President Bola Tinubu has alleged that powerful interests benefiting from oil subsidy and multiple exchange rates are plotting against him over the economic reforms introduced by his administration since 2023.
Tinubu’s position was conveyed on Wednesday by former Ogun State governor, Olusegun Osoba, during the launch of The NADECO Story, a book written by Ayo Opadokun, at an event marking 32 years of the National Democratic Coalition (NADECO) in Lagos.
According to Osoba, the President said individuals profiting from fuel subsidy and foreign exchange round-tripping were unhappy with his reforms and were fueling instability in the country.
“He said those cabals doing round-tripping would wish him dead any time, but he is determined to rearrange the economy no matter the pressure,” Osoba stated.
Tinubu also reportedly assured Nigerians that his administration would deliver better results if re-elected for a second term, noting that his current focus remains the economy and national security.
Osoba said the President acknowledged NADECO’s role in restoring democracy, adding that he would not have become president without the sacrifices of pro-democracy activists.
Speaking further, Osoba said Tinubu pointed to improvements in the foreign exchange market, noting that the gap between the official and parallel market exchange rates had narrowed significantly.
The event brought together prominent pro-democracy figures including Wole Soyinka, Rasheed Ladoja, Olisa Agbakoba, and veteran journalist Sam Amuka.
During the event, Soyinka praised the documentation of NADECO’s history and recalled how some activists risked their lives during the struggle against military rule under late General Sani Abacha.
Osoba also recounted alleged assassination attempts against him during the military era, saying members of the regime targeted several NADECO leaders for elimination.
Media organisations including Vanguard Newspapers, The Guardian, Punch Newspapers and Tell Magazine were honoured for their roles in the pro-democracy struggle.