President Bola Tinubu has declared that his government’s bold economic reforms, aimed at restoring Nigeria’s global standing, are already yielding tangible results. According to the President, the country’s economy is now stable and attracting international attention.
He made the remarks at the State House in Abuja while receiving the Soun of Ogbomosoland, His Imperial Majesty, Oba Ghandi Afolabi Oladunni Olaoye, Orumogege III, along with other royal fathers.
Addressing the monarch and guests, President Tinubu said: “Years of neglect and self-deception, fake records, smuggling, and other malpractices denied Nigeria the necessary revenue for progress and development. Then we were confronted again with arbitrage trading of currency, an illusion of selling papers, corruption all over the place, and the integrity of the country and its economy being extremely and adversely challenged.
“We had to take those 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.”
The President highlighted the establishment of the National Education and Learning Fund (NELFUND), which aims to ensure that no student drops out of school due to poverty. “Everybody has a right to education as it is the greatest weapon you can give to human beings against poverty. That’s what we are doing. We have remained aggressive on infrastructure. And it’s just two years,” he said.
Tinubu thanked the Soun of Ogbomoso for recognising his administration’s decisive actions since resuming office, noting that the people of Ogbomosoland are already experiencing the benefits of modernisation and transformation introduced by the monarch.
The President also promised to engage Ministers of Power, Water Resources, Agriculture, and Works to address the monarch’s requests, stating that such initiatives could make Nigeria self-sufficient in agriculture.
Earlier, Oba Olaoye commended President Tinubu for his “incredible strides, which only a bold leader could have recorded.” The monarch praised the removal of the fuel subsidy, stating that its positive effects are already visible. He also applauded foreign exchange reforms and the introduction of NELFUND, which have enabled many students to continue their education without fear of dropping out.
The Soun further commended the President for awarding the contract for the dualisation of the Oyo-Ogbomosho Road—a project abandoned for decades—emphasising its potential to spur economic activity as a key gateway to Northern Nigeria.
Oba Olaoye, however, requested presidential intervention in improving water and power supply in Ogbomoso, upgrading the General Hospital into a Federal Medical Centre, and establishing a research institute to enhance the development of the town’s mango and cashew nut industries into viable agricultural enterprises.
He also expressed gratitude for President Tinubu’s appointments of notable Ogbomosoland sons to key positions, including Zacch Adedeji as Chairman of the Federal Inland Revenue Service and Debo Adedokun as Director General of the Bureau of Public Procurement.
Accompanying the Soun of Ogbomosoland were five other traditional rulers representing the region’s councils: High Chief Samuel Otolorin, Areago of Ogbomosoland; HRM Oba Oyetunji Adeyeye, Alajaawa of Ajaawa; HRM Oba Bolarinwa Ezekiel Olajide, Onisapa of Isapa; HRM Oba Babatunde Amao, Aale Oke-elerin; and HRM Oba Prof. Akinola John Akintola, Olokin-apa of Okin-apa.
Other dignitaries present included High Chief Ogundare Oluwakemi Rebecca, Iyalode of Ogbomosoland; Prof. Sola Adepoju, former DG of the Forestry Research Institute of Nigeria; Chief Tunji Olaniyi, a businessman; and Alhaji Abdul Ganiyu Atanda Owodunni, Aare Musulumi of Ogbomosoland. Also attending was Chief Sunday Dare, Special Adviser to the President on Media and Public Communication and Agbaakin of Ogbomosoland.
Deji Elumoye
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