President Bola Ahmed Tinubu has declared that some powerful interests benefiting from Nigeria’s old economic structure are furious with his administration and would rather see him fail — or worse — than watch his reforms succeed.
The President made the explosive revelation through former Ogun State governor, Olusegun Osoba, during the public presentation of The NADECO Story in Lagos on Wednesday.
The event, which celebrated heroes of Nigeria’s democratic struggle, quickly turned into a fiery political moment as Tinubu’s message exposed what he described as deep resistance from entrenched cabals profiting from fuel subsidy payments and foreign exchange manipulation.
“They Want Me Gone” — Tinubu Sends Strong Warning
According to Osoba, Tinubu believes certain individuals who made fortunes from the previous system are actively unhappy because his government disrupted their business empire.
For years, Nigeria’s multiple exchange rates created opportunities for round-tripping, where insiders allegedly bought dollars cheaply from official channels and sold them at inflated black-market rates.
Fuel subsidy payments also became one of the country’s biggest political and economic controversies, with repeated allegations of corruption, inflated claims and massive leakages.
Now, Tinubu says shutting those doors has made him powerful enemies.
Osoba delivered the President’s blunt message to the audience: “Those cabals who benefited from round-tripping and subsidy payments will wish him dead any time, but he is determined to rearrange the economy no matter the pressure.”
The statement immediately sparked reactions among attendees, reinforcing the growing political tension surrounding Nigeria’s painful economic reforms.
A Country Paying The Price For Reform
When Tinubu assumed office in 2023, one of his first major decisions was the removal of petrol subsidy.
The announcement triggered shockwaves across the country.
Fuel prices skyrocketed almost overnight.
Transportation costs surged.
Food inflation worsened.
Millions of Nigerians suddenly found everyday survival more difficult.
Soon after, the government also unified the foreign exchange market, allowing the naira to trade more freely.
Supporters argued that the reforms were long overdue and necessary to rescue Nigeria’s struggling economy.
Critics, however, accused the administration of implementing harsh policies without adequate protection for ordinary citizens.
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For many Nigerians, the reforms became a daily reality felt in empty wallets, rising rents and increasingly expensive basic necessities.
Tinubu Says The Naira Is Stabilising
Despite public frustration, Tinubu insists the policies are beginning to work.
According to Osoba, the President pointed to the narrowing gap between the official exchange rate and the parallel market as evidence that the reforms are stabilising the financial system.
He claimed critics predicted the naira would collapse to ₦2,000 per dollar, but said the currency has remained significantly stronger than those forecasts.
Osoba quoted Tinubu as saying: “The difference between the official and parallel market is now almost gone. The naira they expected to hit ₦2,000 to one dollar is around ₦1,380.”
Interestingly, Tinubu reportedly added that he does not even want the naira to become “too strong” too quickly, arguing that sudden currency appreciation could create confusion for investors and businesses already operating at higher exchange rates.
Security Fears Growing In The South-West
Beyond the economy, the President reportedly expressed serious concern about Nigeria’s worsening security situation.
Osoba revealed that Tinubu is particularly worried about insecurity gradually spreading into the South-West region — an area once widely considered safer than many parts of the country.
The warning comes amid growing fears over kidnappings, violent attacks and criminal activities creeping into communities across the region.
For many observers, the combination of economic hardship and rising insecurity presents perhaps the biggest political test of Tinubu’s presidency so far.
Tinubu Promises Bigger Political Changes In Second Term
In a politically loaded message, Tinubu also hinted that some major political reforms may have to wait until after his re-election bid.
According to Osoba, the President told NADECO veterans that his current focus remains fixed on fixing the economy and addressing insecurity.
However, he reportedly promised to revisit broader political issues during a second term if re-elected.
The comment is already likely to fuel debate among Nigerians questioning whether critical governance reforms should be delayed while citizens continue facing mounting hardship.
Democracy Heroes Gather In Lagos
The Lagos event attracted several respected figures from Nigeria’s political and intellectual circles.
Among those present were Nobel Laureate Wole Soyinka, former Oyo governor and Olubadan of Ibadanland Rashidi Ladoja, legal icon Olisa Agbakoba and veteran actress Joke Silva.
The gathering celebrated the legacy of NADECO, the pro-democracy coalition that fought military rule in the 1990s and helped pave the way for Nigeria’s current democratic system.
What Next?
Tinubu’s remarks have now triggered a larger national conversation:
Is Nigeria finally dismantling a corrupt economic structure that enriched a few at the expense of millions?
Or are ordinary Nigerians simply being forced to suffer while political elites promise future rewards?
For supporters, Tinubu is confronting dangerous interests previous administrations were too afraid to challenge.
For critics, the reforms may sound noble, but the crushing reality of inflation and hardship has left many citizens wondering how much sacrifice is too much.
One thing is certain, Nigeria’s economic battle is no longer just about policies.
It is now a fierce political war between reform, survival and power.