Pastor E.A. Adeboye, the General Overseer of the Redeemed Christian Church of God (RCCG), has attributed the naira’s survival against extreme devaluation to divine intervention.
He claimed that without God’s help, Nigeria’s currency could have reached an exchange rate of ₦10,000 per dollar.
Speaking during the Special Holy Ghost Congress in Abuja, Adeboye addressed the country’s dire economic challenges.
He pointed to the continued reliance on imported fuel as a major factor crippling Nigeria’s economy.
“Despite being an oil-producing nation, we import petrol and waste billions of naira on refineries that don’t work effectively,” Adeboye lamented.
“The Burden of Fuel Imports”
The cleric expressed his frustration with the country’s inability to leverage its vast oil wealth for economic stability.
He noted that billions of naira have been invested in revamping the country’s refineries, yet the facilities remain largely non-functional.
This inefficiency has forced Nigeria to depend on fuel imports, draining the country’s foreign reserves and putting immense pressure on the naira.
Adeboye also weighed in on the government’s controversial decision to remove fuel subsidies earlier this year.
“When the president cancelled the subsidy on petrol imports, those who benefited from it became upset and created more problems,” he said.
While the removal was intended to ease financial strain on the government, it has sparked widespread discontent among citizens.
Many Nigerians have struggled with skyrocketing fuel prices and the ripple effect on transportation, food costs, and daily living expenses.
“The Role of Prayer in Economic Stability”
As the naira’s value continued to slide earlier this year, Pastor Adeboye revealed that he turned to prayer to seek divine intervention.
He called on others to join him in praying for Nigeria’s economic recovery.
“If God hadn’t intervened, $1 could have been worth N10,000 by now,” he said, emphasizing the critical role of spiritual guidance.
“We need help, and it’s not human help; it’s divine help,” he added.
Adeboye’s message highlighted the importance of faith in navigating the nation’s economic difficulties.
“The Economic Crisis and the Need for Change”
The cleric’s remarks come at a time when Nigeria is grappling with significant financial challenges.
The removal of fuel subsidies, combined with inflation and the depreciation of the naira, has left many Nigerians feeling the pinch.
While the government has introduced policies aimed at economic reform, critics argue that these measures have not provided immediate relief for the masses.
Adeboye’s call for divine intervention reflects the sentiments of many Nigerians who feel that the country’s problems require more than just human solutions.
“A Persistent Economic Dilemma”
Nigeria’s over-reliance on oil exports and fuel imports has been a long-standing issue.
Despite being one of Africa’s largest oil producers, the country’s inability to refine its own petroleum products continues to hinder economic progress.
In 2023, the government announced plans to revitalize refineries and promote local production of petroleum products.
However, implementation has been slow, leaving Nigeria vulnerable to external economic shocks.
Adeboye’s message served as a reminder of the pressing need for both spiritual and practical solutions to the nation’s economic woes.
“Faith and the Future”
The RCCG leader concluded his speech by urging Nigerians to remain hopeful and steadfast in prayer.
He expressed optimism that with God’s help, the country could overcome its current challenges and achieve lasting economic stability.
“The situation may be tough now, but I believe we can come out stronger if we seek divine guidance,” Adeboye said.
