Why naira hasn’t become N10,000 per $1 – Pastor Adeboye

Abdullateef Fowewe

The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye has said without divine intervention, the exchange rate could have soared from N10,000 to $1.

Adeboye while speaking during the Special Holy Ghost Congress in Abuja, linked Nigeria’s financial struggles to its heavy reliance on fuel imports, despite being a significant oil-producing nation.

Adeboye criticised the billions spent on refineries that remain non-functional, forcing the country to depend on imported petrol.

Addressing the contentious removal of fuel subsidies, Adeboye noted that the decision angered those who had profited under the previous system, further exacerbating Nigeria’s economic woes.

He stated that “We need help, and it’s not human help; it’s divine help.”

Adeboye highlighted that the root of Nigeria’s financial difficulties predates the current administration, pointing to the ongoing importation of petrol despite abundant oil resources.

“Before our current President took office, we were aware that the root of our financial issues lay in the importation of petrol. Despite having oil, we continued to import petrol and waste billions on refineries that did not operate effectively.

“When the President cancelled the subsidy on petrol imports, those who benefited from it became upset and created more problems.

“If God hadn’t intervened, $1 could have been worth N10,000 by now. This illustrates how much we need prayers,” he added.