Reactions have trailed Ooni of Ife, Oba Adeyeye Ogunwusi’s claim that President Bola Tinubu’s administration has witnessed what he described as unprecedented strides in public governance and the private sector, saying the administration’s bold reforms are already repositioning Nigeria globally.
Ooni had in a video posted online, said the results of the Tinubu government are obvious and that Nigeria has not witnessed this kind of economic turnaround in its history.
“President Bola Ahmed 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,” Oba Ogunwusi stated.
He cited key economic indicators to back his position. According to him, the Nigerian capital market is approaching a market capitalization of over 140 trillion, while the country’s foreign reserves have climbed to 52 billion dollars.
“Never in the history of Nigeria. Also, the foreign reserve of this country is now getting to 52 billion dollars. This can finance importation in the next three years conveniently,” the monarch said.
Oba Ogunwusi added that the reforms have brought stability to the foreign exchange market, with reduced disparity and the elimination of arbitrage and rent-seeking.
“The projection is there clearly that the dollar is going to be well stabilized and there will not be anything to shake our foreign exchange. The disparity is so close, no more arbitrage, no more rent scheme, we are now ready for real production in our country,” he said.
The Ooni further highlighted Nigeria’s growing strategic role in global industries, pointing to the aviation and energy sectors as examples.
“Never in the history of our country that Nigeria will play a very strategic role in European economy. Thank God for a company in Nigeria to have sustained the aviation industry of the entire European market. Right now, a company in Nigeria, a local company in Nigeria is at par in terms of production capacity of aviation fuel of the entire United States of America,” he noted.
He also praised developments at Ajaokuta Steel and the NNPC, describing them as evidence that the engine room of our economy is being turned around.
“Also, our dear president is turning around the engine room of our economy. Look at what just happened with Ajaokuta Steel and NNPC, the strategic agreement in providing gas for an industry that they said it can never work in our country,” Oba Ogunwusi said.
The monarch concluded by pledging the support of traditional rulers to the administration, saying the President’s legacy will speak for him.
“I can go on and on about things that this government has achieved. On behalf of all the traditional rulers of this country, we are very proud and very happy to be associated with this government. I think every political leader on behalf of Mr. President here today deserves a resounding round of applause.
“Also, the truth be told, the turnaround in the economy of our dear country, the legacy of Mr. President will definitely speak for him. A very bold decision he took, we are seeing the impact,” the Ooni added.
Reacting to the video, some Nigerians agreed with the monarch while others said Ooni’s claims contradicted the reality on ground.
Olamilekan Adigun is a graduate of Mass Communication with years of experience in journalism embedded in uncovering human interest stories. He also prioritises accuracy and factual reportage of issues.
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