Chief Okoi Obono-Obla, a former adviser to the president, has urged the ruling party to actively promote the production and consumption of consumer items created in Nigeria.
In order to generate foreign currency, he stressed, the nation should export these commodities.
On Monday morning, he spoke exclusively to MISMOB about the country’s hyperinflation and misery, blaming the dollar’s unfair edge over the naira.
It is unacceptable for the federal government to fix the naira’s exchange rate to foreign currencies, according to an APC chieftain, who fears that this will lead to the dollar’s dominance in the country’s economy.
The dollar’s status as a national currency has made it impossible to maintain a dollar-based economy. Our naira, the national currency, ought to be the medium of trade and commerce; nevertheless, we have sunk to the absurdity of elevating the dollar above our naira due to our propensity to embrace all things foreign, regardless of their value.
We generate foreign currency solely through the commercial export of crude oil. As a nation with 230 million people, relying solely on the international oil market to generate foreign currency is risky and detrimental to our national interest due to the market’s sensitivity, volatility, and vulnerability to global geopolitical and interest-based forces.
A stronger naira is a must, and the people of Nigeria and their government must work together in this endeavor.
When asked about the country’s insecurity and senseless murders, the activist and lawyer firmly stated that corruption and the institutionalization of lawlessness are to blame.
His main gripe was that the wealthy and powerful are the ones who aren’t following the rules and are responsible for most of the instability.
The ruling class has shown a consistent and long-term preference for disobeying the rule of law, ignoring due process, and generally disliking order.
The general public in Nigeria has internalized the message that criminal behavior would not be met with any repercussions as a result. The political elites’ decades-long anarchy, avarice, and lawlessness have finally caught up with us, he added.