President Bola Ahmed Tinubu has said that powerful interests benefiting from fuel subsidy payments and multiple exchange rate practices are unhappy with his administration’s economic reforms and allegedly “wish him dead” because of the policies introduced since he assumed office in 2023.
The President’s position was disclosed on Wednesday during the 32nd anniversary event of the National Democratic Coalition (NADECO) held in Lagos, where pro-democracy activists and stakeholders gathered to reflect on Nigeria’s democratic journey.
Tinubu, who was represented at the event by former Ogun State governor, Olusegun Osoba, said certain individuals who profited from the old economic system were resisting ongoing reforms, particularly the removal of fuel subsidy and the unification of the foreign exchange market.
According to Osoba, the President believes some of those affected by the reforms are attempting to destabilise the country because they can no longer benefit from practices such as round-tripping and subsidy payments.
Despite the alleged pressure and opposition, Tinubu maintained that his administration would continue pushing ahead with policies aimed at restructuring the Nigerian economy and improving long-term stability.
The President also reportedly assured Nigerians that his government remains focused on addressing the country’s economic and security challenges, while expressing optimism that his reforms would eventually produce positive results.
Speaking at the event, Tinubu acknowledged the role played by National Democratic Coalition members in Nigeria’s struggle for democracy, stating that he would not have attained political leadership without the sacrifices made by pro-democracy activists during the military era.
The occasion featured the presentation of a book titled The NADECO Story, written by NADECO chieftain Ayo Opadokun, alongside awards presented to individuals recognised for their contributions to the fight against military rule in Nigeria.
Several prominent Nigerians attended the event, including Nobel Laureate Wole Soyinka, senior lawyer Olisa Agbakoba, and the Olubadan of Ibadanland, Rasheed Ladoja.
Soyinka, while speaking during the programme, stressed the importance of preserving the true history of Nigeria’s democratic struggle, noting that the sacrifices of those who fought against military dictatorship should never be forgotten.