President Bola Tinubu declared on Tuesday that his administration’s bold economic reforms, which aim to restore Nigeria to its enviable position, are achieving favourable results.
The president said that the country’s economy is now stable and attracting interest from around the world.
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He stated this at the State House when he received His Imperial Majesty, Oba Ghandi Afolabi Oladunni Olaoye, Orumogege III, the Soun of Ogbomosoland, in audience with some other royal fathers.
President Tinubu said, “Years of neglect and self-deception, fake records, smuggling, and all of that denied Nigeria the necessary revenue for progress and development.
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“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.”
The president also said the establishment of NELFUND was to ensure that no student would drop out because of poverty.
He affirmed that 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 our infrastructure. And it’s just two years.”
President Tinubu thanked the Soun of Ogbomoso for crediting his administration with the bold decisions taken immediately upon resumption of office.
He noted that the people of Ogbomosoland were already feeling the modernisation and transformation introduced by the monarch, who promised to strengthen traditional institutions.
The president promised to engage the Ministers of Power, Water Resources, Agriculture, and Works to look into the visiting monarch’s requests, stating they can make Nigeria self-sufficient in agriculture.
The Soun commended the president for his incredible strides, which “only a bold leader could have recorded. Removing fuel subsidy has shown us that it is the right decision, and we can see the effects.”
He said the foreign exchange reforms and introduction of NELFUND have made it easier for many students to continue their schooling without considering dropping out.
He also commended the president for awarding the contract for dualization of the Oyo-Ogbomosho Road, which had been abandoned for decades, pointing out that the road would spur economic activities as a significant gateway to the North.
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The paramount ruler, however, requested the president’s intervention in the water and power supply in Ogbomoso, the upgrading of the General Hospital in the town into a Federal Medical Centre, as well as the establishment of a research institute to enhance the development and transformation of the famous ‘Ogbomoso mangoes and cashew nuts’ into a viable agricultural enterprise.
Oba Olaoye thanked the president for appointing Ogbomoso sons to his administration, notably the Federal Inland Revenue Service Chairman, Zacch Adedeji, and the DG of the Bureau of Public Procurement, Debo Adedokun.
On the entourage of the Soun of Ogbomosoland were five other Kings representing the five councils in Ogbomosoland, namely High Chief Samuel Otolorin, the Areago of Ogbomosoland; HRM, Oba Oyetunji Adeyeye, the Alajaawa of Ajaawa; HRM Oba Bolarinwa Ezekiel Olajide, the Onisapa of Isapa; HRM Oba Babatunde Amao, the Aale Oke-elerin, and HRM Oba Prof. Akinola John Akintola, the Olokin-apa of Okin-apa.
Others were Ogundare Rebecca, Iyalode of Ogbomosoland; Sola Adepoju, former DG Forestry Research Institute of Nigeria; Tunji Olaniyi, a businessman, and AbdulGaniyu Owodunni, the Aare Musulumi of Ogbomosoland.
Also present was the Special Adviser to the President on Media and Public Communication, Sunday Dare, a prominent ‘son of the soil’ who doubles as the Agbaakin of Ogbomosoland.
Bayo Onanuga
Special Adviser to the President
(Information & Strategy)
September 3, 2025
