Nigeria's Economy Not In Shambles: Reno Omokri Counters Davido

Reno Omokri counters Davido on his recent statement at an interview at the Big Homies House.

While on the interview, Davido was asked about what he thinks about Nigeria and its economy; the popular singer replied that “Nigeria’s  economy is in shambles.”

He further added that “we do not have the best leaders. That is a fact.”

However, a popular social media personality, Reno Omokri counters  Davido’s statement on the Big Homies House.

Reno believes that Nigeria’s economy is not in shambles. On his official Facebook page, Reno Omokri said  “Is Nigeria’s economy in shambles as singer Davido claimed?

I beg to disagree with singer Davido that Nigeria’s ‘economy is in shambles’. If our economy is in shambles, how was it possible for Wizkid’s album, Morayo, to record 12.12 million streams on its inaugural day of release on Spotify Nigeria, which made the album the biggest-selling album on a streaming platform in Nigeria’s history for the first day.

Please fact-check me: Streaming music is purchased with disposable income.

People do not have disposable income in an economy in shambles, not to mention breaking streaming records, especially on Spotify, where the average streaming cost is $10.99 monthly.

How many singers have broken streaming records in Venezuela or Argentina? Those are economies that could be said to be in shambles, not Nigeria.

Perhaps if Davido had built a track record of showing more commitment to Nigeria, he, like Wizkid, would have broken streaming records on Spotify Nigeria.

David Adeleke displayed ignorance and a lack of patriotism with that statement on a globally renowned podcast like The Big Homies House. Even worse is that he said, “We do not have the best leader, that is a fact.”

He further added that “The reforms in Nigeria were necessary to stop wastage, such as the $1.5 billion used to defend the Naira monthly, the $15 billion expended on fuel subsidy annually, and the wanton importation of products that we could manufacture in Nigeria by opportunistic importers.

And the reforms are working. Nigeria has had four uninterrupted consecutive quarters of trade surpluses for the first time ever, meaning that we now export more than we import.

Nigeria has achieved a new record in its balance of trade, with an unprecedented ₦14.07 trillion trade surplus by half year 2024”, he said.