The Ooni of Ife, Oba Adeyeye Ogunwusi, has expressed confidence in President Bola Tinubu’s economic reform agenda, saying the administration’s policies are already producing positive results and are aimed at ultimately ending poverty in Nigeria.

The monarch said the measures introduced by the Federal Government had begun to strengthen key areas of the economy while creating conditions for improved economic planning by businesses and individuals.

Ogunwusi spoke at his palace during the unveiling of the National Mobility Programme of the Nigerian Consumer Credit Corporation (CreditCorp).

According to him, recent developments in the capital market, foreign reserves and foreign exchange market indicate that the government’s economic interventions are beginning to have an impact.

“The economic policies of the Tinubu administration are already yielding good results,” the Ooni said.

He noted that Nigeria’s capital market had grown to more than N150 trillion, while the country’s foreign reserves had risen above $53 billion.

He also said increased stability in the foreign exchange market had enabled businesses and individuals to make better economic projections.

“Things that have never been recorded in history, we have recorded them. Our capital market has gotten to over N150 trillion. Nigeria is now the most capitalised market in the world, and we are now over $53 billion in foreign reserves,” he said.

The Ooni maintained that the ultimate objective of Tinubu’s economic policies was to lift Nigerians out of poverty, expressing optimism that the various programmes introduced by the administration to cushion economic hardship would contribute to achieving that goal.

“The intention of President Tinubu is to put an end to poverty among Nigerians,” he said.

Ogunwusi added that the measures implemented so far had helped to revitalise the Nigerian economy and expressed hope that the gains would be sustained.