for selling.
Rates varied based on location and transaction size.
Moderate Gap Between Markets
The gap between official and parallel rates remained moderate. Efforts by the Central Bank of Nigeria have helped improve dollar supply in the formal market.
This has contributed to relative stability in recent days.
Demand Pressure Persists
Demand for foreign exchange remains high. Importers, travellers, and businesses continue to seek dollars.
Many still depend on alternative channels outside the banking system. This keeps pressure on the naira.
Outlook Depends on Key Factors
Analysts say the naira’s direction may change based on key factors. These include crude oil prices, foreign reserves, and monetary policy decisions.
For now, the currency remains stable but under close watch.
