President Bola Tinubu’s administration has embarked on a series of bold economic reforms aimed at revitalizing Nigeria’s economy and restoring its global standing. These reforms, according to the President, are yielding positive results, stabilizing the economy, and attracting significant international interest. Tinubu, using a medical analogy, described the previous state of the economy as hemorrhaging, a condition he asserts has now been stopped, signaling a revival of the nation’s financial health. This declaration of economic stability came during a meeting with the Soun of Ogbomosoland, Oba Ghandi Olaoye, and other traditional rulers at the Presidential Villa in Abuja.
The President attributed Nigeria’s past economic woes to years of neglect, fraudulent practices, smuggling, and currency arbitrage, which deprived the nation of crucial revenue for development. He emphasized the pervasive corruption that challenged the integrity of the country and its economy. To address these issues, Tinubu’s administration implemented decisive measures, which, coupled with the understanding and patience of the Nigerian people, have contributed to the current stability. The President highlighted the establishment of the NELFUND, a student loan program, as a key initiative ensuring that no student is forced to abandon their education due to financial constraints, reinforcing his belief in education as the most potent weapon against poverty.
Beyond economic reforms, President Tinubu underscored his administration’s aggressive pursuit of infrastructure development, emphasizing the considerable progress made in just two years. He expressed gratitude to the Soun of Ogbomosoland for acknowledging the bold decisions taken upon his assumption of office, particularly the removal of fuel subsidies, a move the monarch described as the right decision with visible positive effects. The Soun also lauded the administration’s foreign exchange reforms and the introduction of the NELFUND, which has alleviated the financial burden on students.
The Soun of Ogbomosoland, Oba Ghandi Olaoye, commended President Tinubu for his remarkable achievements, attributing them to bold leadership. He specifically highlighted the positive impact of the fuel subsidy removal, foreign exchange reforms, and the NELFUND initiative in mitigating the risk of student dropouts. The monarch also expressed appreciation for the contract awarded for the dualization of the Oyo-Ogbomosho Road, a project abandoned for decades, recognizing its potential to stimulate economic activity as a crucial gateway to the North.
While acknowledging the administration’s strides, Oba Olaoye requested the President’s intervention in addressing the challenges of water and power supply in Ogbomoso. He further appealed for the upgrade of the General Hospital in Ogbomoso to a Federal Medical Centre and the establishment of a research institute to harness the agricultural potential of Ogbomoso’s renowned mangoes and cashew nuts, transforming them into a thriving agricultural enterprise. The monarch concluded by expressing gratitude for the appointment of prominent sons of Ogbomoso to key positions within the administration.
The meeting with the Soun of Ogbomosoland and other traditional rulers provided a platform for President Tinubu to articulate his administration’s economic agenda and its positive outcomes, emphasizing the stabilization of the economy and the pursuit of infrastructure development. The interaction also allowed for direct engagement with local concerns and the articulation of specific needs, reflecting a commitment to addressing regional challenges and harnessing local potential for national development. The presence of other traditional leaders and prominent figures from Ogbomosoland underscores the significance of the meeting and the importance of collaboration between the federal government and traditional institutions in driving national progress.
