By Majeed Salaam
President Bola Tinubu has said that Nigeria is beginning to reap the benefits of his administration’s bold economic reforms, declaring that the country’s economy is stabilising and regaining international respect just two years into his tenure.
Speaking at the State House, Abuja, while receiving the Soun of Ogbomosoland, His Imperial Majesty Oba Ghandi Afolabi Oladunni Olaoye, Orumogege III, alongside other royal fathers, the President said that years of mismanagement and malpractice had denied Nigeria the revenue needed for meaningful development.
“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,” he stated.
According to him, difficult decisions, including the removal of fuel subsidies and foreign exchange reforms, were unavoidable if Nigeria was to halt its economic decline. “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,” he added.
The President highlighted the establishment of the National Education and Learning Fund (NELFUND) as a key step towards ensuring that no Nigerian student is forced 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.
President Tinubu also commended the people of Ogbomoso for supporting their monarch’s modernisation drive and promised to engage relevant ministers, including those of Power, Water Resources, Agriculture, and Works, to address specific development needs of the region. These include improvements in power supply, water projects, agricultural processing hubs for mango and cashew, and the upgrading of the General Hospital into a Federal Medical Centre.
Earlier, Oba Olaoye commended the President for taking “incredible strides which only a bold leader could have recorded,” citing the removal of fuel subsidy, foreign exchange reforms, and the introduction of NELFUND as policies already showing positive effects. He also thanked the President for awarding the long-awaited dualisation of the Oyo – Ogbomoso Road, describing it as a critical link for trade and travel to Northern Nigeria.
The monarch requested further federal intervention to develop agricultural industries in Ogbomoso, particularly in mango and cashew processing, which he said hold the potential to create jobs and expand exports.
Also accompanying the monarch were five traditional rulers representing the councils of Ogbomosoland: 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.
Prominent indigenes at the meeting included High Chief Ogundare Oluwakemi Rebecca, Iyalode of Ogbomosoland; Prof. Sola Adepoju, former Director General of the Forestry Research Institute of Nigeria; Chief Tunji Olaniyi, a businessman; and Alhaji Abdul Ganiyu Atanda Owodunni, Aare Musulumi of Ogbomosoland. Chief Sunday Dare, Special Adviser to the President on Media and Public Communication, was also in attendance.
