Former Deputy Governor of the Central Bank of Nigeria (CBN), Mr. ‘Tunde Lemo, OFR, has expressed optimism about Nigeria’s economic outlook and Ogun State’s development prospects, declaring that signs of economic stability are gradually returning as the country enters the 2026 fiscal year.
In a New Year goodwill message to the people of Ogun State, Lemo acknowledged the economic hardships experienced by households and businesses in 2025 but said recent reforms introduced by President Bola Ahmed Tinubu, alongside monetary policies of the CBN, are beginning to restore confidence in the economy.
“Economic conditions were difficult, and the effects were widely felt. However, there are encouraging signs that stability is gradually returning”, Lemo stated.
He cited declining inflation trends and exchange-rate stability as early indicators of recovery, while admitting that the cost of living remains high.
Addressing concerns over the newly introduced tax policies, Lemo reassured citizens that the reforms are structured to protect low-income earners while ensuring equitable contribution from higher-income groups.
“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”, he said.
Security, Vigilance and Regional Collaboration:
Lemo also addressed security challenges facing the country, describing them as persistent but not insurmountable.
He commended the efforts of security agencies and regional initiatives such as the South-West–backed Amotekun Corps, noting that recent counter-terrorism measures are already yielding results.
He revealed that Ogun State narrowly averted a major security threat through the timely intervention of security agencies operating around the Ogun–Lagos axis, a development he attributed to improved intelligence coordination.
Ogun at 50: Reflection and Responsibility:
As Ogun State prepares to mark the 50th anniversary of its creation in February 2026, Lemo called for sober reflection on the state’s development trajectory and future responsibilities.
He described Ogun as a rapidly emerging economic corridor in the South-West, blessed with strategic assets that must be managed prudently.
“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”, he noted.
According to him, these advantages place a moral obligation on leaders and citizens alike to demand competence, experience and integrity in governance.
“These blessings must be managed with wisdom and entrusted to capable, competent and experienced hands. We must rise above patronage and narrow interests”, Lemo warned.
Call for Unity and Shared Responsibility:
Concluding his message, the former apex bank official stressed that the responsibility of building a prosperous Ogun State does not rest solely on government, urging citizens to remain united despite political or social differences.
“The task of building a stronger and more prosperous Ogun State belongs to all of us. The government alone cannot do it”, he said.
Lemo wished residents a peaceful and prosperous new year, expressing confidence that patience, commitment and collective effort would propel the state forward.
