BY AHMED AKANBI
Former senator representing Ekiti South, Biodun Olujimi, has said the Federal Government’s unification of the foreign exchange market is yielding results, with people abroad now accepting naira for transactions.
Olujimi spoke during the weekend on Channels Television’s Sunrise Daily, where she called for patience from Nigerians over the reforms rolled out by President Bola Tinubu since May 2023.
She said the reforms have helped to stabilise the country and things are on the verge of getting better.
”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,'” she said.
The former lawmaker, who served from 2015 to 2023, quoted the person as saying people abroad now take naira, describing it as the right trajectory to reverse past damage.
”That is the trajectory; that is the only way we can upturn what had been undone in the past,” Olujimi stated.
She said in the past Nigerians only complained and pontificated without holding government to account, allowing impunity.
”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,” she said.
According to her, the situation went bad before the current government came to turn things around.
”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,” she added.
President Tinubu on assumption of office announced fuel subsidy removal and floating of the naira among other reforms.
The policies pushed petrol price from around N200 per litre to over N1,300, worsening cost of living and sparking calls for reversal from critics and opposition figures.
The Federal Government has however defended the policies as necessary to fast-track development.
Olujimi agreed, saying prosperity is near if Nigerians endure a bit more.
”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 said.
The former lawmaker said dollar round-tripping has ended and business is now strictly naira-based.
”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,” she said.