You are here: HomeNews2024 03 22Article 727558

General News of Friday, 22 March 2024

Source: www.mynigeria.com

'Forget about Tinubu, drive Innoson, call with Glo' - Reno Omokri urge Nigerians to patronize locally-made products

A typical Nigerian market_Photo: Mansur Ibrahim (AP) A typical Nigerian market_Photo: Mansur Ibrahim (AP)

Reno Omokri, a leading member of the Peoples Democratic Party (PDP) has called for more patronage of locally made products by Nigerian-owned companies to fight the inflation that led the dollar to struggle against major foreign currencies.

His latest advocacy comes as the naira made some gains on the U.S. dollar on Friday, March 22. In a post on his X page, he said: "Go out there and #GrowNairaBuyNaija if you want the Naira to rise further. Forget about Tinubu. Do it for yourself!"

Nigeria is facing one of the worst economic crises in years that has triggered surging inflation. Monetary policies by Central Bank Governor, Olayemi Cardoso pushed the naira to an all-time low against the dollar.

As of February 2024, the annual inflation rate soared to a fresh 31.7% from 29.9% in January. The drivers of the inflation are mainly due to the effects of oil subsidy removal and devaluation of the naira.

Nigeria’s currency, the naira, further plummeted from 1,524 to $1 on Friday, reflecting a 230% loss of value in the last year.

Reacting to the gains against the dollar, the social commentator appealed to Nigerians to "Drive Innoson, Nord and Call with Glo. Build with Dangote and BUA. Eat breakfast with Nasco. Make jollof rice with Erisco tomato paste. Lunch and dinner with made-in-Nigian rice, even if it has stones," he said.

"Go on dates at Tantalisers and Suya spots. Drink Zobo. Celebrate with palm wine. Fly Air Peace over Air France, KLM, or Lufthansa. Shop at local markets. Eat cassava bread over foreign wheat bread. Watch Enyimba and Kano Pillars and see Nollywood movies at Silverbird," he added.

The naira plummeted to 1,524 to $1 reflecting a 230% loss of value in the last year, AP reports.