The Nigerian Naira would have plunged to N10,000 to $1, but for prayers from citizens across the country, the Redeemed Christian Church of God (RCCG) General Overseer, Pastor Enoch Adeboye has said.
The renowned pastor, who has been making controversial comments recently, said this during the Special Holy Ghost Congress held in Abuja on Thursday.
Adeboye attributed Nigeria’s economic struggles to an overreliance on petroleum products as the main source of revenue, coupled with the nation’s long-standing dependence on fuel importation despite being an oil-producing country.
Highlighting the challenges, Adeboye noted the failure of previous efforts to make Nigeria’s refineries functional.
According to The Matrix, Adeboye also addressed the controversies surrounding the removal of fuel subsidies by the Tinubu administration, arguing that the policy disrupted the beneficiaries of the old system, creating new economic hurdles.
He remarked, “Before our current president took office, we knew the root of our financial issues was in petrol importation. When the president removed the subsidy, those who benefitted from it retaliated, causing further problems.”
As the naira’s value continued to slide, Adeboye said prayers played a critical role in halting its free fall. “If God hadn’t intervened, $1 could have been worth N10,000 by now. This shows the importance of prayers,” he said.
Since President Tinubu assumed office in May 2023, the naira has weakened significantly, moving from about N400 per dollar to its current rate of around N1,700 per dollar. Meanwhile, fuel prices have skyrocketed, rising from under N200 per liter to over N1,000 per liter nationwide.
Adeboye called for divine intervention and practical solutions to address Nigeria’s mounting economic challenges.
