Reno Omokri suggests ways to strengthen poor-performing Nigerian currency
Reno Omokri suggests ways to strengthen poor-performing Nigerian currency
Pastor Reno Omokri, a former aide to ex-president Goodluck Jonathan, has shared insights with Nigerians on potential strategies to bolster the value of the dwindling Naira.
Reno made the suggestions via his Twitter handle, now hosted on the X platform.
On Monday, the Nigerian naira experienced significant declines, reaching record lows on both the official and unofficial markets.
Concurrently, local stocks registered their most substantial single-day drop in over a year, as anxious investors divested from domestic assets.
The currency plunged to 1,712 naira per dollar during late trading on the official market and approached similar levels on the unofficial market following continued losses.
Speaking on how to rescue the Naira, Reno Omokri pointed out that buying locally made goods against imported ones will continue to strengthen the local currency and boost the economy with time.
He said, “Things are hard in Nigeria because fuel subsidy has been ended, and the Naira has been floated. “We cannot keep borrowing to consume. Please fact-check me.
“If we keep borrowing, we will only pass the hardship to our children. Let us bear it now and pass prosperity to the next generation.
“Nobody is coming to save Nigeria. It is only Nigerians that will save Nigeria. Local brands may or may not be as good as foreign ones, but with continued patronage, they will improve in quality.
“Buy them, and your Naira will rise along with your personal happiness and the international rating of the green Nigerian passport. Your value is tied to Nigeria’s value. Buy Nigerian and Nigeria’s foreign reserves, trade balances, and debt to GDP ratio will automatically improve.”
