Former presidential aide Doyin Okupe has offered to President Bola Tinubu many economic interventions, including leaving the Organisation of Petroleum Exporting Countries (OPEC).
Okupe gave the advice in a series of tweets headed ‘For President Bola Tinubu: Still Many Rivers to Cross’ on Thursday.
When asked about Tinubu’s performance since taking office on May 29, he claimed the President had “hit the ground sprinting.”
“Nigeria must leave OPEC.” “Oil reserves may become meaningless in about two decades,” claimed the former Labour Party presidential campaign director.
“The present allocation of less than 2 million barrels per day for Nigeria with a population of over 200 million people and it’s prevailing strangulating economic conditions, given volumes of export to our main foreign exchange earner (90%) is inimical to our growth as a nation and to the wellbeing of the citizens.”
Outside OPEC, Okupe argued that Nigeria could reduce its selling price of crude but also increase exports to three million barells and above per day.
“This will increase accruable revenue from forex by up to 200% or more, which will allow the CBN have more supply of forex to the banks. In the face of surplus liquidity in forex supply, Naira will gain tremendous value over the Dollar,” he said.
For President Bola Tinubu: Still Many Rivers to Cross.
President Bola Tinubu actually hit the ground sprinting; showing much determination, zeal commitment and courage. He has taken 2 extraordinarily bold steps by abolishing fuel subsidy and equalizing foreign exchange.
— Doyin (@doyinokupe) August 17, 2023