I Nearly Withdrew From Presidential Race Over Naira Scarcity – Tinubu
President Bola Tinubu revealed that the cash shortage resulting from the naira redesign policy nearly compelled him to withdraw from the 2023 presidential election.
He expressed his uncertainties during the campaign, particularly after a conversation with a close family member.
Tinubu made these remarks on Saturday during a special Iftar event at the presidential villa in Abuja.
“Those who are close to me are aware that the challenges were significant. During the campaign, one relative visited my home around 3:30 AM, requesting N50,000 to purchase food for our uncle,” the president recounted.
“He said, ‘The currency is gone because of you. People are climbing over bank counters due to the lack of cash. Our uncle, who is affluent, doesn’t even have N10,000 in cash. What are you even running for?’”
“I responded, ‘I am running for President, not just for you and our uncle.’ I provided him with the N50,000. As he left, he remarked, ‘I don’t believe you will succeed.’ I replied, ‘I will succeed.’”
The president later learned from his uncle that he received only N10,000 of the cash.
“I was taken aback. At that moment, I nearly abandoned my presidential ambitions. However, I am grateful to Aminu Masari and all those who supported me. When I arrived in Abuja, Masari told me, ‘I am the chairman of the north-west group; do not look back,’” he stated.
Tinubu noted that he took office during a period of economic instability and had to make difficult decisions, particularly regarding the removal of the fuel subsidy.
“On the day of my inauguration, I had to make a decision that was not part of my original speech, which was to eliminate the fuel subsidy,” he explained.
“The mark of a great leader is the capacity to make the right decision at the right moment. That was the day I announced the end of the subsidy.
“The next day, I faced intense criticism and backlash in the media. Nevertheless, I remained resolute, understanding that it was the correct course of action for the future of our nation.”
