Reno Omokri Urges Tinubu’s Support In Banning Human Hair Imports to Boost Naira Value

Reno Omokri Urges Tinubu’s Support In Banning Human Hair Imports to Boost Naira Value

In a fervent appeal, former presidential aide Reno Omokri has urged President Bola Tinubu to take decisive action in prohibiting the importation of human hair. Omokri made this call during a recent interview, where he discussed strategies to enhance the value of the Naira, placing responsibility on Nigerians for the currency’s challenges…..CONTINUE READING

The Naira witnessed a significant depreciation, plummeting by 42% against the US dollar within a mere two days. FMDQ data disclosed a new low of N1,482.57 per US Dollar on Tuesday, reflecting a 9% or 133.94 loss compared to the previous day’s closing rate of N1,348.63.

Omokri, a former special assistant to ex-President Goodluck Jonathan, linked the Naira’s status directly to the behavior of Nigerians. He criticized the prevailing preference for foreign airlines over Nigerian carriers on international routes, citing the recent one-billion-dollar payment by the Central Bank of Nigeria to foreign airlines.

Emphasizing the impact of consumer choices on the Naira’s stability, Omokri stressed the crucial need for Nigerians to support local businesses. He advocated for choosing Nigerian airlines, like Air Peace, over their foreign counterparts. Criticizing the Central Bank’s expenditure of $200 million on the importation of human hair, Omokri proposed that banning such imports could play a pivotal role in stabilizing the Naira.

Omokri highlighted the paradox of Nigeria spending more on imported human hair than on educational materials, expressing deep concern about the adverse effects of unnecessary imports on the economy. He appealed to President Tinubu to consider implementing measures to curtail the importation of human hair, underscoring the potential positive impact on the nation’s economic landscape.