Friday, November 15, 2024 -The General Overseer of the Redeemed Christian Church of God (RCCG), Pastor E.A. Adeboye, has said that without divine intervention, the exchange rate could have risen to N10,000 per $1.
Adeboye, who stated this while speaking at the Special Holy Ghost
Congress in Abuja, explained that Nigeria’s financial difficulties are largely
linked to its reliance on fuel imports, despite the country having significant
oil resources.
He noted that billions have been spent on refineries, many of which
remain non-functional, resulting in a continued dependence on imported petrol.
Adeboye also addressed the controversy surrounding the government’s
decision to eliminate costly fuel subsidies, a move that angered those who
profited from the previous system and contributed to further economic
challenges.
"We need help, and it’s not human help; it’s divine help,” he
stated.
"Before our current president took office, we were aware that the
root of our financial issues lay in the importation of petrol. Despite having
oil, we continued to import petrol and waste billions on refineries that did
not operate effectively.
“When the president cancelled the subsidy on petrol imports, those who
benefited from it became upset and created more problems.”
As the naira continued to decline rapidly, Adeboye said that he prayed
and was grateful that others joined him in prayer.
“If God hadn’t intervened, $1 could have been worth N10,000 by now. This
illustrates how much we need prayers,” he added.
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