Economic Hardship Now Easing in Nigeria – Ooni of Ife
The Ooni of Ife, Oba Adeyeye Ogunwusi Ojaja II, has declared that Nigeria’s economic hardship is abating, attributing the positive shift to President Bola Tinubu’s bold economic reforms.
The monarch made the statement on Sunday at the maiden edition of the Nigeria-Kazakhstan Business Council International Conference held in Abuja, where he highlighted key economic improvements under the current administration.
According to the Ooni, despite initial economic turbulence, Nigeria is witnessing gradual relief. He likened the economic challenges to an aircraft experiencing turbulence before stabilizing, emphasizing that things are now “normalizing on a gradual basis.”
“We want to send a message on behalf of the private sector and the traditional institution of this country that we are getting there gradually as a nation. For the first time in 20 years, the arbitrage between the parallel market and the official market has been closed completely,” he stated.
The monarch further stressed that Nigeria is now an attractive destination for foreign investment, citing improvements in the capital market and increased interest from international business partners.
He also noted that the growing bilateral relationship between Nigeria and Kazakhstan stemmed from last year’s meeting between President Tinubu and his Kazakhstan counterpart, paving the way for enhanced trade and economic cooperation.
As the nation continues to navigate economic reforms, the Ooni’s remarks signal optimism for a more stable and investor-friendly business environment in Nigeria.
