• Pastor Enoch Adeboye, General Overseer of the Redeemed Christian Church of God, warns that without divine intervention, the exchange rate could have risen to ₦10,000 to $1.

• Adeboye attributed Nigeria’s financial difficulties to its overreliance on fuel imports, despite being a major oil-producing nation, during the Special Holy Ghost Congress in Abuja.

• He criticized the billions of naira invested in non-operational refineries, resulting in the country’s dependence on imported fuel.

The General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, has asserted that, in the absence of divine intervention, the exchange rate could have escalated to ₦10,000 per dollar.

During his address at the Special Holy Ghost Congress in Abuja, Adeboye linked Nigeria’s economic difficulties to its excessive reliance on fuel imports, despite the nation being a significant oil producer.

He criticized the substantial investments made in refineries that remain inactive, which has resulted in the country depending on imported fuel.

Regarding the elimination of fuel subsidies, Adeboye remarked that this decision has incited anger among those who previously profited from the system, exacerbating Nigeria’s economic challenges.

“We need help, and it’s not human help; it’s divine help,” he stressed.

Adeboye pointed out that the origins of Nigeria’s financial troubles extend beyond the current administration, highlighting the continued importation of petrol despite the country’s rich oil reserves.

“Before our current President took office, we were aware that the root of our financial issues lay in the importation of petrol. Despite having oil, we continued to import petrol and waste billions on refineries that did not operate effectively.

“When the President cancelled the subsidy on petrol imports, those who benefited from it became upset and created more problems,” he added.

Reflecting on the swift devaluation of the naira, Adeboye mentioned his reliance on prayer and expressed appreciation for those who joined him in this endeavor.

“If God hadn’t intervened, $1 could have been worth ₦10,000 by now. This illustrates how much we need prayers,” he said.