In a remarkable show of support for President Bola Tinubu’s leadership, the revered Ooni of Ife, Oba Adeyeye Ogunwusi, has openly commended the administration for ushering in what he describes as an unparalleled era of economic transformation for Nigeria.
The Ooni’s praise was delivered during the official inauguration of the President Bola Ahmed Tinubu Door-to-Door Movement, an event that highlighted the tangible progress Nigeria is experiencing under President Tinubu’s guidance.
During his speech on Friday, the Ooni emphasized that the President took office thoroughly prepared, with a clear vision and actionable strategies. “It is undeniable that the impact of his policies can be observed in both the public and private sectors,” he asserted, pointing out that Nigeria is currently witnessing economic changes of a magnitude never seen before in the nation’s history. “President Bola Tinubu came very prepared, and the results are nothing short of remarkable.
What is transpiring across our nation today is an experience unlike any we have encountered before,” the Ooni stated confidently.The traditional ruler highlighted significant economic indicators that underscore the success of the current administration. He noted with pride that Nigeria’s capital market is approaching a staggering market capitalization of over ₦140 trillion, an achievement that reflects the robust health of the economy.
“In the history of Nigeria, we have never reached such heights. This speaks volumes about the growth we are experiencing,” he remarked. Furthermore, he shared that the nation’s foreign reserves have surged to an impressive $52 billion, which he asserted is sufficient to fund imports over the next three years without difficulty. Oba Ogunwusi went on to discuss enhancements in the foreign exchange market, underscoring the new stability that has emerged, which is reducing opportunities for arbitrage and rent-seeking behavior.
“The projections indicate that the value of the dollar is on a stable path; no longer will our foreign exchange be susceptible to shocks. The disparities are narrowing significantly, indicating there is no room for further arbitrage or rent-seeking practices. We are now poised for genuine production within the country,” he confidently proclaimed.In his speech, the monarch also praised the bold economic reforms introduced by the Tinubu administration, declaring them to be critical milestones whose benefits are becoming increasingly visible.
“Let us speak the truth—the remarkable turnaround we are witnessing in our nation’s economy is a testament to the legacy of Mr. President. He has made daring decisions, and we are already experiencing their positive impact,” Ooni Ogunwusi stated.Moving beyond macroeconomic indicators, the Ooni referenced advancements in Nigeria’s industrial and energy sectors as further evidence of progress. He joyfully remarked, “Never before has Nigeria played such a pivotal role in the European economy. We have a local Nigerian company that has become integral in sustaining the aviation industry across the entire European market.”
His pride swelled further as he revealed that this company is now operating at a production capacity for aviation fuel comparable to that of the United States.The Ooni also spotlighted a recent groundbreaking agreement between the Ajaokuta Steel Company and the Nigerian National Petroleum Company Limited. He framed this development as yet another significant achievement, stating, “Our President is diligently working to turn our economy around. Look at the impressive strides made with Ajaokuta Steel and the NNPC, establishing a strategic pact to provide gas for an industry that many thought could never thrive in our country.”
“In truth, I could elaborate on the numerous accomplishments this government has achieved for hours,” he added, showcasing his enthusiasm for the nation’s current trajectory.Concluding his heartfelt address, the Ooni expressed the unified support of traditional rulers from across the country for the Tinubu administration. “On behalf of all the traditional rulers in Nigeria, we take immense pride and joy in our association with this government,” he affirmed, urging the audience to show their appreciation. “I call on everyone here today to give a resounding round of applause to every political leader in attendance, including Mr. President.
If your motives are genuinely focused on the betterment of Nigeria, please join me in applauding our President and his team,” he encouraged, prompting a wave of applause to echo through the venue, perfectly encapsulating the spirit of hope and collective purpose that he seeks to inspire.
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