Senator Abiodun Olujimi is calling for patience from Nigerians following a raft of reforms rolled out by the Federal Government after President Bola Tinubu assumed office in May 2023.

Olujimi, who spoke on Friday, said the reforms have so far helped to stabilise the country, arguing that things are on the verge of getting better.

The former lawmaker who represented Ekiti South cited the unification of the foreign exchange market window, saying: “The other time I wanted to increase my stock. And I was asking someone, I said, ‘Where do we get foreign exchange to do this?’ And he came to me and said, ‘No, ma. You need Naira to do it.’ I said, ‘How?’ He said, ‘People abroad now take Naira.’

“That is the trajectory; that is the only way we can upturn what had been undone in the past. In the past we complained, but we didn’t do anything about it. We would just sit down and pontificate. And we didn’t hold the government to account. We left them to do whatever they pleased,” Senator Olujimi, who was in the upper chamber from 2015 to 2023, said on Channels Television’s Sunrise Daily show.

“Now the thing went bad. There is a government that is trying to see how we can turn it around, and then the struggle begins all over again. But I believe we can bear it. And if we bear it, there’s a light at the end of the tunnel.”

Upon assuming office, President Tinubu rolled out several policies as part of his government’s reforms. Some of these policies included the announcement of the stoppage of the petroleum subsidy, the floating of the naira, and others.

Since the move, especially on subsidy removal, the cost of petroleum went from around ₦200 per litre to over ₦1,300 depending on the area.

Critics and opposition figures have faulted the measure, saying it has increased the cost of living, and have called for the reversal. However, the Federal Government has defended the policies, insisting they are needed to fast-track Nigeria’s development.

Senator Olujimi concurs with that and believes that “if we allow it for a bit, we’ll just turn around the corner, and then we’ll be able to see prosperity, because prosperity is staring us in the face”.

She asked: “Where are the people who were doing the round-tripping, who were selling and buying dollars? It’s gone. Business now is strictly naira-based. And that is the only way we can go if we really want to reform the situation.”