Our Reporter, Abuja
President Bola Tinubu on Tuesday declared that his administration’s bold economic reforms over the past two years have begun yielding results, stabilising the economy and restoring Nigeria’s respect on the global stage.
According to a statement on Wednesday issued by Bayo Onanuga, Special Adviser to the President on Information & Strategy, Tinubu made the remarks at the State House while receiving the Soun of Ogbomosoland, His Imperial Majesty, Oba Ghandi Afolabi Oladunni Olaoye, Orumogege III, alongside other royal fathers.
“Years of neglect and self-deception, fake records, smuggling, and arbitrage trading of currency denied Nigeria the necessary revenue for progress and development,” Tinubu said.
“We had to take bold actions. With your prayers, patience, perseverance, and great understanding, I’m glad to tell you today that the economy is stabilised. The bleeding has stopped. Haemorrhage is gone; the patient is alive.”
He highlighted his administration’s creation of the Nigeria Education Loan Fund (NELFUND), which ensures that no student drops out of school due to poverty. According to him, education remains the “greatest weapon” against poverty.
On infrastructure, the President maintained that his government had made aggressive investments within just two years, noting that more transformation efforts were underway.
Tinubu also assured the monarch that his requests on agriculture, power, water, and road development would receive attention from relevant ministries. He stressed that with proper planning, Nigeria could achieve agricultural self-sufficiency.
In his remarks, Oba Olaoye commended the President’s courage in implementing difficult reforms, including fuel subsidy removal and foreign exchange unification, which he said were beginning to show positive effects.
The monarch praised the administration for reviving the dualisation of the Oyo-Ogbomoso Road project, abandoned for decades, describing it as a major gateway to northern Nigeria and a boost to economic activities. He, however, urged government intervention in water and power supply in Ogbomoso, upgrading of the General Hospital to a Federal Medical Centre, and establishment of a research institute to commercialise the town’s famed mango and cashew produce.
Oba Olaoye also thanked the President for appointing Ogbomoso indigenes into key federal positions, including Zacch Adedeji as Chairman of the Federal Inland Revenue Service and Debo Adedokun as Director-General of the Bureau of Public Procurement.
On the monarch’s entourage were five other traditional rulers representing the five councils of Ogbomosoland, as well as notable chiefs and community leaders. Chief Sunday Dare, Special Adviser to the President on Media and Public Communication and Agbaakin of Ogbomosoland, was also present.
