Invest in made-in-Nigeria, CNG vehicles, Naira value will rise – Reno urges FG

Former President GoodLuck’s aide and social media influencer, Reno Omokri has urged the President Tinubu-led administration to invest in made-in-Nigeria products, especially local manufacturing of inexpensive vehicles that run on Compressed Natural Gas (CNG).

He said President Tinubu should look inward rather than outward to cushion the impact of fuel subsidy removal.

Reno disclosed this on his Twitter page on Wednesday, while sharing his view on what could be the solution to the effect of subsidy removal by President Tinubu.

IdanNew enjoyed Tinubu to summon Chief Innocent Chukwuma the founder and CEO of Innoson Vehicle Manufacturing, Nigeria’s first indigenous automobile manufacturing company, to Aso Villa and meet with his Economic Management Team to deliberate on the needs and help FG can provide for his company to “start manufacturing inexpensive vehicles that run on compressed natural gas (CNG)”.

“I will counsel the Tinubu administration to look inward rather than outward to cushion the impact of subsidy removal. Summon Chief Innocent Chukwuma to Aso Rock, along with your Economic Management Team. Ask him what he needs to start manufacturing inexpensive vehicles that run on Compressed Natural Gas (CNG). Then give him the money on a zero-interest basis so that he can start churning out cars and buses for Nigerians.

“The loan will be interest-free on the condition that he will, in turn, grant Nigerians low-interest hire purchase options to buy his vehicles.

“Once we have a million CNG vehicles on our roads, especially if they are made-in-Nigeria, the national demand for petrol will drop dramatically, and there won’t be the need for a subsidy because Nigeria is entirely self-sufficient in natural gas and can provide it for citizens at next to nothing.” the Tweet reads

Reno stresses further that the Naira will rise in value if Nigerians embark on massive usage of locally made products rather than imported goods because “more of our capital will circulate in our country rather than flying to Europe, America and Asia”.

His Tweet “Imagine 60 million Nigerians dependent on made-in-Nigeria IVM cars powered by made-in-Nigeria CNG, using Glo mobile to make our calls, and Dangote and Ibeto cement to build our houses, and buying made-in-Nigeria food and beverage from Next Cash and Carry instead of Shoprite. If we take these actions, the Naira will immediately rise in value because more of our capital will circulate in our country rather than flying to Europe, America and Asia.

“We need creative solutions like this. And these are some of the ideas that the Nigerian Labour Congress leadership should be coming up with rather than resorting to protests when Nigeria is facing an existential crisis in Niger Republic that can destabilize our country and region”.