Kehinde Fajobi
Pastor Enoch Adeboye, the General Overseer of the Redeemed Christian Church of God (RCCG), has attributed the recent stability in Nigeria’s exchange rate to divine intervention, warning that without prayers, the naira might have fallen to ₦10,000 per dollar.
Speaking at the Special Holy Ghost Congress in Abuja, Pastor Adeboye said that prayers from himself and his congregation helped prevent the naira’s free fall.
He noted, “If we had not prayed, $1 would have been ₦10,000 by now. God stepped in and saved Nigeria.”
The naira currently trades at approximately ₦1,730 to the dollar.
Adeboye reflected on the country’s pre-existing economic challenges, including the billions spent on non-functional refineries and the heavy reliance on imported petrol.
He remarked, “Before our president came in, everybody knew that the major reason we were having financial problems is the fact that a lot of money was being spent to import petrol.
“How can we be importing petrol when we have this resource in abundance here? We spent billions of naira on our refineries, and yet they didn’t work. So, we had to keep on importing fuel.”
The cleric commended President Bola Tinubu for removing fuel subsidies on his first day in office, describing the move as a step towards reform.
However, he acknowledged the backlash from those benefiting from the importation system.
“That’s why when the president came in, the very first day he said these money spent on importing petrol are canceled. We were all rejoicing, but some people were angry — those making money from importing petrol.
“Then they decided to create problems, and suddenly, the naira began to decline rapidly. I called on my people to pray, and some people joined in.
“Because the way the naira was declining, if God had not intervened, by now, $1 would be about ₦10,000. But God stepped in,” he concluded.