Ex-Lagos Speaker Ikuforoji Optimistic About Long-Term Benefits of Nigeria’s Economic Reforms

Honourable Adeyemi Ikuforoji, former Speaker of the Lagos State House of Assembly, has expressed confidence that Nigeria’s recent economic reforms will ultimately benefit the people, despite current hardships. Speaking with Radionow’s Abiodun Adelowore, Ikuforoji acknowledged the government’s palliative measures, including student loans, CNG-powered vehicles, and short-term credits, aimed at easing the impact of these reforms.

He stressed, however, that the full effects of the policies would take time to materialise. Ikuforoji called on Nigerians to be honest with themselves about their priorities and spending habits in light of the economic changes. He pointed out that the country has developed a culture of prioritising short-term gains and appearances over long-term sustainability, often leading to waste.

“We know there is no gain without pain. The people are complaining that they feel the pain, but the long-term effect of those policies will be to the benefit of the people. And I think the government also are taking the people into consideration. The government is not just saying, oh, because these policies are the right policies for our tomorrow. I don’t care about the noise around town. The government are putting a lot of palliative measures and we see the effects of those things. Like the student loan, for example. The CNG propeller vehicle. The short-term credits, and so on and so forth. Even import-free, duty-free imports for some staple foods and so on. All in all, I think for those who love Nigeria, for those who want our future to be better than our past, they have to give kudos to President Ndung’u and his team.”

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Ikuforoji urged Nigerians to shift their mindset, take greater responsibility for their actions, and not rely solely on the government for solutions. He suggested that a change in perspective would be crucial for the country’s economic future and overall development.

“A lot of things have gone wrong with us over time and you know as a people we also need to be honest with ourselves. Our society with misplaced priorities, we know that for us it is easier to eat what is meant for next year to eat it today, all in the name of social. There are lots of things that we do around here which you will not find in any developed or developing nation.We expect everything from government. We have become a society that just depends, you know, we become dependent on everything government. We don’t think we need to adjust ourselves.The waste that we create within our system due to our social life and in the last few decades we have become more of, yeah of course we are very extravagant, we are very wasteful, we don’t do things in moderation and we believe more in showing off.”