Former Deputy Governor of the Central Bank of Nigeria (CBN), Dr. Tunde Lemo, has expressed optimism that Nigeria’s economy is gradually stabilising, saying recent reforms by President Bola Ahmed Tinubu and supporting monetary policies of the apex bank are beginning to restore confidence.
Lemo, who spoke in his 2026 goodwill message to the people of Ogun State, congratulated residents for witnessing the new year and thanked God for His grace and preservation over the state and its people.
He noted that 2025 was a challenging year for many households and businesses, as economic pressures were widely felt across the country.
“Economic conditions were difficult, and the effects were widely felt. However, there are encouraging signs that stability is gradually returning,” he said.
The former CBN deputy governor stated that inflation was trending downward while the foreign exchange market was showing signs of stability, attributing the developments to ongoing fiscal and monetary reforms.
While acknowledging public concerns over the high cost of living and the new tax policy, Lemo said the reforms were designed to protect low-income earners while ensuring that those with greater capacity contribute fairly to national and state development.
He also raised concerns over security challenges in parts of the country, including Ogun State, despite the efforts of security agencies and regional initiatives such as the South-West–funded Amotekun Corps.
Lemo, however, expressed gratitude that a major security threat in Ogun State was recently averted through the timely intervention of security agencies operating along the Ogun–Lagos axis.
“As we prepare to mark the 50th anniversary of the creation of Ogun State this February, this is a fitting moment to reflect on our journey and consider the path ahead,” he said.
According to him, Ogun State is steadily emerging as a major economic corridor in the South-West and must now focus on accelerating development that directly improves the wellbeing of its people.
He highlighted the state’s vast potential, noting that Ogun hosts 22 universities—the highest concentration in Nigeria—one of the fastest-growing industrial clusters in Africa, and abundant natural resources such as limestone and bitumen.
“These blessings must be managed with wisdom and entrusted to capable, competent, and experienced hands,” Lemo stressed.
He warned against patronage and narrow interests, saying the future of Ogun State demands high standards of leadership, professionalism, and service.
Lemo emphasised that the responsibility of building a stronger and more prosperous Ogun State should not be left to government alone, calling on citizens to play active roles in governance and development.
“The task before us requires unity of purpose, patience, and commitment. With the grace of God, we shall surely move our State forward,” he said.
He concluded by wishing the people of Ogun State and Nigerians at large a peaceful, healthy, and prosperous 2026.
“Long live Ogun State. Long live the Federal Republic of Nigeria,” Lemo said.
