President Bola Tinubu yesterday disclosed that oil subsidy and exchange rate cabals are wishing him dead because of his decision to remove the petrol subsidy and unify the naira-to-dollar exchange markets upon assumption of office in May 2023. He added that fuel subsidy and exchange rate cabals are the ones fuelling insecurity in the country.
The President stated this through former Ogun State governor, Olusegun Osoba, at the launch of the book, “The NADECO Story” written by Chief Ayo Opadokun, and the presentation of awards to those who played key roles in the democratic struggle by the National Democratic Coalition (NADECO), which led the struggle between 1994 and 1998, in Lagos.
According to him, “As for security, he says, 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 said those cabals who are doing round-tripping will wish him dead any time but he is determined that if that is the only thing he would do, he would make sure he rearranges the economy. No matter what, he is determined to face it. So that’s the message from Mr. President.”
Tinubu commended NADECO for the struggle, acknowledging that he won’t be in power today without NADECO, and promised to perform better in his second term, if re-elected.
Osoba said: “The President asked me to tell you that he is fully with you, and he still has his tremendous respect that he would not have been where he is today if not for all of you here who have fought to entrench democracy.
“He says he is ever grateful for what all of you have done to bring this country to where we are today, and he has also asked me that, by the grace of God, many of the things that you people have been asking him to do, that when he gets his second term, he is going to start implementing some of the political issues. He said the major issue before him now is the economy and security.
“You all can see now that the security situation is now moving gradually into the South-West zone. So he says the first major thing he is facing now is the economy, and, you all can see that the difference between the parallel market and official market exchange rate is virtually zero now. The Naira, which they thought would be N2,000 to 1 dollar, is now 1,380 or thereabouts.
“In fact, he says he is not going to allow the Naira to get too strong. He does not want to create confusion for those who have brought money at about N1,500 and other goods.”
