Ooni of Ife, Oba Adeyeye Ogunwusi Ojaja II, has commended President Bola Tinubu’s economic reforms, stating that the initial hardship is gradually giving way to positive results.
Speaking at the Nigeria-Kazakhstan Business Council International conference in Abuja, the monarch noted that the arbitrage between the parallel and official markets has been closed for the first time in 20 years.
The Ooni attributed the progress to the president’s bold economic reforms, which have made the country more investor-friendly. He also highlighted the repositioning of the capital market for better foreign investment inflow.
The monarch expressed optimism about the growing bilateral relationship between Nigeria and Kazakhstan, which began with last year’s meeting between Tinubu and his Kazakhstan counterpart.
Meanwhile, Minister of Agriculture and Natural Resources Abubakar Kyar confirmed a 40% crash in food prices, citing increased supply and demand. He praised the president’s N200bn intervention in the sector, which has given farmers renewed hope.
Kyar also disclosed plans to roll out price stabilisation mechanisms within the next two weeks to further reduce prices without discouraging local production.
The Deputy Minister of Kazakhstan Foreign Affairs, Alibek Kuantyrov, praised the Ooni for hosting his delegation and urged the Nigerian government to consider opening an embassy in Kazakhstan to facilitate business. Kuantyrov noted that Kazakhstan aims to promote food security in Central