Pastor Enoch Adeboye, General Overseer of the Redeemed Christian Church of God (RCCG), has attributed the stability of Nigeria’s exchange rate to divine intervention, warning that without it, the naira could have plummeted to ₦10,000 to $1.
Speaking at the Special Holy Ghost Congress in Abuja, Adeboye reflected on Nigeria’s financial challenges, particularly under the previous administration. He emphasized the significant role of prayer in stabilizing the naira amid the country’s economic struggles.
Currently, the exchange rate stands at ₦1,730 to $1. Adeboye expressed that, had it not been for the fervent prayers of him and his followers, the naira’s rapid devaluation could have spiraled out of control.
“If we had not prayed, $1 would have been ₦10,000 by now. God stepped in and saved Nigeria,” Adeboye stated. He went on to highlight the issues Nigeria faced, including its dependency on imported fuel despite substantial investments in local refineries.
The pastor pointed to the challenges faced before President Bola Tinubu’s administration, particularly the ongoing need to import petrol, a resource the country is rich in. “How can we be importing petrol when we have this resource in abundance?” he questioned.
Adeboye also touched on the contentious issue of fuel subsidy removal, which initially sparked hope for positive change but also met resistance from those benefiting from the system. He praised President Tinubu for ending the importation of petrol, but noted the backlash from those who had profited from the status quo.
“Then they decided to create problems, and suddenly, the naira began to decline rapidly,” Adeboye explained. “I called on my people to pray, and some people joined in. If God had not intervened, by now, $1 would be about N10,000. But God stepped in,” he concluded.
