Our reforms have stabilised the economy — Tinubu

President Bola Ahmed Tinubu has said his administration’s bold economic reforms are beginning to yield results, noting that the economy has stabilised and is now attracting global interest. The president stated this at the State House in Abuja when he received His Imperial Majesty, Oba Ghandi Afolabi Oladunni Olaoye, Orumogege III, the Soun of Ogbomosoland, […]

President Bola Ahmed Tinubu has said his administration’s bold economic reforms are beginning to yield results, noting that the economy has stabilised and is now attracting global interest.

The president stated this at the State House in Abuja when he received His Imperial Majesty, Oba Ghandi Afolabi Oladunni Olaoye, Orumogege III, the Soun of Ogbomosoland, alongside other traditional rulers.

“Years of neglect, self-deception, fake records, smuggling, and corruption denied Nigeria the revenue required for progress and development,” Tinubu said.

“We were confronted with arbitrage trading of currency and an illusion of selling papers. The integrity of our economy was badly challenged. We had to take decisive actions. With your prayers, patience, perseverance, and understanding, I am glad to tell you today that the economy is stabilised. The bleeding has stopped. The haemorrhage is gone; the patient is alive,” he added.

Tinubu also highlighted the establishment of the Nigeria Education Loan Fund (NELFUND) to ensure that no student drops out of school due to poverty. He described education as the “greatest weapon against poverty,” while stressing his administration’s commitment to infrastructure development.

He thanked the Soun for acknowledging his early reforms, pledging to engage the Ministers of Power, Water Resources, Agriculture, and Works to address the monarch’s requests, particularly on agricultural self-sufficiency.

In his remarks, the Soun commended Tinubu’s “bold strides,” particularly the removal of fuel subsidy, which he described as the right decision.