President Bola Ahmed Tinubu on Tuesday, September 2, 2025, reaffirmed that his administration’s economic reforms are yielding positive results, declaring that Nigeria’s economy has been stabilised after years of decline.
Speaking at the State House while receiving the Soun of Ogbomosoland, His Imperial Majesty, Oba Ghandi Afolabi Oladunni Olaoye, Orumogege III, and other traditional rulers, the President said his bold policy decisions have stopped the country’s “economic haemorrhage” and restored confidence both locally and internationally.
“Years of neglect and self-deception, fake records, smuggling, arbitrage trading of currency, corruption, and loss of integrity left our economy badly damaged. 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” Tinubu said.
Highlighting some of his administration’s initiatives, the President noted that the Nigerian Education Loan Fund (NELFUND) was established to ensure no student abandons their education due to financial hardship.
He described education as “the greatest weapon against poverty” and promised continued investment in infrastructure and human capital.
Tinubu assured the monarch that his administration would engage the Ministers of Power, Water Resources, Agriculture, and Works to look into Ogbomoso’s development needs. According to him, Nigeria has the capacity to achieve food self-sufficiency if agriculture is prioritised.
The Soun of Ogbomosoland commended the President for his “incredible strides,” especially the removal of fuel subsidy, foreign exchange reforms, and creation of NELFUND, which he said had already positively impacted Nigerians.
Oba Olaoye also lauded the Federal Government for awarding the contract for the dualisation of the Oyo–Ogbomoso Road, describing it as a gateway to the North that will stimulate economic activities.
He, however, appealed for the upgrade of the Ogbomoso General Hospital to a Federal Medical Centre, improved power and water supply, and the establishment of a research institute to process the town’s famed mangoes and cashew nuts into viable agricultural enterprises.
The monarch expressed appreciation for the appointment of Ogbomoso indigenes such as Dr. Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service, and Mr. Debo Adedokun, Director-General of the Bureau of Public Procurement, into key national positions.
Oba Olaoye was accompanied by five other traditional rulers representing the councils of Ogbomoso, as well as prominent indigenes, including High Chief Ogundare Oluwakemi Rebecca, Iyalode of Ogbomoso; Prof. Sola Adepoju, former DG of the Forestry Research Institute of Nigeria; businessman Chief Tunji Olaniyi; and Alhaji Abdul Ganiyu Atanda Owodunni, the Aare Musulumi of Ogbomosoland.
Also in attendance was the President’s Special Adviser on Media and Public Communication, Chief Sunday Dare, who doubles as the Agbaakin of Ogbomosoland.
