Pastor E.A. Adeboye, the General Overseer of the Redeemed Christian Church of God (RCCG), shared insights on how only divine intervention prevented a further decline of the Naira's value against the US dollar. Speaking at the Special Holy Ghost Congress in Abuja, Pastor Adeboye highlighted that without God’s help, the Naira could have spiraled to a rate of N10,000 per dollar.
In his address, Pastor Adeboye pointed out that Nigeria’s financial crisis is closely connected to its dependence on imported fuel, despite its vast oil resources. He expressed frustration that despite billions of Naira being poured into refineries over the years, these facilities have remained nonfunctional, leaving the country reliant on foreign fuel supplies.
Pastor Adeboye further explained that when the current president took steps to end the costly import subsidies, it disrupted the financial gains of certain influential individuals who were profiting from the import system. According to him, these individuals responded by creating further economic challenges for the country.
Pastor Adeboye on God’s intervention against the Dollar/Naira exchange rate surge
In his own words, Pastor Adeboye said, “When you are going to quote me, please quote me accurately. We need help. And it is not human help, it is divine help. I will give you one or two reasons why. Because if you want restoration, you must first of all admit something is missing.
“Before our president came in, everybody knew that the reason we were having financial problems (we have been having it o, before he came in) is the fact that a lot of money was being spent to import petrol.”
He continued, “Ah! 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.”
Pastor Adeboye highlighted that, upon assuming office, the president quickly took action by canceling the subsidies that allowed for extensive fuel imports, a move that initially inspired hope. However, he remarked that those who were profiting from the previous import system were displeased and retaliated by creating financial issues to destabilize the economy.
He elaborated, “Then all of a sudden, the Naira began to devalue rapidly. I urged my people to pray, and thankfully, many 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, showing us that we need prayers.”
Pastor Adeboye emphasized that his message was not political, stating, “This has nothing to do with politics. I’m not a politician and I will never be one. That’s not my calling.”
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