The General Overseer, GO, of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, has stated that relative stabilization of the Naira is as a result of prayers. This is even as he said that without the prayers, the Naira could have plunged to ₦10,000 to $1.
The GO made this disclosure while speaking at the Special Holy Ghost Congress in Abuja. He noted that, through his prayers and those of his followers, the Naira’s free fall had been averted.
Recall that the Naira currently exchange at N1, 730 against the Dollar in the forex market.
Speaking at the event, Adeboye reflected on the challenges Nigeria faced before President Bola Tinubu’s administration. He bemoaned the country’s dependence on imported fuel despite the billions invested in refineries that are not working.
He said, “If we had not prayed, $1 would have been ₦10,000 by now. God stepped in and saved Nigeria”
“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.”
The GO, therefore, stated that the removal of subsidies initially sparked hope for positive change. He regretted that the policy quickly faced backlash from those who were benefiting from the subsidies.
According to him, 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 and the Naira has stabilized,” the GO added.
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