The Ooni of Ife, Oba Adeyeye Ogunwusi, has expressed optimism that President Bola Ahmed Tinubu’s economic policies will ultimately help reduce and end poverty in Nigeria, Peak Newspaper reports.
The monarch said some of the reforms introduced by the Tinubu administration were already producing positive results and contributing to the revival of the Nigerian economy.
Oba Ogunwusi spoke at his palace during the unveiling of the National Mobility Programme of the Nigerian Consumer Credit Corporation (CreditCorp).
According to the Ooni, the various economic programmes and policies of the Federal Government are aimed at reducing the hardship faced by Nigerians and improving the country’s economic outlook.
He pointed to developments in Nigeria’s capital market, foreign exchange market and foreign reserves as signs that the economy was gradually becoming more stable.
The monarch said the improved stability in the foreign exchange market had also made it easier for businesses and individuals to plan and make economic projections.
He further disclosed that Nigeria’s capital market had grown to more than N150 trillion, describing the development as unprecedented in the country’s history.
The Ooni also said the nation’s foreign reserves had increased to more than $53 billion.
Oba Ogunwusi maintained that President Tinubu’s ultimate objective was to tackle poverty and improve the economic wellbeing of Nigerians.
He expressed confidence that the administration’s ongoing programmes and economic policies would continue to revitalise the economy and contribute to achieving that objective.
