𝗢𝗶𝗹 𝗦𝘂𝗯𝘀𝗶𝗱𝘆, 𝗘𝘅𝗰𝗵𝗮𝗻𝗴𝗲 𝗥𝗮𝘁𝗲 𝗖𝗮𝗯𝗮𝗹𝘀 𝗪𝗮𝗻𝘁 𝗠𝗲 𝗗𝗲𝗮𝗱 — 𝗧𝗶𝗻𝘂𝗯𝘂

President Bola Ahmed Tinubu has claimed that powerful interests benefiting from fuel subsidy and foreign exchange practices are unhappy with his administration’s economic reforms and would prefer him removed from power.
Speaking during activities marking the 32nd anniversary of the National Democratic Coalition (NADECO), Tinubu said entrenched subsidy and exchange rate “cabals” resisted reforms because they profited from the old system.
According to the President, difficult decisions taken by his administration were necessary to stabilise Nigeria’s economy and prevent long-term financial collapse.
Tinubu stated that ending fuel subsidy and reforming the foreign exchange market disrupted networks that previously benefited from government policies and loopholes.
The President also suggested that opposition to his reforms has intensified because certain groups lost access to massive financial gains tied to subsidy payments and exchange rate manipulation.
His remarks have generated widespread political and economic reactions, with supporters praising the reforms as necessary steps toward economic recovery, while critics continue to question their impact on ordinary Nigerians facing rising living costs.
Economic analysts say subsidy removal and FX reforms remain among the most controversial policies introduced by the administration due to their direct effect on inflation, transportation costs and household expenses.
Tinubu further reaffirmed his commitment to continuing the reforms despite resistance and political pressure from affected interests.
The NADECO anniversary event also featured discussions about democracy, governance and Nigeria’s political history, particularly the role played by pro-democracy activists during military rule.