“The first day Tinubu became president he canceled fuel subsidy and we were rejoicing” Enoch Adeboye

Pastor Enoch Adeboye, General Overseer of the Redeemed Christian Church of God (RCCG), recently commented on President Bola Ahmed Tinubu’s decision to remove the fuel subsidy.

In a video shared by Sahara Reporters TV, Adeboye reflected on the public’s varied reactions to the president’s move, which was made on his first day in office. He noted that while some Nigerians saw the subsidy removal as a necessary economic reform, others, particularly those who had benefited from fuel importation, expressed discontent.

Adeboye suggested that these disgruntled individuals may have contributed to the naira’s rapid decline against the dollar by deliberately acting in ways that fueled economic instability.

“In his exact words, Adeboye said: ‘When President Tinubu came in, the very first day he came, he said this money they spent in importing petrol (fuel subsidy), he said he cancelled it. We were all celebrating and thanking God, but some people were angry.

Those who were importing petrol decided to create a problem, and all of a sudden naira began to go down fast,’” Adeboye recounted.

The economic impact was swift, as the naira’s value began to plummet shortly after the announcement. Pastor Adeboye revealed that he responded to the crisis by urging his congregation to pray for divine intervention.

He stressed that without God’s help, the exchange rate could have spiralled out of control. “I cried to my people; I said let us pray. Thank God some people joined me in praying because the way naira was going then, if God had not intervened by now, 1 dollar would be about 10,000 naira, but God stepped in,” he stated.

Adeboye’s remarks highlight the complexities surrounding Tinubu’s bold economic reforms and their immediate impact on the nation’s currency.

watch the full video.