Reno Omokri, a former presidential aide, has urged President Bola Tinubu to prohibit the importation of hair as a way to strengthen the Naira in reaction to the current depreciation of the currency.
While talking about methods to improve the Naira’s stability, Omokri made this recommendation and blamed Nigerians’ consumption patterns for the currency’s problems.
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The Naira experienced a significant decline, dropping by 42 percent against the US dollar within two days, reaching an all-time low of N1,482.57 per US Dollar on Tuesday, according to data from FMDQ. This marks a 9 percent or 133.94 loss compared to the previous trading day.
Omokri, who served as a special assistant to ex-President Goodluck Jonathan, expressed his views on X, asserting that the state of the Naira mirrors the behavior of Nigerians. He particularly criticized the preference for foreign airlines over Nigerian carriers on international routes, highlighting a recent payment of one billion dollars by the Central Bank of Nigeria to foreign airlines operating the same routes as Air Peace.
“The Naira is a reflection of Nigerians,” Omokri stated, emphasizing that the love for foreign products, including hair imports, contributes to the challenges faced by the local currency.
While advocating for a ban on hair importation, Omokri underscored the need for a shift in consumer preferences toward supporting domestic products and services. His commentary points to a broader discussion on economic patriotism and the role of consumer choices in shaping the strength of the national currency.
Oreoluwa is an accountant and a brand writer with a flair for journalism.
