President Bola Ahmed Tinubu has attributed the recent surge in insecurity across the country to interests benefiting from the former fuel subsidy regime and the foreign exchange system, describing them as entrenched economic “cabals” resisting reforms.

The President made the remarks on Wednesday at the launch of the book The NADECO Story in Lagos, where he was represented by former Ogun State Governor, Chief Olusegun Osoba. He said the removal of fuel subsidy and ongoing reforms in the foreign exchange market have disrupted long-standing vested interests.

According to him, these groups are allegedly unsettled by the policy changes and are seeking ways to destabilise the country, including through the worsening security situation. He maintained that the administration remains committed to sustaining reforms aimed at stabilising the economy and improving national security.