LAGOS, Nigeria : Nigeria’s President, Bola Tinubu, stated that oil subsidy and multiple exchange rate cabals wish him dead following the implementation of his administration’s economic reforms, according to an official statement delivered on Wednesday, May 20, 2026.
Okay News reports that former Ogun State Governor Olusegun Osoba delivered the message on behalf of the president during an awards ceremony and the launch of the book, “The NADECO Story,” written by Chief Ayo Opadokun, in Lagos.
According to the statement read by Osoba, Tinubu noted that certain individuals are attempting to disrupt national peace due to the removal of the subsidies and foreign exchange windows. “As for security, he says, I should let you know, that he is aware that there is a deliberate attempt to disrupt the peace of this country by people whom he knew he had offended by canceling multiple exchange rates and by canceling oil subsidies,” Osoba said.
The president maintained that the restructuring of the economy remains a priority despite the personal risks involved. “He said those cabals who are doing round-tripping will wish him dead any time but he is determined that if that is the only thing he would do, he would make sure he rearranges the economy. No matter what, he is determined to face it. So that’s the message from Mr. President,” Osoba said.
Osoba stated that the economic reforms have reduced the gap between the parallel and official currency markets, with the Naira trading at approximately 1,380 Naira ($1.00 USD) to 1 dollar, down from projected figures of 2,000 Naira ($1.45 USD). He added that the government does not intend to let the currency strengthen excessively to prevent disruptions for merchants who acquired goods at rates around 1,500 Naira ($1.09 USD).
The event, which marked 32 years of the National Democratic Coalition, also featured remarks from Nigeria’s Nobel Laureate, Professor Wole Soyinka, who authenticated the historical accounts of the group’s opposition to military dictatorship between 1994 and 1998.
The ceremony concluded with the presentation of awards to several media platforms, including Vanguard Newspapers, The Guardian, Punch, Concord, Tell, The News, and Classique, for their historical reporting during the pro-democracy struggle.
