Ben Murray-Bruce, a former Senator from Bayelsa, has encouraged Nigerians to support domestic products and services instead of favoring foreign brands, with the aim of bolstering the Naira.
He also suggested that Nigerians living abroad should consider investing in businesses in Nigeria.
Murray-Bruce conveyed this message through a Friday post on X, emphasizing that “opting to float the Naira and discontinuing its defense with our reserves and other dollar reserves is the prudent choice.”
This development coincides with the depreciation of Nigeria’s domestic currency, which dropped from approximately 450 per dollar to an average of 760 per dollar. Furthermore, the Naira’s value deteriorated to 1045 per dollar in the parallel market on Thursday.
As stated by the entrepreneurial figure, Nigerians are encouraged to support locally produced goods in various sectors, including cinemas, cement, airtime, flights, and vehicles. These actions serve as their contributions to fortify the Naira.
He said: ” The Naira is finding its proper and natural value because the Central Bank of Nigeria has stopped the practice of defending the Naira with $1.5 billion monthly.
“If you want the Naira to rise, don’t come on social media to vent. Instead, it would be best if you now defended the Naira by coming on social media with Glo data. Coming to Silverbird Cinemas to watch Nollywood movies. Shifting from Manchester United and Real Madrid to Enyimba FC and Kano Pillars. Eating Dangote spaghetti and washing it down with Chivita juice, and flying home for Christmas and New Year with Air Peace. Only when we #BuyNaijaToGrowTheNaira will the Naira appreciate, not when we come on social media to vent.”
Reaction after he dropped the message on his X handle
