Professor Iyabo Obasanjo, daughter of former President Olusegun Obasanjo, has revealed her support behind President Bola Ahmed Tinubu’s economic direction, describing the stabilisation of the Naira as a major achievement with far-reaching implications for businesses and investors.
Speaking with journalists at the Olusegun Obasanjo Presidential Library in Abeokuta on Saturday, the former Senator for Ogun Central said the relative predictability in the foreign exchange market has restored confidence in economic planning.
“I think there is a lot going on positively. One is the stabilisation of the Naira. What that does is that people can predict how much money they will spend on imports and how much income they will get. So stabilisation of the Naira is a big one,” she said.
According to her, exchange rate stability is critical to economic growth because it allows businesses to plan around import costs and export earnings without the fear of sudden currency fluctuations.
“So, I think that the economic stability cannot be underestimated because when people can predict income and exports, they do it, things get better because then you are not buying something at one price because of the dollar instability, and having to sell, buying it at a higher price, and then it changes everything,” she added.
Obasanjo also praised the Lagos-Calabar Coastal Road project, despite earlier criticisms surrounding it. She said the initiative could significantly boost economic activity and ease congestion along major transport corridors.
“Although there was a lot of negativity around the road to Calabar, that will generate income in terms of ports. They will connect the two ports now to the other one. It will also ease transportation to the East in ways that we can’t even start to reckon with,” she stated.
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She further pointed to what she described as improvements in security, attributing them to increased collaboration both domestically and internationally.
“There are also some improvements in security, mainly because now we have a lot of collaboration going on. The international collaboration, the President’s visit to different countries for trade and economic development, is rising. And that is the key to everything we do. I think that does.”
The professor of veterinary medicine, who recently declared her intention to contest the 2027 Ogun State governorship election, said her experience in public service has prepared her for higher responsibility.
A former Commissioner for Health in Ogun State between 2003 and 2007, she expressed confidence that the state is well positioned to produce Nigeria’s first female governor, citing its literacy level and historical record of female leadership, including figures such as Madam Tinubu and the Egba women warriors.
On the question of power rotation within Ogun State, Obasanjo addressed concerns about Ogun West not having produced a governor since the state’s creation on February 3, 1976.
She said it was not the fault of Ogun Central, noting that her father and other political leaders from the zone had previously supported efforts to produce a governor from Ogun West, albeit unsuccessfully.
She suggested that unless Ogun East and Central zones are willing to concede political space, it may remain difficult for Ogun West to produce a governor in the near term, lamenting the absence of a clear agreement or consensus among the zones.
