Reno Omokri, former presidential aide and socio-political commentator, has countered claims that Nigeria’s economy is in shambles, offering ten fact-based reasons to support his stance.
Omokri’s statement, released on Sunday, comes in response to recent remarks by a Nigerian entertainer describing the economy as dire.
He cited Bloomberg’s report on the $2.5 billion investment by JBS SA, the world’s largest meat producer, as evidence of Nigeria’s economic viability.

Below are the ten reasons Omokri provided:
- Highest ROI Worldwide
Nigeria boasts the highest return on investment (ROI) globally at 35%, according to the Economist Intelligence Unit, published by The Economist. - Upgraded Economic Ratings
Leading rating agencies Fitch and S&P Global Ratings have upgraded Nigeria’s economic outlook to a Stable B, signaling international confidence. - GDP Growth
Nigeria’s Gross Domestic Product (GDP) grew by 3.19% in Q2 2024, higher than the 2.51% growth recorded in Q2 2023 and the 2.98% in Q1 2024. - Foreign Reserves Surge
Capital inflows boosted Nigeria’s foreign reserves to $40 billion in November 2024, marking a year-to-date high. - Non-Oil Revenue Milestone
Nigeria earned ₦10.33 trillion in non-oil revenue between January and August 2024, surpassing the annual target by 43.4%. - Increased Foreign Exchange Inflow
Net foreign exchange inflow rose by 67.8%, reaching $27.6 billion in the first half of 2024 compared to $16.44 billion in 2023, attributed to efforts to block financial leakages. - Expansion of Credit Access
American Express introduced its first business credit card in Nigeria in 2024, enabling businesses to access credit under the country’s liberalised fiscal and monetary policies. - Electricity Sector Reforms
The 2023 Electricity Bill signed by President Tinubu ended the federal monopoly, allowing states and private investors to participate in power generation and distribution. - This reform boosted the private sector’s net worth by approximately $1.8 billion.
- Meta’s Monetisation for Creators
Following the upgrade of Nigeria’s economy, Meta (Facebook) introduced monetisation for Nigerian content creators in June 2024. - Record-Breaking Customs Revenue
Nigeria Customs Service achieved unprecedented revenue milestones, with the Area 11 Command (Onne) generating ₦22 billion daily and Apapa Command amassing ₦2 trillion by October 2024.
Omokri concluded by referencing IMF Managing Director Kristalina Georgieva’s remarks during the G20 Summit in Rio de Janeiro, where she praised Nigeria’s “decisive reforms” for fostering economic growth and job creation.
He urged Nigerians to promote the country’s economic achievements, stating: “If you have an opportunity to speak to the world, use it to market Nigeria.
You owe that to yourself.”
Support InfoStride News' Credible Journalism: Only credible journalism can guarantee a fair, accountable and transparent society, including democracy and government. It involves a lot of efforts and money. We need your support. Click here to Donate