Reno Omokri, a well-known political commentator and activist, recently expressed his views on the increasing exchange rate between the Dollar and the Nigerian Naira.
He believes that Nigerians are spending a significant amount of money on foreign goods and imported products, which is causing the devaluation of the country’s currency.
Omokri specifically mentioned the high expenditure on human hair and other foreign products, emphasizing that Nigerians should prioritize domestic products instead.
He concluded by stating that, if he were the president, he would take steps to prohibit the importation of human hair.
“The Naira is a reflection of the Nigerian. Look, the Central Bank of Nigeria just paid a billion dollars to foreign airlines. Those are airlines flying the same route as Air Peace. Do you know that if you and I, as Nigerians, had flown Air Peace instead of foreign airlines, that $1 billion would have stayed and circulated in Nigeria? And when dollars and pounds stay in Nigeria, the Naira rises in power. If they leave Nigeria, our Naira goes lower and lower.
The Central Bank had to cough up $200 million to pay for human hair, as if God did not give our women hair. This is hair that Indian, Bangladeshi, and Southeast Asian women cut and dedicate to their temples. They then barely process the hair and label them Brazilian, European and Peruvian hair, and our women rush to buy them, wear them, and shake the hair angrily to accuse Tinubu of ruining the economy. If I were Tinubu, I would ban the importation of human hair. Fact-check this, as a nation, Nigeria spends more on human hair than on books.
The Naira is now our collective responsibility. When you go to Quilox to spend #5 million on Moét, Louis XIIl Cognac, and Glenfiddich, then post your receipt on social media, you are putting downward pressure on the Naira.
Containers on the high seas coming to Nigeria with things we can produce in Nigeria are killing the Naira. There is no magic wand. If we don’t band together to stand together and buy made in Nigeria, the Naira will continue to go asunder!”