Now that the CBN has ended the economically senseless policy of defending the Naira with $1.5 billion monthly, we need more Nigerians to buy made in Nigeria
Founder of Silverbird Group, Ben Murray-Bruce, has called on Nigerians to persistently patronize the country’s home made goods and services adding that it is the only way to save the nation from being perished economically.
The Businessman and Senator who represented Bayelsa East (2015-2019) sated this in a video on one of his Common Sense Series on his X (Twitter) account. He maintained that persistent buying of made in Nigeria goods and services is the only way to save the Naira and the country’s economy from total destruction.
“If we don’t persist in buying made in Nigeria goods and services, we will perish economically. #BuyNaijaToGrowTheNaira,” Murray-Bruce said in an X post.
He also hailed the Bola Tinubu led federal government for putting an end to Naira subsidy against the dollar – “The days of subsidised Naira are gone forever,” he said. He explained that, “And now that the CBN has ended the economically senseless policy of defending the Naira with $1.5 billion monthly, we need more Nigerians to buy made in Nigeria.
He pointed out that, “The Naira will not rise even if Nigeria sells more crude oil. Not only are we not getting money from present sales since the Buhari government took the funds in advance, but we are also not an oil-rich nation.
“We are talking about 1.7 million barrels of oil per day to a population of over 200 million people. Angola has just 15% of our population and produces more oil than we do. Stop looking at oil for our salvation.”
“For so many years, Nigeria has been propping up the Naira; now, this has stopped, and the Naira has found its actual level. However, this isn’t bad news. We can restore the purchasing power of the Naira,” he said in a video.
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Buttressing his point, Murray-Bruce stated further that, “For almost a decade, I have been a proud owner of several Innoson vehicles. I bought a staff bus to take Silverbird staff to and from work, an SUV, and a Sedan. So, I am heavily invested in #BuyNaijaToGrowTheNaira.
“My late wife was an American. Yet, she lived with me in Nigeria, contributing to our country’s economic growth through her businesses. Too often, our people invest more in criticism and pull him down, which is why Nigeria has few helpers. You get up, roll your sleeves and want to help, and people begin to find problems for your solutions rather than solutions for your problems. Anyway, it comes with the territory. Every month, I pay over a thousand Nigerians whom I encourage to buy Nigerian. And now that the CBN has ended the economically senseless policy of defending the Naira with $1.5 billion monthly, we need more Nigerians to buy made in Nigeria.
In another related post, Murray-Bruce warned that, “The crude oil swaps that the Buhari engaged in should not occur again. And the National Assembly should consider passing laws to prevent any present or future President from engaging in it”
He asked rhetorically, “Why should one administration collect monies ahead of time for future crude contracts? How would salaries be paid? What about infrastructure?”
“It should never have occurred in the first place. But now that it has, the focus should not be on probing the previous government. That will generate unnecessary tension. The focus should be on making sure it does not occur again. And that can only happen if we have legal safeguards in place.
“Additionally, no administration should be allowed to just print Naira ad infinitum without recourse to the National Assembly. Part of the reason why the Naira is on a downward trajectory is due to this practice. When money not tied to production goes into circulation, economic destruction results,” he stated.
