Reno Omokri, a former aide to the president, has encouraged Nigerians to back local businesses to sustain the increasing value of the naira against the dollar in the foreign exchange market. He emphasized that this approach is crucial to prevent the naira from depreciating further. As of April 5th, the exchange rate has held steady at N1300 to $1, contrary to predictions of it reaching N2000 per dollar.
Reno Omokri Addressing Dollar Hoarding
Omokri applauded those participating in the #GrowNairaBuyNaija initiative, which aims to deter market speculators forecasting a higher exchange rate. He warned against holding onto dollars in hopes of their value increasing, suggesting a shift in mindset sooner rather than later. He emphasized that the dollar’s value would diminish further once Dangote and Port Harcourt refineries begin supplying fuel to Nigerian consumers.
List of Nigerian Brands to Support
Here’s a compilation of Nigerian goods and services Omokri recommended Nigerians to embrace:
- Communications: Opt for Glo services.
- Transportation: Choose vehicles from Innoson or Nord Build, supported by Dangote and BUA.
- Culinary Preferences: Incorporate Nasco products for breakfast, locally grown rice for meals, and Erisco tomato paste for cooking.
- Leisure: Select Tantalisers and Suya spots for outings.
- Beverages: Enjoy Zobo and palm wine.
- Travel: Prefer Air Peace over Air France, KLM, or Lufthansa.
- Shopping: Frequent local markets.
- Bakery Items: Opt for cassava bread instead of foreign wheat bread.
- Entertainment: Support local football teams like Enyimba and Kano Pillars, watch Nollywood movies at Silverbird, and stream Nigerian music.
- Fashion: Embrace traditional attire like aso oke, agbada, babanriga, or isi agu.
Today is April 5, 2024, and the Naira remains firm at ₦1245 to $1. Throughout this month, the Naira has been below ₦1300 to a dollar. You and I engaging in #GrowNairaBuyNaija have put Arise TV and their evil ₦2000 to $1 to shame. If you are one of those who bet against the… pic.twitter.com/BWmyUA4wZq
— Reno Omokri (@renoomokri) April 5, 2024
By actively choosing Nigerian products and services, individuals can contribute to stabilizing the naira and bolstering the country’s economy.
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