NADECO@32: Oil Subsidy, Exchange Rate Cabals Want Me Dead — Tinubu

President Bola Tinubu has alleged that powerful interests benefiting from fuel subsidy and multiple exchange rate practices are behind attempts to destabilise Nigeria and undermine his administration.

Tinubu made the remarks on Wednesday during the launch of The NADECO Story, a book written by NADECO chieftain, Chief Ayo Opadokun, in Lagos. The President was represented at the event by former Ogun State governor, Aremo Olusegun Osoba.

According to Osoba, Tinubu said individuals and groups affected by the removal of fuel subsidy and the unification of the foreign exchange market were angry over the reforms because they had previously profited from “round-tripping” and other economic distortions.

“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 quoted the President as saying.

Tinubu also reportedly linked the actions of the cabals to attempts to fuel insecurity and disrupt peace across the country.

The President, however, insisted that his administration would continue with the economic reforms despite opposition from vested interests. Osoba said Tinubu remained focused on tackling insecurity and stabilising the economy before embarking on broader political reforms.

“He says the major issue before him now is the economy and security,” Osoba added, noting that the President believes recent reforms have helped stabilise the naira and narrow the gap between the official and parallel market exchange rates.

The event brought together several pro-democracy activists, political leaders and civil society figures who participated in the struggle against military rule during the 1990s.

Among those present were Nobel Laureate, Wole Soyinka, rights lawyer Olisa Agbakoba, and former Oyo State governor Rasheed Ladoja.

Speakers at the event emphasised the need to preserve democracy and honour those who sacrificed for Nigeria’s return to civil rule.