Home Church Anniversary & Convention RCC&T decries unending naira depreciation as very hard to swallow  

RCC&T decries unending naira depreciation as very hard to swallow  

by Dr. Wole Olarinde Editor-in-Chief
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Rhema Christian Church & Tower (RCC &T) World Convention 2023 kicks off  9a.m on Sunday, November 5, 2023 with an anniversary lecture at its headquarters, Sango Ota, Ogun state, as the church urges Nigerians to desist from careless talks about the country and also end all the battles of the 2023 presidential election.

Addressing a world press conference on the state of the nation, ahead of the convention, the general overseer of the church, Bishop Dr. Taiwo Akinola, spoke on Nigeria’s economy, particularly on the devaluation of her currency, which he said has further taken the worst turn.

In a copy of his speech at the press meeting posted to Christian Benefits,  Akinola recalls: “Gentlemen of the Press, when you came here last year, the first national challenge we highlighted was the disheartening state of our currency. Now, to say that this has further taken the worst turn would certainly be an understatement.

“Last year we lamented that the dollar to naira exchange rate was bad. About six years ago, a dollar exchanged for N160, but today, it is over N1,000 to a dollar while pound exchanges for over N1,500. This is quite saddening, especially because of its attendant effects on our national socio-economic engineering,” he remarks.

The bishop admitted Nigeria is presently facing its worst economic crisis in years, which he said some schools of thought believe is largely due to the significant devaluation of the Nigerian naira, coupled with some huge foreign debts that have been hanging on the nation’s economic neck for some years now.

“Meanwhile, some economists think that such devaluation is badly needed to harmonize the naira’s real value and help our attempt at improving exportation, but the social impact of this on the generality of the citizens is very hard to swallow,” he said.

The cleric further said that the central Bank of Nigeria (CBN)’s ease of the foreign exchange by mid-June, as part of the economic reforms of President Bola Ahmed Tinubu, prompting the official rate to plunge more than 40% over the past four months, has made the naira to suffer a massive devaluation.

He also lamented the challenges facing Nigeria’s main source of Forex earnings and the accruable revenue from crude oil by oil theft, which he said is affecting the nation’s ability to meet her OPEC quota, and also shortening her ability to earn Forex.

The RCC&T Presiding Bishop also cited the opinions of some experts that Nigeria’s propensity for import at the detriment of local production as another reason for the nation’s dwindling Forex earnings. While dismissing Nigeria’s importation of a lot of things, including fuel and toothpicks, which he said continually puts pressure on the Forex, Akinola advised the nation to top up her local production.

He also notes:”It is equally opined that our “Bonny light” is not doing well enough in the international market, and we have very little window to manoeuvre because the naira and our productivity do not align. This is especially true as the crude oil market is on the downward trend, until a recent spike occasioned by the Israel-Hamas crisis,” adding that “at the backdrop of this dismal picture is the fact that the average Nigerian is bearing the brunt, being increasingly pauperized and thrown into unprecedented hardship. Thus, our nation presently faces cost of living crisis as a result of high inflation, high cost of food items, transportation as well as high cost of goods and services.

“As a nation-church, in Rhema Christian Church, we decry the unending depreciation of the naira, which presently is having adverse effect on our local manufacturers, and we call on the government to take an urgent look at how to provide succour to Nigerians across social stratum.

“For example, the 10 billion dollar lifeline being proposed by the Federal government should be judiciously deployed for quick and sustainable relief outcomes. While the Federal Government has expressed its good intentions in revamping the economy, we urge them to be more people oriented in its choice and timing of economic strategies.

“For instance, the unification of the exchange rates as done by President Bola Ahmed Tinubu should not have been a one step process. Rather, it should have been implemented over a period of time in phases to minimize the harsh socio-economic consequences on the people.”  the cleric advises.

On Rhema World Convention 2023 holding November 5-12, 2023 at the church international headquarters, Sango Ota, Ogun state, Bishop Akinola appreciated God for His mercies, grace, faithfulness and glorious support for the church in these past years.

He said with this year’s world convention, the church is truly celebrating again the abiding Presence of God, His glory and His faithfulness.

“In line with the glorious vision given to us by our Lord Jesus Christ, we are still marching forward with God’s agenda for raising a multitude of people for Christ all over the world, who have been foreordained to be partakers of His grace and glory, by the help of the Holy Spirit. The mandate from the Lord was very clear to us: Raise with me a glorious assembly of Jesus’ people; a people of My power, purity, and purpose, and in this place will I give peace”.

“Based on this mandate, we have, over the years, received immeasurable grace to forge ahead to impact mankind in various ways, through teaching and preaching of God’s undiluted Word and, in the operations of the Holy Ghost in our network of Churches. For Champions worldwide, as we heed His glorious invitation, this year’s Convention is going to bring us to a new level of intimacy with our God. Indeed, the dawn of refreshing and revival is here.” Akinola assures.

Speaking on the theme of this year’s convention  Looking Unto Jesus”,   the bishop expressed believe that God is going to use the convention to bring dramatic solutions to all life’s challenges, and usher in a fresh power of divine intervention in all areas of reproach in the national life.  “We expect a large turnout from all over the world; both Champions as well as our friends and family members, flocking around the Word and camping around the power of Holy Spirit at the Church Headquarters, Lagos-Abeokuta, Expressway, Temidire, Sango Ota, Ogun State. The dates are 5th to 12th, November 2023,” the RCC& T  Pastor General discloses

The guest speakers at this year’s Rhema World Conventions 2023 include: Rev. Dr. Kunle Adesina, Rev. Kayode Kolawole, Bishop Victor Akilla, Bishop Biodun Akinteye, Bishop Peter Adio Obanijesu from South Africa, Bishop Israel Alaya, Bishop Michael Adewusi, and a host of other apostolic properties It will also feature the following champion (RCC&T) ministers: Pastor Sina Olufade, Pastor Femi Gbenjo, Pastor Rotimi Somuyiwa and Pastor Tofunmi Opaleye. “Ayan Jesu”, a notable gospel musical group on the list to minister at the opening event.

The convention will commence 9a.m, on Sunday, November 5th 2023 with the Anniversary Lecture at the Church headquarters and, thereafter, the Great Opening Ceremony will take place by 5:00pm the same day. We have “Ayan Jesu”, a notable gospel musical group on the list to minister at the opening event.  From Monday 6th to Friday 10th November, we shall be having Morning Prayer Rain (6am), Encounter Miracle Service (10am), Ministers’ Conference (12noon) and Evening Word Feast / Miracle Rally (5:00pm).

“As usual, on Friday night, 10th November, from 8pm, we would hold our Annual Hosanna Night- an explosive night of High Praise, Power, Worship and Wonders. No one wishes to miss that! We have the celebrated gospel artiste Adeyinka Alaseyori on our list as well as our home grown anointed gospel music talents.  The convention grand finale, with annual family thanksgiving, communion, ordination and commissioning service will hold at 9am on Sunday, 12th November 2023, all at the same venue.

“Model Camping facilities with free meals will be available for all registered participants from the beginning to the close of the convention. “We are using this opportunity to extend our invitation to all and sundry, with the assurance that the Lord will meet everyone at the points of their various needs, in Jesus name. In this specialized convention of divine illumination, whatever miracle anyone desires is possible by the power of our God,” Akinola finally assures.







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