President Bola Tinubu has said powerful interests benefiting from fuel subsidy and multiple exchange rate systems are unhappy with his administration’s economic reforms and would rather see him dead than allow the policies succeed.
Tinubu made the remark through former Olusegun Osoba during the launch of the book The NADECO Story written by Ayo Opadokun in Lagos on Wednesday.
According to Osoba, the President said individuals who previously profited from fuel subsidy payments and exchange rate manipulation are behind efforts to destabilise the country because they were affected by the removal of subsidy and the unification of the foreign exchange market.
Osoba quoted Tinubu as saying the cabals involved in “round-tripping” and economic manipulation now see him as an obstacle and wish him dead, but that he remains determined to continue restructuring Nigeria’s economy despite the pressure.
The President also reportedly admitted that security concerns are gradually spreading into the South-West, stressing that his administration is currently prioritising the economy and insecurity above every other issue.
Tinubu further claimed that one of the achievements of his forex reforms is the narrowing gap between the official and parallel market exchange rates. According to him, the naira did not collapse to ₦2,000 per dollar as many predicted, noting that the currency has stabilised around ₦1,380 to the dollar.
Osoba also revealed that Tinubu promised to address more political and governance-related reforms if re-elected for a second term, adding that the President remains grateful to members of the National Democratic Coalition for their role in restoring democracy in Nigeria.
The event brought together several prominent figures who played major roles during the struggle against military rule, including Nobel Laureate Wole Soyinka, rights activist Olisa Agbakoba, and former Oyo State governor Rasheed Ladoja.
During the event, Soyinka praised the book for documenting what he described as truthful accounts of the pro-democracy struggle under late military ruler Sani Abacha.
He also shared a dramatic story involving late activist Beko Ransome-Kuti, revealing that Beko once considered assassinating Abacha during the military era but was persuaded to abandon the plan.
Osoba, while reflecting on the NADECO struggle, disclosed that he narrowly escaped assassination attempts during the Abacha regime and revealed that the movement was originally created to restore democracy broadly — not solely to fight for the validation of the June 12 election won by late MKO Abiola.
Several media organisations and pro-democracy figures were honoured during the ceremony for their contributions to the fight against military dictatorship and the eventual return to democratic rule in Nigeria.