President Bola Tinubu has said his administration’s economic reforms have stabilised Nigeria’s economy within two years.
President Tinubu made this known on Tuesday at the State House when he received the Soun of Ogbomosoland, Oba Afolabi Olaoye, Orumogege III and other traditional rulers from Ogbomoso.
The President said, “Years of neglect and self-deception, fake records, smuggling, and all of that 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.”
He explained that the establishment of the Nigeria Education Loan Fund (NELFUND) was to prevent students from dropping out of school because of poverty.
According to him, education remains the greatest tool against poverty.
Tinubu promised to engage the ministers of power, water resources, agriculture and works to address the monarch’s requests and stated that Nigeria could attain self-sufficiency in agriculture.
The Soun commended the President for reforms, including the removal of fuel subsidy, foreign exchange adjustments and the creation of NELFUND, which he said had enabled students to remain in school.
He also thanked Tinubu for the dualisation of the Oyo-Ogbomoso Road and requested federal intervention in power, water, healthcare and research institutes to develop Ogbomoso’s mango and cashew production.
Oba Olaoye expressed appreciation for the appointments of Zacch Adedeji as chairman of the federal inland revenue service and Debo Adedokun as director general of the bureau of public procurement.
The monarch was accompanied by other kings representing Ogbomoso’s five councils, Samuel Otolorin, Oba Oyetunji Adeyeye, Oba Bolarinwa Olajide, Oba Babatunde Amao and Oba Akinola Akintola.
Others on the entourage included Ogundare Rebecca, Sola Adepoju, Tunji Olaniyi and Abdul Ganiyu Owodunni.
Special adviser to the president on media and public communication Sunday Dare, was also present.
