Pastor Enoch Adeboye, General Overseer of the Redeemed Christian Church of God (RCCG), has credited Nigeria’s relatively stable exchange rate to divine intervention, suggesting that the naira could have spiraled to N10,000 to one US dollar without God’s involvement.
Speaking during the Special Holy Ghost Congress in Abuja, Pastor Adeboye explained that the nation was spared from a complete currency collapse through fervent prayers offered by him and his congregation.
Currently, the exchange rate is pegged at approximately N1,730 to the dollar.
Reflecting on the economic difficulties preceding President Bola Tinubu’s tenure, Adeboye highlighted the contradiction of Nigeria importing fuel despite significant investments in its refineries.
“If we had not prayed, $1 would have been N10,000 by now. God stepped in and saved Nigeria,” Adeboye said.
He continued, “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.”
Adeboye also touched on the initial optimism surrounding the removal of fuel subsidies, which he said faced resistance from those profiting from the system.
“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,” he added.
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