Ooni Applauds Tinubu, Says Economic Reforms Are Paying Off
By Abdulmajeed Abdullateef | NIGPOST
The Ooni of Ife, Oba Adeyeye Ogunwusi Ojaja II, has praised President Bola Tinubu for his bold economic policies, stating that the hardship caused by the reforms is beginning to ease, leading to positive changes in Nigeria’s economy.
Speaking at the Nigeria-Kazakhstan Business Council International Conference in Abuja, the monarch emphasized that for the first time in 20 years, the gap between the parallel market and official exchange rates has been completely closed.
“We all know the challenges our country has faced, but things are gradually stabilizing. These are the fruits of the tough decisions being made,” he said.
Nigeria Becoming an Investor-Friendly Nation
According to the Ooni, the Nigerian economy is now more attractive to investors, with a strengthened capital market and growing international partnerships.
He highlighted that many Nigerian entrepreneurs are eager to connect with their Kazakhstani counterparts to expand trade and business opportunities.
The conference also shed light on the bilateral relationship between Nigeria and Kazakhstan, which was initiated after President Tinubu met with his Kazakhstani counterpart last year.
40% Drop in Food Prices – Agriculture Minister
Also speaking at the event, the Minister of Agriculture and Natural Resources, Abubakar Kyari, confirmed a 40% drop in food prices over the past month.
Kyari attributed this to:
- Increased food supply from a successful harvest season
- Government monitoring of commodity prices
- Efforts to discourage food hoarding. “We are ensuring that the price reductions benefit ordinary Nigerians, not just food processors and retailers,” he added.
Tinubu’s N200 Billion Intervention Boosts Farming
The minister credited President Tinubu’s N200 billion intervention fund for revitalizing the agriculture sector, ensuring better yields and price stability.
“The President is committed to bringing down food inflation. We are rolling out more price stabilization mechanisms to sustain this progress,” Kyari said.
Kazakhstan Seeks Stronger Diplomatic Ties with Nigeria
Speaking on the diplomatic front, Kazakhstan’s Deputy Minister of Foreign Affairs, Alibek Kuantyrov, urged Nigeria to open an embassy in his country to strengthen bilateral trade and cooperation.
“Kazakhstan is committed to food security in Central Asia and beyond. We have over 40 member nations in the Organisation of Islamic Food Security, and Nigeria’s role in global food trade is crucial,” Kuantyrov said.
As Nigeria continues on this path of economic reforms, the question remains—will these policies lead to long-term stability and prosperity for all citizens? Only time will tell.
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