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Naira redesign crisis nearly made me quit presidential race – Tinubu - BUSINESSDAY
President Bola Tinubu has revealed that the cash scarcity resulting from the naira redesign policy nearly compelled him to abandon his 2023 presidential bid.
Speaking during a special Iftar at the Presidential Villa in Abuja on Saturday, Tinubu recounted how doubts crept in during his campaign after a conversation with a close relative.
“Those close to me know that the odds were against me. During the campaigns, one of them came to my living room around 3:30 am and said he needed just N50,000 to buy foodstuff for our uncle,” the president said.
“He told me, ‘The currency is gone because of you. People are jumping over bank counters because there is no cash. Our uncle, a wealthy man, doesn’t even have N10,000 in cash. What are you running for?’”
Tinubu continued, “I told him, ‘I am running for President, not for you and our uncle.’ I gave him the N50,000. As he walked out, he turned to me and said, ‘I don’t think you will make it.’ I replied, ‘I will make it.’”
The president also shared how his uncle later informed him that he only received N10,000 out of the amount given.
“At that moment, I almost dropped the idea of running for president. But thanks to Aminu Masari and all of you who encouraged me. When I came to Abuja, Masari told me, ‘I am the chairman of the north-west group; don’t look back,’” Tinubu said.
Reflecting on his presidency, Tinubu acknowledged that he assumed office amid economic challenges and made critical decisions, including the removal of the fuel subsidy on his inauguration day.
“The hallmark of a great leader is the ability to make the right decision at the right time. That was the day I declared that the subsidy was gone,” he said.
The president admitted that he faced severe backlash from the media following the announcement but remained resolute, confident that it was the right move for the nation’s future.
