Reno Omokri suggests pushing foreign companies out of Nigeria

Reading Time: 3 minutes

Reno Omokri, a Nigerian politician, has suggested expelling foreign businesses from Nigeria.

Omokri, who worked as an aide to former President Goodluck Jonathan, has encouraged Nigeria’s recently elected President, Bola Tinubu, to take action in revitalising the country’s economy.

The former assistant held the view that supporting local businesses involved discouraging foreign companies from operating in Nigeria and helping local entrepreneurs to acquire their assets.

“I would introduce some heavy killer taxes that will drive MTN, DSTV, and Shoprite out of Nigeria to be replaced by Nigerian-owned businesses,” Reno suggested, adding, “Otunba Mike Adenuga can be supported to buy MTN Nigeria’s assets.”

Omokri, who previously worked for the opposition party’s presidential candidate, Atiku Abubakar, during the last presidential election, suggested that the Nigerian government should take measures to push DSTV, a South African company, out of Nigeria. He believes that Nigerians should have the option to watch other local channels such as “Arise and Channels TV” instead.

Reno Omokri
Reno Omokri

“I will also invite Air Peace to Aso Rock and ask them to consider being Nigeria’s national carrier. They can remain private but must change their name to Nigerian Air Peace. Once they agree, I will tax foreign airlines and give them a rebate, and within four years, they will overtake Ethiopian Airlines as Africa’s biggest and most successful airline.

“I will order the Central Bank of Nigeria to grant huge interest-free loans to Innoson Vehicle Manufacturing Company and order my industry minister to relocate to Nnewi to help them expand their facilities.

“Then I, as President, will use a bulletproof IVM car, and then place the mother of all taxes on foreign vehicles whilst banning any Ministry, Department, Agency or Parastatal of the Federal Government from using any other car except IVM.”

Attempting to justify his position, Omokri recalled that as a former Presidential spokesman, “We were given economic data that shows how vulnerable Nigeria is to so-called foreign investors.

Nigeria Flag
Nigeria Flag

“The money that leaves Nigeria through exploitative investments is more than the FDI that flows into Nigeria. The largest source of foreign exchange into Nigeria is Nigerians in the diaspora. And to encourage them to send more money to Nigeria, I would suggest President Tinubu spearheads the initiative to give them the right to vote. “

His proposal to boost agriculture in the country was for the President to “Cconvene a National Economic Council meeting to appeal to the thirty-six state Governors to give free land to any Nigerian citizen resident in their state for the sole purpose of farming, whether small or large scale agriculture.

Bola Tinubu
Bola Tinubu

“Once you start your farm and the Ministry of Agriculture inspects it, you get free seeds and seedlings of your choice, free fertilisers, along with a grant of ₦250,000, which you will not need to repay, except you abandon your farm.

“If we take these steps and others, the value of our Naira will skyrocket, and the Federal Government will immediately have the financial wherewithal to pay its workers a ₦75,000 monthly minimum wage.”

On May 29, it was announced by Mr Tinubu that the fuel subsidy would be removed. This has caused great hardship for many Nigerians, some of whom were already struggling to afford basic necessities. The President has faced criticism for implementing this removal without adequate plans to alleviate the suffering of the people.

There is a potential downside to Omokri’s suggestion, as it could further lead to increased inflation. The country is already experiencing high inflation, with the annual rate reaching 22.79% in June, up from 22.41% in the previous month, as reported by the National Bureau of Statistics (NBS).

©Standard Gazette, 2021. Unauthorized use and/or duplication of this material without express and written permission from this site’s publisher is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Standard Gazette with appropriate and specific direction to the original content.
Translate »