Ooni Lauds Tinubu’s Economic Reforms, Says Nigeria Reclaiming Global Standing
The Ooni of Ife, Oba Adeyeye Enitan Ogunwusi Ojaja II, has lauded President Bola Ahmed Tinubu for his administration’s economic reforms, saying they are restoring international confidence in Nigeria and positioning the country on the global economic map.
The monarch made this known during a courtesy visit to the President at the Presidential Villa in Abuja.
In his remarks, the Ooni emphasized that though the early stages of the reforms brought significant hardship to many Nigerians, the effects are beginning to yield visible economic benefits.
He cited improvements in foreign investor interest, stabilization of the exchange rate, and renewed global partnerships as signs that Nigeria is entering a more promising economic era.
“This is the first time in over 20 years that Nigeria has successfully eliminated the arbitrage between the official and parallel exchange rates. It is a huge milestone that sends a powerful signal to investors and the global financial community,” the monarch stated.
The Ooni noted that foreign investors were gradually regaining confidence in Nigeria’s capital markets due to clearer economic policies and stronger institutional stability.
He also referenced a recent economic and diplomatic engagement with a delegation from Kazakhstan, which he hosted at his palace in Ile-Ife.
According to him, the Kazakh visit—focused on trade, tourism, and cultural exchange—was a direct result of growing international recognition of Nigeria’s reform efforts.
“Investors are looking our way again. This is not by luck—it is due to the intentional steps your government has taken to stabilize the economy and restore credibility,” he told President Tinubu.
He further encouraged the government to continue engaging traditional institutions as developmental stakeholders. The Ooni stressed that cultural heritage, particularly tourism potential in historical cities like Ile-Ife, should be better harnessed as part of a broader economic diversification strategy.
In response, President Tinubu appreciated the Ooni’s visit and expressed commitment to sustaining the reform momentum. He reiterated his administration’s goal of building a more equitable economy, attracting sustainable investment, and improving quality of life for all Nigerians.
Economic reforms under Tinubu’s administration have included the removal of fuel subsidies, unification of exchange rates, tightening of monetary policy, and fiscal restructuring. While these policies have sparked protests and inflationary pressures, analysts say they are laying the groundwork for medium- to long-term economic recovery.
The Ooni’s public endorsement of the reforms is seen by observers as a significant cultural and symbolic backing of Tinubu’s economic direction, particularly as the country seeks to navigate a delicate balance between reform, stability, and inclusive growth.
