The Ooni of Ife, Oba Adeyeye Ogunwusi, has commended President Bola Tinubu’s administration, describing the ongoing economic reforms as unprecedented in Nigeria’s history.
Speaking on Thursday during the inauguration of the President Bola Ahmed Tinubu Door-to-Door Movement National Executives, the monarch said the President assumed office with a clear vision and that the impact of his policies is already being felt across both the public and private sectors.
According to the Ooni, Nigeria’s current economic transformation is unlike anything the country has experienced before.
“President Bola Tinubu came well prepared, and the results are becoming evident. What is happening across governance and the private sector is something we have never witnessed in our nation’s history,” he said.
The traditional ruler highlighted what he described as significant improvements in the country’s economic indicators, noting that Nigeria’s capital market has grown to over ₦140 trillion in market capitalisation, while foreign reserves are approaching $52 billion.
He added that the country’s foreign exchange market has become more stable, reducing opportunities for arbitrage and creating a stronger environment for productive investments.
Oba Ogunwusi said the administration’s bold economic decisions are laying the foundation for long-term growth and industrial development.
He also pointed to progress in the energy and manufacturing sectors, referencing developments involving local production of aviation fuel and the recent agreement between the Ajaokuta Steel Company and the Nigerian National Petroleum Company Limited (NNPCL), which he described as a major step toward revitalising Nigeria’s industrial base.
The monarch maintained that President Tinubu is repositioning the nation’s economy through strategic reforms and investments.
Speaking on behalf of traditional rulers, the Ooni expressed support for the administration and urged Nigerians to acknowledge the government’s efforts in advancing economic development.
