The Ooni of Ife, Oba Adeyeye Ogunwusi Ojaja II, has claimed that the economic hardship in Nigeria has abated.

He praised President Bola Tinubu, stating that the hardship resulting from his bold economic reforms is gradually giving way to relief among Nigerians.

He made the claim on Sunday, at the maiden edition of the Nigeria-Kazakhstan Business Council International conference held in Abuja.

The monarch also emphasised that the arbitrage between the parallel and the official markets has been closed completely for the first time in 20 years.

According to him, “We all know the challenges of our dear country. I will give a simple example of a plane at the highest altitude dropping. Any casualty can come up in that process. But we thank God Almighty that things are normalising on a gradual basis in our country. These are all the fruits of great things we are seeing as a nation now.

“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.

“It is quite evident that now our country is investor friendly. Our capital market is repositioned for a better inflow of foreign investment. Also, many Nigerian entrepreneurs that are here are looking forward to connecting with their associates from Kazakhstan as well.” 

Continuing, the Ooni also noted that last year’s meeting between Tinubu and his Kazakhstan counterpart birthed the current bilateral relationship between the two countries.

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