ABUJA — President Bola Ahmed Tinubu on Tuesday declared that his administration’s sweeping economic reforms have restored Nigeria’s global respect and placed the nation on the path of stability and renewed growth.
Speaking at the State House, Abuja, when he received the Soun of Ogbomosoland, Oba Ghandi Afolabi Olaoye (Orumogege III), alongside other traditional rulers from Ogbomoso, Tinubu likened Nigeria’s economic situation on assumption of office to a patient in critical condition.
“The bleeding has stopped. Haemorrhage is gone; the patient is alive,” the President said, describing the economy as stabilised despite initial difficulties that followed subsidy removal and foreign exchange reforms.
The meeting details were contained in a statement released on Wednesday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, titled “In Just Two Years, Nigeria is Now Respected Globally.”
Reforms and Economic Recovery
Tinubu outlined the challenges he inherited, including fake revenue records, widespread smuggling, arbitrage currency trading, and entrenched corruption, which he said eroded the country’s financial integrity for years.
“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,” he told the delegation.
He highlighted initiatives such as the establishment of the Nigerian Education Loan Fund (NELFUND), which he said would guarantee that no Nigerian student drops out of school due to financial hardship.
“Education is the greatest weapon against poverty. That’s what we are doing. We have remained aggressive on our infrastructure. And it’s just two years,” Tinubu noted.
Royal Endorsement
Oba Ghandi Olaoye, who led the Ogbomoso delegation, commended Tinubu for what he described as courageous leadership, particularly the removal of fuel subsidy and reforms in the foreign exchange sector.
“Only a bold leader could have made such decisions. We can already see the effects,” the monarch said. He further praised the introduction of NELFUND, which, according to him, has given hope to students across the country.
The Soun also lauded the award of the long-delayed dualisation of the Oyo-Ogbomoso Road, calling it a major economic lifeline that would connect the Southwest with the Northern region.
Requests from Ogbomoso
The monarch, however, appealed for more federal intervention, including:
- Upgrading the General Hospital, Ogbomoso into a Federal Medical Centre.
- Establishing a research institute for mangoes and cashew nuts, crops for which Ogbomoso is widely known.
- Improved power and water supply to the town.
He also thanked the President for appointing Ogbomoso indigenes into key positions, such as Zacch Adedeji, Chairman of the Federal Inland Revenue Service (FIRS), and Debo Adedokun, Director-General of the Bureau of Public Procurement (BPP).
Next Steps
President Tinubu assured the delegation that he would direct the Ministers of Power, Water Resources, Agriculture, and Works to address their concerns, noting that agriculture remains central to his government’s drive for self-sufficiency.
On the monarch’s entourage were five other kings representing Ogbomoso’s councils, including Oba Samuel Otolorin (Areago of Ogbomoso), Oba Oyetunji Adeyeye (Alajaawa of Ajaawa), Oba Bolarinwa Olajide (Onisapa of Isapa), Oba Babatunde Amao (Aale Oke-elerin), and Oba Prof. Akinola John Akintola (Olokin-apa of Okin-apa).
Also present were High Chiefs, business leaders, and religious figures from Ogbomoso, as well as Sunday Dare, the President’s Special Adviser on Media and Public Communication, who doubles as the Agbaakin of Ogbomoso land.
