President Bola Ahmed Tinubu has alleged that individuals and groups who profited immensely from Nigeria’s controversial fuel subsidy regime and the foreign exchange system are responsible for fueling insecurity and economic sabotage across the country.
The President made this known on Wednesday through former Ogun Governor, Olusegun Osoba at the public presentation of a book titled The NADECO Story, held in Lagos. Tinubu said the current administration’s bold economic reforms, particularly the removal of fuel subsidy and the unification of the foreign exchange market, have disrupted entrenched interests that had fed fat on systemic corruption for decades.
According to the President, those who benefited from the old order are now resisting change and sponsoring acts capable of destabilising the country, including heightened insecurity and coordinated misinformation aimed at discrediting his administration. He maintained that the reforms, though painful, were necessary to rescue Nigeria’s economy from collapse and lay the foundation for long-term prosperity.
Tinubu noted that while Nigerians are enduring temporary hardship, his government remains committed to ensuring that the sacrifices yield sustainable benefits. He emphasized that his administration would not bow to pressure from those seeking to preserve corrupt structures, insisting that accountability, transparency, and national development must take precedence over personal interests.
Reflecting on the legacy of the National Democratic Coalition, Tinubu praised pro-democracy activists for their sacrifices in restoring democratic governance in Nigeria. He urged Nigerians to remain steadfast in defending democracy and supporting ongoing reforms, assuring citizens that the country would emerge stronger despite current economic and security challenges.
