President Bola Tinubu said Nigeria has regained its respectable status among the global community, all thanks to his administration’s bold economic reforms.
The President made this known when he received His Imperial Majesty, Oba Ghandi Afolabi Oladunni Olaoye, Orumogege III, the Soun of Ogbomosoland, in audience with some other royal fathers at the State House.
This is contained in a statement by presidential spokesman, Bayo Onanuga, on Wednesday, September 3, 2025.
Upon assuming office in 2023, Tinubu introduced radical reforms, including the removal of petrol subsidies and the unification of the foreign exchange market, triggering a negative economic shock.
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Meanwhile, the President stated that these reforms, which aim to restore Nigeria to its enviable position, have begun yielding favorable results, earning the country its rightful place across the globe.
He reiterated that the country’s economy is now stable and attracting interest from around the world, after years of stagnation due to misguided policy direction.
”Years of neglect and self-deception, fake records, smuggling, and all of that denied Nigeria the necessary revenue for progress and development,” Tinubu said.
“Then we were confronted again with arbitrage trading of currency, an illusion of selling papers, corruption all over the place, and the integrity of the country and its economy being extremely and adversely challenged.
“We had to take those actions. With your prayers, patience, perseverance and great understanding, I’m glad to tell you today that the economy is stabilised. The bleeding has stopped. Haemorrhage is gone; the patient is alive.”
Among other achievements, the President highlighted his administration’s accomplishments, including the Nigerian Education Loan Fund (NELFUND), which aims to ensure that no student drops out due to poverty.
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He affirmed every citizen’s right to education, which he described as the “greatest weapon you can give to human beings against poverty; that’s what we are doing. We have remained aggressive on our infrastructure. And it’s just two years.”
Tinubu thanked the Soun of Ogbomoso for acknowledging the bold decisions taken immediately upon resumption of office, adding that the people of Ogbomosoland were already feeling the modernisation and transformation introduced by the monarch, who promised to strengthen traditional institutions.
