Reno Omokri and his tableshaker tweets – The man making sense on how to revamp Nigeria’s economy
Reno Omokri is a controversial Nigerian, a politician and social media influencer just as he was a frontline campaigner for Atiku/Okowa during the last presidential election.
He has been involved in many advocacy crusades that have made him a man many love to hate and likewise hate to love.
Social media has become a veritable avenue to drop his “revolutionary” ideas making him a strong voice in the affairs of Nigeria.
In recent months he has been airing his views on the administration of President Bola Tinubu that you will think at times if he is a silent supporter of the former Lagos state governor in view of his views.
Against the backdrop of subsidy removal by Tinubu and weak naira regime that has made poverty remained endemic he has been pointing out Nigerians more than government have a big role to play in halting the slide and turning the economy around for the better.
His advocacy in this wise is that Nigerians should instead of heaping all blames on government start to patronize made-in-Nigeria products and services.
In tweets via @renoomokri under the title #TableShaker on Thursday and Friday he made these submissions:
Apple, an American company, is the largest company in the US Stock Market. AstraZeneca, a British pharmaceutical giant, is the largest firm in the UK stock market. SAP, a German conglomerate, is the largest concern in the German Stock Exchange.
So, how come MTN, a South African firm, is the largest company in the Nigerian Stock Market? They control almost 17% of our entire stock exchange. The second is Airtel, an Indian company, with nearly 15%.
That is why there is a downward pressure on the Naira. Because we gleefully patronise these foreign behemoths, who repatriate their billions of dollars in profit to their home countries, leaving the Naira stranded.
For every Naira traded in our stock exchange, at least 50 Kobo develops wings and flies to South Africa, India, Europe and America. And we say Nigeria is an independent nation?
And this will continue, and the Naira will go downhill. And you will grow poorer.
Unless you start patronising Nigerian brands, like Globacom Nigeria, the Dangote Group, Innoson Motors, Air Peace, and BUA, which are wholly Nigerian-owned and whose profits circulate here in Nigeria, adding value to the Naira!
Until a Nigerian company is the number one form on the Nigerian Stock Exchange, we will only blame the government when our own consumption habits as citizens are the chief causative factors for a weak Naira!
Answering a reply by @olanrewaju2sure “How de we address poor services being rendered by the so call Nigeria companies? The services being rendered by Nigeria companies are not customer oriented. Until that mentality is changed, the status quo remain,” to his tweet he had stated, “Patronise them and their increased revenue will gradually lead to improved services. That is how South Africans built MTN. Be patriotic.”
His other tweet: Please research this. When British BAE Systems won a $5 billion contract recently, it had an IMMEDIATE impact on the value of the British Pound. The same thing happened to the US dollar when Lockheed Martin won an $8 billion contract to deliver 126 F-35 military aircraft to various European countries some months back.
Globacom Nigeria Limited, Dangote Group, NASCO, Air Peace, First Bank, etc, are our own British BAE Systems and Lockheed Martin that will shoot up the value of the Naira. By patronising them, you are helping yourself!
Look, is it not a shame to us, as Nigerians, that of the ten biggest companies on the Nigerian Stock Exchange, MTN Nigeria Limited is number one with a total market capitalisation of ₦5.565 trillion? Please fact-check me. I deal in facts, not conjecture!
MTN Nigeria Limited accounts for 16.76% of Nigeria’s stock market because Nigerians do not know the value of patronising their own. If Globacom Nigeria Limited controlled 16.76% of our stock exchange, our Naira would have appreciated by at least 50%.
Airtel is the second largest company in Nigeria’s stock exchange, with a total market capitalisation of ₦N4.960 trillion, thereby controlling 14% of our stock market.
Dangote Group comes a distant third.
Meanwhile, there is not one Nigerian company amongst the top 100 firms in the South African stock market, known as the Johannesburg Stock Exchange. Please, fact-check me.
How can Nigeria’s bucket be full when we have different pipes and hoses redirecting our water to South Africa and other countries?
As far as I am concerned, it is economic sabotage for you as a Nigerian to use an MTN, Airtel, or Etisalat line when you can use a Glo line. It is in your interest to do so.
The value of a nation’s currency is dependent on its military-industrial complex. And Nigeria is surrendering hers to foreigners because of our insatiable thirst for foreign goods and services.
Make a sacrifice today. Port from MTN, Airtel, or Etisalat to Glo and watch the Naira grow with pride.
Get your money out of Stanbic Merchant Bank and into First Bank, UBA, Guaranty Trust Bank and any other fully Nigerian-owned bank.
Shop with your local market woman instead of Shoprite and any other store selling imported groceries.
Turn your TV dial away from Multichoice, SABC and DSTV and instead watch AriseTV and Channels.
Wear Babanriga, Agbada, Senator, and Etibo made with Nigerian fabric instead of Gucci, Balenciaga, Hermès, Armani, and Louis Vuitton.
And even if it will be difficult for you, start promoting Enyimba F.C. Shooting Stars, Sharks of Port Harcourt and Kano Pillars. I know it will be hard to wean yourself off the English Premier League, the Serie A and La Liga, but have confidence in me when I say that a stadium full of Nigerians watching Enyimba F.C. win the NPFL has more impact on the value of the Naira than an Emirates Stadium filled with our people in London.
My message is simple. If you want the Naira to increase in value, you must increase your patronage of made-in-Nigeria goods and services!