President Bola Tinubu has accused powerful groups benefiting from fuel subsidy and multiple exchange rate regimes of wishing him dead, saying they are behind attempts to destabilise the country following his economic reforms.
The President made the statement on Wednesday, May 20, 2026, in Lagos at the launch of _“The NADECO Story”_, a book by NADECO chieftain Chief Ayo Opadokun. The event marked 32 years since the National Democratic Coalition led the struggle against military rule.
Tinubu was represented by former Ogun State Governor Olusegun Osoba, who read his remarks to an audience that included Nobel Laureate Wole Soyinka, Dr. Olisa Agbakoba, and Olubadan of Ibadanland Rasheed Ladoja.
“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,” Osoba said on Tinubu’s behalf.
The President said those involved in “round-tripping” and subsidy regimes were angered by his decision to remove fuel subsidy and unify the exchange rate shortly after assuming office in 2023. c723
“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,” Osoba stated.
Tinubu argued that the old subsidy and multiple forex systems created loopholes for corruption and arbitrage, benefiting a small network of insiders while draining public resources. He said the reforms were necessary to prevent Nigeria from sliding deeper into financial crisis.
On the economy, the President noted that the gap between the official and parallel market exchange rates had narrowed significantly. The naira, which some predicted would hit ₦2,000 to the dollar, is now trading around ₦1,380. He said his administration would avoid sudden appreciation that could disrupt businesses that bought goods at higher rates….See More
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