President Bola Tinubu has linked the beneficiaries of the former fuel subsidy regime and foreign exchange round‑tripping to the rising insecurity in Nigeria. Speaking through former Ogun Governor Olusegun Osoba at a book launch in Lagos, Tinubu said vested interests are deliberately trying to destabilise the country as retaliation for his reforms, including the removal of subsidy and unification of exchange rates. He noted that the naira has improved from about N2,000/toN1,380/toN1,380/, and the gap between parallel and official markets is virtually zero.
Key Points:
Cabals who profited from multiple exchange rates and subsidy payments are resisting the president’s reforms.
The unification of forex rates has dramatically reduced arbitrage opportunities.
A stronger Naira (N1,380/$) eases import costs and inflation pressures.
Tinubu sees security sabotage as a direct consequence of ending corrupt privileges.
He prioritises economic and security stability before addressing political matters
Sources: The Cable, The Nation
