The CEO of the Redeemed Church, Pastor Enoch Adeboye has made it clear that if not for God’s divine interventions, the naira to dollar exchange rate could have escalated to $1 to ₦10,000. Speaking at the Special Holy Ghost Congress in Abuja, he attributed the naira current exchange rate stability to divine intervention.
If God didn’t intervene. $1 will be N10,000 by now – Pastor Adeboye.
Recall that the naira to dollar exchange rate was once almost in N2000 per $1 in the previous month.
Pastor Adeboye highlighted Nigeria’s economic struggles prior to President Bola Tinubu’s administration, emphasizing the paradox of a nation rich in oil resources relying heavily on fuel imports.
He criticized the inefficiency of refineries, despite the billions spent on them, which left the country dependent on costly imports.
Adeboye acknowledged that while the removal of fuel subsidies initially offered hope for reform, it soon faced resistance from individuals and groups profiting from the previous system.
What Adeboye Says
“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. That’s why when the president came in, the very first day he came, 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 N10,000. But God stepped in.”
