President Bola Tinubu on Tuesday declared that his administration’s bold economic reforms are beginning to yield positive results, restoring stability to Nigeria’s economy and attracting renewed international attention.
Speaking at the State House while receiving His Imperial Majesty, Oba Ghandi Afolabi Oladunni Olaoye, Orumogege III, the Soun of Ogbomosoland, and other traditional rulers, the President said Nigeria had suffered years of neglect, falsified records, smuggling, and corruption, which drained national revenue and undermined economic integrity.
“Arbitrage trading, fake records, and corruption had severely damaged our economy. We had to take decisive actions. With your prayers, patience, and perseverance, I am glad to tell you today that the economy is stabilised. The bleeding has stopped; the patient is alive,” President Tinubu said.
He explained that the creation of the Nigeria Education Loan Fund (NELFUND) was to ensure that no student abandons their education due to poverty.
“Education is the greatest weapon against poverty. That is what we are investing in. We have also remained aggressive in infrastructure, and this is just two years into the administration,” he added.
The President expressed gratitude to the Soun of Ogbomoso for recognising the tough decisions taken by his government upon assumption of office, assuring that he would direct the Ministers of Power, Water Resources, Agriculture, and Works to act on the monarch’s requests.
The Soun, in his remarks, commended President Tinubu’s reforms, describing fuel subsidy removal and foreign exchange liberalisation as bold but necessary policies. He also praised the establishment of NELFUND, which he said had made it possible for many students to remain in school.
Oba Olaoye highlighted the award of the contract for the long-abandoned dualisation of the Oyo–Ogbomoso Road as a transformative project that will boost economic activity and strengthen Nigeria’s gateway to the North. He, however, urged the President to intervene in improving water and power supply in Ogbomoso, upgrading the town’s General Hospital into a Federal Medical Centre, and establishing a research institute to harness the potential of Ogbomoso’s renowned mangoes and cashew nuts.
The monarch also thanked President Tinubu for appointing prominent Ogbomoso sons into key federal positions, including the FIRS Chairman, Zacch Adedeji, and the Director-General of the Bureau of Public Procurement, Debo Adedokun.
Oba Olaoye was accompanied by other traditional rulers and dignitaries from Ogbomosoland, including High Chief Samuel Otolorin, HRM Oba Oyetunji Adeyeye, HRM Oba Bolarinwa Olajide, HRM Oba Babatunde Amao, HRM Oba Prof. Akinola Akintola, High Chief Ogundare Oluwakemi Rebecca, Prof. Sola Adepoju, Chief Tunji Olaniyi, and Alhaji Abdul Ganiyu Atanda Owodunni.
Also in attendance was Chief Sunday Dare, Special Adviser to the President on Media and Public Communication, who is also the Agbaakin of Ogbomosoland.
