President Bola Tinubu has defended his government’s sweeping economic reforms, insisting they have stabilised Nigeria’s fragile economy and restored confidence among investors and international partners.
“The bleeding has stopped. The haemorrhage is gone. The patient is alive,” Tinubu said on Tuesday during a meeting with Oba Ghandi Olaoye, the Soun of Ogbomosoland, at the presidential villa in Abuja. His remarks were released in a statement on Wednesday by presidential spokesperson Bayo Onanuga.
Since taking office in May 2023, Tinubu has removed fuel subsidies, overhauled foreign exchange policy, and introduced education financing reforms. He acknowledged the hardship these policies initially caused but said they were necessary to “save the integrity of the economy.”
Tinubu also promised more investment in agriculture and infrastructure to drive food security and rural development.
The visiting monarch praised the reforms, noting that the education loan scheme was already helping students stay in school. He welcomed the long-awaited dualisation of the Oyo–Ogbomoso highway and appealed for more federal support in healthcare, power, and agro-industrial research.
Tinubu pledged to direct relevant ministries to study the monarch’s requests, reaffirming his government’s determination to pursue policies he described as “bold but necessary.”
