President Bola Tinubu has revealed that certain powerful individuals benefiting from fuel subsidy payments and multiple exchange rates are unhappy with his administration and allegedly want him out of the way.
The President’s message was delivered on Thursday in Lagos during the 32nd anniversary event of the National Democratic Coalition (NADECO), where democracy heroes and activists gathered to reflect on Nigeria’s democratic journey.
Former Ogun State Governor, Olusegun Osoba, who represented Tinubu at the event, said the President believes some entrenched interests are resisting his reforms because they are no longer profiting from the old system.
According to Osoba, Tinubu said the removal of fuel subsidy and the unification of exchange rates disrupted long-standing financial networks that had benefited from loopholes in the economy for years.
“He said those benefiting from round-tripping and subsidy deals are unhappy and would rather see him gone,” Osoba told attendees at the event.
Despite the pressure, Tinubu reportedly insisted he would not back down from his economic policies, saying he remains focused on restructuring the nation’s economy and stabilising Nigeria’s financial system.
The President also admitted that security and the economy remain the biggest challenges facing his administration.
Osoba added that Tinubu believes Nigeria’s foreign exchange market is gradually stabilising, noting that the gap between the official and parallel market exchange rates has reduced significantly compared to previous years.
He also hinted that Nigerians should expect more political and economic reforms if Tinubu secures a second term in office.
“He said many of the political changes people have been demanding will be addressed later, but his current focus is on fixing the economy and improving security,” Osoba stated.
The event also became a moment of reflection for several pro-democracy figures who shared emotional memories from the military era and the dangerous fight to restore civilian rule in Nigeria.
Nobel Laureate, Professor Wole Soyinka, praised the launch of The NADECO Story, a book written by NADECO chieftain, Chief Ayo Opadokun, describing it as an important record of truth and sacrifice.
Soyinka also made a shocking revelation during the gathering, recalling how late human rights activist, Dr Beko Ransome-Kuti, once considered taking drastic action against former military ruler, General Sani Abacha.
According to Soyinka, he personally stopped Beko from carrying out the dangerous plan.
Former Ogun governor, Osoba, also recounted several assassination attempts allegedly targeted at him during the military era, saying many NADECO members risked their lives for Nigeria’s democracy.
Several prominent Nigerians attended the event, including Professor Wole Soyinka, Olisa Agbakoba (SAN), Joke Silva, Senator Rasheed Ladoja, rights activists, journalists and democracy advocates.
Media organisations including Vanguard, Punch, The Guardian, Tell and Concord were also honoured for their role during the struggle against military dictatorship.
The event ended with calls for Nigerians to continue protecting democracy and ensuring that the sacrifices made by past heroes are never forgotten.
Source: from the NADECO@32 event held in Lagos.
