Reforms has restored confidence, says Lemo

A former Deputy Governor of the Central Bank of Nigeria (CBN), Tunde Lemo has said that the economic reforms of President Bola Ahmed Tinubu, supported by the monetary policies of the apex bank, are beginning to restore confidence in the country’s economy.

Lemo noted that inflation is trending downward, and exchange rates have stabilized.

This was contained in his 2026 goodwill message Lemo further noted: “while the cost of living remains high and concerns about the new tax policy are understandable, it is important to reassure our people that this policy is intended to ease the burden on low-income earners, while ensuring that those who are better positioned contribute fairly to national and state development.

“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 however lamented that the security of lives and property remains a matter of concern.

“Despite the efforts of our security agencies and regional initiatives such as the South-West–funded Amotekun Corps, challenges persist.”

“Nonetheless, we are encouraged by new counter-terrorism measures that are already yielding results.

“We give thanks to God that a potentially serious security threat in Ogun State was successfully prevented through the timely intervention of security agencies operating around the Ogun–Lagos axis.”

 Lemo congratulated every indigene and resident  of the state  for having been preserved to witness the new year 2026.

“We give thanks to God Almighty for His grace, mercy, and guidance over our dear State and its loving people.

“As we reflect on the year 2025, we must acknowledge that it was a demanding period for many families and businesses.

“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.

“Ogun State is steadily positioning itself as a major economic corridor in the South-West.

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“While we honour the contributions of those who led before us, the responsibility before us now is to accelerate development in ways that directly improve the wellbeing of our people.

“Our state is richly endowed. Ogun State is home to 22 universities, the highest concentration in Nigeria, one of the fastest-growing industrial clusters in Africa, and abundant natural resources including limestone and bitumen. “These blessings must be managed with wisdom and entrusted to capable, competent, and experienced hands. We must rise above patronage and narrow interests, for the future of our State demands high standards of leadership and service.”

“The task of building a stronger and more prosperous Ogun State belongs to all of us. Government alone cannot do it. Each citizen has a role to play. Let us remain united in spirit and purpose, irrespective of our differences.

“With patience, commitment, and the grace of God, we shall surely move our State forward”, Lemo stated.