Reno Omokri compares Nigeria’s economic progress to Vietnam
Social media influencer and political critic Reno Omokri has likened Nigeria’s current economic trajectory to that of Vietnam, citing recent strides made by President Bola Tinubu’s administration. Omokri, a former aide to ex-President Goodluck Jonathan and a vocal supporter of the Peoples Democratic Party (PDP), made this comparison in a video posted on his X (formerly Twitter) account on Thursday, October 3, 2024, just hours after meeting with Tinubu at the Presidential Villa in Abuja.
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Omokri, who has been a prominent critic of the ruling government, surprised many with his visit to the Presidential Villa on Nigeria’s Independence Day. He shared a photo of himself sitting alongside President Tinubu and shaking hands, accompanied by the caption, “Spending Independence Day with President Tinubu at the Presidential Villa. May God bless Nigeria.”
In the video that followed, Omokri praised Tinubu’s government for what he described as notable progress in security, trade, and economic reforms. He acknowledged that the administration had made significant strides in combating insecurity, particularly in the North-West region, where several notorious bandit leaders have been eliminated in recent months. He also highlighted Nigeria’s improved terrorism index rating, which has dropped from 8% in previous years to below 7%, signaling enhanced security conditions.
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On the economic front, Omokri pointed to Nigeria’s recent trade surplus, noting that the country recorded a ₦14 trillion surplus in the first two quarters of 2024. He attributed this achievement to the government’s efforts in bolstering national security and tightening border controls, which have resulted in increased exports and reduced imports.
“One of the reasons for the first time we’ve had a trade surplus for two quarters is because we’re exporting more than we’re importing. We’re seeing this trade surplus due to the national security measures taken at our borders,” Omokri explained.
He also expressed support for Tinubu’s controversial decision to remove the fuel subsidy, arguing that it was a necessary step for Nigeria’s long-term economic health. Omokri noted that many of Tinubu’s political opponents had also promised to remove the subsidy during their 2023 election campaigns but lacked the courage to follow through once in office.
“For years, we’ve been borrowing and borrowing. Previous administrations didn’t have the courage to do what this administration has done—stopping the fuel subsidy. To sustain the subsidy, you need to borrow more, and when you keep borrowing, future generations will have to pay for it. That’s exactly what we’re experiencing now,” Omokri said.
He further likened Nigeria’s current economic situation to that of Vietnam, a country that has undergone significant economic reforms in recent decades. According to Omokri, Nigeria’s currency is gradually stabilizing, and the country is seeing a rise in locally manufactured goods—a trend he believes will soon have a positive impact on the lives of ordinary Nigerians.
“Right now, we’re like Vietnam. Our currency is being stabilized, and we’re seeing more goods manufactured in Nigeria. Gradually, this will affect you and me. So, I ask you to be patient,” Omokri urged.
Omokri’s comments have sparked discussions on social media, with some praising his call for unity and patience, while others questioned his sudden shift in tone towards Tinubu’s administration. Nonetheless, his visit to the Presidential Villa and subsequent statements have added a new layer of intrigue to Nigeria’s political discourse as the country continues to navigate its economic and security challenges.
