The Ooni of Ife, Oba Adeyeye Ogunwusi, has commended President Bola Tinubu’s administration, describing the ongoing economic transformation as unprecedented in Nigeria’s history.
The monarch made the remarks on Friday during the official inauguration of the President Bola Ahmed Tinubu Door-to-Door Movement.
Oba Ogunwusi stated that President Tinubu assumed office fully prepared, with the positive impacts of his policies already visible across both the public and private sectors.
“President Bola Tinubu came very prepared, and the result is obvious. From the public governance and the private sector, what is happening in this country, we have never experienced it before,” he said.
The traditional ruler highlighted key economic indicators to support his position. He noted that Nigeria’s capital market has grown significantly, approaching a market capitalisation of over ₦140 trillion a record high.
He also pointed to the country’s foreign reserves, which now stand at nearly $52 billion, sufficient to finance imports for the next three years.
According to the Ooni, the foreign exchange market has become more stable, with reduced disparities that previously enabled arbitrage and rent-seeking.
He expressed optimism that the naira would continue to stabilise, paving the way for increased local production.
The monarch further praised bold reforms in the industrial and energy sectors. He cited Nigeria’s growing role in supplying aviation fuel to the European market and a local company’s production capacity matching that of the entire United States.
He also lauded the recent agreement between Ajaokuta Steel Company and the Nigerian National Petroleum Company Limited (NNPC) as a major milestone.
“The truth be told, the turnaround in the economy of our country, the legacy of Mr President will definitely speak for him. A very bold decision he took, we’re seeing the impact,” Oba Ogunwusi added.
Speaking on behalf of traditional rulers across the country, the Ooni expressed strong support for the Tinubu administration and called on Nigerians to back the President’s efforts for the betterment of the nation.
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