President Bola Tinubu has declared that Nigeria’s economy has stabilised under his watch, insisting that the country is “respected again” after years of neglect, revenue leakages, and corruption that left the nation bleeding.
The President spoke when he received the Soun of Ogbomosho, Oba Ghandi Afolabi Laoye, Orumoge III, on Tuesday, at the State House, Abuja, in the presence of ministers and senior government officials.
Tinubu said his administration’s difficult but necessary decisions since May 2023 had stopped the haemorrhage of public funds and restored integrity to the economy.
“Thank you for the credit and recognition of the bold endeavours we embarked on from Day One. We recognise that it is painful initially, difficult for people to accept, but it is the same way nature treats mankind — one lesson or the other helps them through difficult times once they recognise the weakness of their own makings,” he said.
The President noted that years of “neglect, fake records, smuggling, and arbitrage trading” denied the country the revenue needed for progress.
According to him, pervasive corruption in the currency market also worsened the situation, but reforms have begun to yield results.
“We have established NELFUND for students so that no one will be a dropout because of poverty. Everybody is entitled to education.
“It is the greatest weapon you can give a human being against poverty. We are renewing our infrastructure aggressively, and in just two years I am glad to report that the economy is stabilised, the haemorrhage is gone, Nigeria is alive… Nigeria is respected. Nigeria is becoming a great business partner to the rest of the world,” Tinubu said.
Responding to requests tabled by the Soun of Ogbomosho land, the President promised urgent action on electricity and water supply in the town, describing the issues as “strong notes” he had taken.
“On the question of the 132KVA transmission, I have taken strong note of that. I will be with the Honourable Minister and other parties involved, and I promise you will see results,” he said.
Tinubu also directed the Minister of Water Resources to look into Ogbomosho’s dams and the lack of mechanised irrigation. “Water is life. We will do everything to respond to that,” he assured.
The President further pledged federal support for agriculture, skills development, and youth employment in Ogbomosho, saying the area’s vast farmlands could be harnessed for cashew, mangoes, and other products.
Earlier, Oba Laoye lamented that Ogbomosho, despite being the second largest town in Oyo State and historically one of Nigeria’s biggest urban centres, had been left behind in development because it is not a state capital.
He appealed for federal intervention in power and water projects to ease the plight of residents.
“Most times, we do not have light. This town is the second largest in Oyo State. Historically, it used to be the third largest in Nigeria, but because Ogbomosho is not the capital, other towns we were bigger than have now overtaken us.
“We have two dams but no running water. For us to have two dams and still lack water is a shame,” the monarch said.
The Soun expressed confidence in Tinubu’s administration, noting the impact of his leadership model in Lagos State. He urged the Federal Government to prioritise Ogbomosho’s requests, which, he stressed, were “few but critical.”
