By Queen Kunde
In a bold testament to Nigeria’s growing economic potential, the Ooni of Ife, Oba Adeyeye Ogunwusi Ojaja II, has commended President Bola Tinubu’s economic reforms, stating that they are gradually yielding positive results.
The revered monarch made this statement while hosting a 30-man delegation from the Republic of Kazakhstan at the maiden edition of the Nigeria-Kazakhstan Business Council International Conference in Abuja.
Led by Kazakhstan’s Deputy Minister of Foreign Affairs, Mr. Alibek Kuantyrov, the high-powered delegation included top government officials and business moguls seeking investment opportunities in Nigeria.
Speaking at the event held at Transcorp Hilton over the weekend, the Ooni, who also serves as Co-Chairman of the National Council of Traditional Rulers of Nigeria (NCTRN), hailed the recent stabilization of Nigeria’s forex market as a major milestone in the country’s economic recovery.
“For the first time in 20 years, the arbitrage between the parallel market and the official exchange rate has been closed completely,” the monarch stated.
“We are seeing positive changes, and Nigeria is becoming more investor-friendly. Our capital market is now repositioned for better foreign investment inflow. This conference marks a major step in strengthening bilateral relations with Kazakhstan.” he added
AGRIC MINISTER CONFIRMS 40% DROP IN FOOD PRICES
The Minister of Agriculture and Food Security, Abubakar Kyari in his address lauded the Ooni’s leadership, confirming a significant reduction in food prices across the country.
“Our market surveys show that food prices have crashed by 40% in the past month. However, we urge food processors to pass these benefits on to consumers,” Kyari stated, attributing the development to the government’s N200bn intervention in the agricultural sector and an improved supply-demand balance.
He expressed optimism that the Kazakhstan’s delegations visit will yield positive outcomes to benefit both countries especially in the Agriculture Sector.
KAZAKHSTAN SEEKS STRONGER TIES, URGES NIGERIA TO OPEN EMBASSY
Kazakhstan’s Deputy Minister of Foreign Affairs, Kuantyrov, praised Nigeria’s economic strides and called for the establishment of a Nigerian embassy in Kazakhstan to facilitate smoother trade relations.
“Our goal is to promote food security across Central Asia and beyond. Kazakhstan initiated the Organisation of Islamic Food Security, with over 40 member nations. Strengthening diplomatic and trade ties with Nigeria is crucial for both our nations,” Kuantyrov remarked.
The Ooni of Ife, who also chairs the Nigeria-Kazakhstan Business Council, has been at the forefront of driving bilateral trade relations.
Just weeks ago, he dispatched a team led by the council’s Executive Secretary, Chief Adeniyi Adesoji, to Kazakhstan for high-level discussions with investors and government officials.
As Nigeria pushes forward with economic diversification, this latest engagement signals a growing confidence in the country’s investment landscape, reinforcing its position as a strategic player in global trade and economic partnerships.