On Wednesday, May 20, President Bola Tinubu claimed that some individuals impacted by his administration’s changes in the foreign currency and oil subsidy sectors were wishing him dead.
Tinubu claimed that big interests who profited from the previous system were angered by the decision to eliminate the petrol subsidy and cancel multiple exchange rates.
At the publication of Chief Ayo Opadokun’s book, “The NADECO Story,” the President gave a speech in Lagos.
Awards were also given out at the occasion to people who were instrumental in Nigeria’s democratic movement under the National Democratic Coalition between 1994 and 1998.
Chief Olusegun Osoba, a former governor of Ogun State, represented Tinubu at the function.
Cabals Seek to Undermine Peace in Nigeria
Osoba delivered Tinubu’s message, stating that the President was aware of purported attempts by some interests to sabotage the nation’s peace due to his economic reforms.
He claimed that people who benefited from petrol subsidies and foreign exchange round-tripping were dissatisfied with the administration’s policies.
Regarding security, Osoba stated, “I should let you know that he is aware that there is a deliberate attempt to disrupt the peace of this country by people whom he knew he had offended by canceling multiple exchange rates and by canceling oil subsidies.”
He claimed that such round-tripping cabals would wish him dead at any moment, but he is adamant that he would make sure to reorganize the economy if that were his only option. He is resolved to confront it no matter what. That is Mr. President’s message, then.
When Tinubu took office in 2023, he declared that the gasoline subsidy would be eliminated and subsequently implemented foreign exchange reforms, including as the harmonization of exchange rates.
The government has maintained that the policies were required to stabilize the economy, but many Nigerians have expressed dissatisfaction with growing living expenses, sparking ongoing discussion throughout the nation.
According to Osoba, Tinubu promised NADECO members that their sacrifices to the fight would not be forgotten and acknowledged their contributions to Nigeria’s restoration to democracy.
He added that democracy needs to be preserved and upheld and that the President is still appreciative of those who battled for the nation’s democratic government.
Osoba went on to say that Tinubu had determined that security and the economy were the two main problems facing his administration at the moment.
“He says he is eternally thankful for what all of you have done to get this country to where it is today, and he has asked me that, by God’s grace, he will begin implementing some of the political issues when he is elected to a second term. Osoba stated that the economy and security are the main concerns he is now facing.
The former governor went on to say that the President was worried about security issues spreading to the Southwest.
As you can all see, the security situation is now progressively shifting into the South-West region. He said, “So he says the economy is the first major thing he is facing now.”
Additionally, Tinubu claimed that the difference between the official and parallel market prices had decreased as a result of his government’s foreign exchange reforms.
Osoba claims that the President said the naira had not dropped to the extent that his administration’s detractors had predicted.
“You can all see that the difference between the official market exchange rate and the parallel market is almost zero now,” he stated. They expected the naira to be between ₦2,000 and $1, but it is currently around ₦1,380.
He actually claims that he won’t let the naira rise too much. He does not want to confuse people who have brought products and money totaling approximately ₦1,500.
Despite opposition from those who profited from the former system, the President insisted that his administration would keep pursuing economic changes.
“I’ll Do Better in the Second Term”
If re-elected, Tinubu also pledged to do better in his second term.
According to Osoba, the President gave NADECO and pro-democracy campaigners credit for strengthening Nigerian democracy.
He claimed that without the sacrifices made by people who battled for democratic governance, Tinubu would not have become president.
Osoba stated, “The President asked me to tell you that he is completely with you and still has the utmost respect that he would not be where he is today if it weren’t for all of you here who have fought to entrench democracy.”
He stated that if Tinubu is elected to a second term, he has pledged to review some of the political concerns brought up by pro-democracy actors.
According to Naija News, a number of well-known Nigerians attended the event, including Nobel laureate Prof. Wole Soyinka, Olubadan of Ibadanland Oba Rashidi Ladoja, former Ogun State governor Aremo Olusegun Osoba, Prof. Sylvester Odion-Akhaine, Chief Fred Agbeyegbe, and Dr. Olisa Agbakoba, SAN.
Among those present were Sam Amuka, the publisher of Vanguard, one of NADECO’s founders, Professor Anya O. Anya; Dr. Ogaga Ifowodo, a rights activist; Akin Omojola; Professor Anthony Kila; Joke Silva, a Nollywood actress; Labaran Maku, a former Minister of Information; and Chief Solomon Asemota, SAN.
Senator Bode Olajumoke, Wale Oshun, Dr. Joe Okei-Odumakin, Lade Bonuola, Dr. Obi Nwakanma, Jumoke Anifowoshe, Wale Adeoye, and Vanguard Ombudsman Richard Akinnola were also in attendance.
