President Bola Tinubu stated that his administration’s bold economic reforms have successfully stabilized Nigeria’s economy, restoring global respect and attracting international investment.
The President made the declaration on Tuesday while receiving His Imperial Majesty, Oba Ghandi Afolabi Oladunni Olaoye, Orumogege III, the Soun of Ogbomosoland, and a delegation of traditional rulers at the State House.
Reflecting on the nation’s recent challenges, President Tinubu outlined the necessity of his government’s actions.
”We were confronted with years of neglect, arbitrage trading, an illusion of selling papers, and corruption that severely challenged the integrity of our economy,” the President stated. “We had to take decisive actions. Today, I am glad to report that with the people’s patience and perseverance, the economy is stabilized. The bleeding has stopped. The patient is alive.”
President Tinubu highlighted several key achievements:
· Economic Stabilization: Curbing practices like smuggling and currency arbitrage that denied the nation vital revenue.
· Educational Support: The establishment of the Nigerian Education Loan Fund (NELFUND) to prevent students from dropping out due to poverty. “Education is the greatest weapon against poverty,” the President affirmed.
· Infrastructure Drive: A continued aggressive focus on infrastructural development within the administration’s first two years.
The Soun of Ogbomoso, Oba Ghandi Olaoye, commended the President’s “incredible strides,” stating that “only a bold leader” could have made such difficult decisions. He specifically praised the removal of the fuel subsidy and foreign exchange reforms as necessary measures now yielding positive effects.
The monarch also expressed gratitude for the recent contract award to dualize the long-abandoned Oyo-Ogbomoso Road, a vital economic gateway to the North.
Looking forward, Oba Olaoye presented several requests for the development of Ogbomosoland, seeking presidential intervention for:
· Improved water and power supply.
· Upgrading the General Hospital to a Federal Medical Centre.
· Establishing a research institute to develop the region’s renowned mango and cashew production into a viable agricultural enterprise.
The Oba also thanked the President for appointing sons of Ogbomoso to key positions, including the Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, and the Director-General of the Bureau of Public Procurement, Debo Adedokun.
In response, President Tinubu promised to direct the relevant ministers of Power, Water Resources, Agriculture, and Works to address the requests, emphasizing the potential for national agricultural self-sufficiency.
The delegation included five other kings from the Ogbomoso region, high chiefs, and prominent community leaders. The meeting was also attended by the Special Adviser to the President on Media and Public Communication, Chief Sunday Dare.
