General News of Friday, 7 August 2026
Source: www.mynigeria.com
Nigeria's Ambassador-designate to Mexico, Reno Omokri, has revealed that the salary increment for the military, as initiated by President Bola Tinubu, will eventually get to all public sector workers
He, however, pointed out that it is necessary to first increase Nigeria's productive capacity before raising wages again, in order to avoid the hyperinflation that greeted Nigeria after the Udoji Awards of 1975.
"Already, under President Tinubu, Nigeria now has the second-largest manufacturing base in Africa. Before this administration, we were struggling between third and fourth place. Now, only Egypt, with a manufacturing capacity of $59.6 billion, is above Nigeria's, with $55.7 billion.
"However, it is believed that when the figures are recalculated, Nigeria under President Tinubu may even overtake Egypt.
According to Bloomberg, the Nigerian Stock Exchange is the most profitable on Earth, bar none. The NGX returned a profit of 68%, overtaking South Korea's KOSPI index," he said on Facebook.
He added that the Naira has also emerged as the second-best-performing currency in Africa for the first quarter of 2026, trailing only the Zambian kwacha, according to FXTM.
"Our economy grew by 3.89% year-on-year in the first quarter of 2026, while our foreign reserves have hit a 17-year high of $52.5 billion. All objective Nigerians can see that the President is working. The Tinubu reforms are stabilising the economy, which is why no state is unable to pay salaries under this President, unlike the 27 that could not pay wages before the President's ascension.
At the right time, you, in the public service, would, like the military, see an increase in your purchasing power. These are your Tinubu gains that are causing pains for the opposition," Omokri said.