Idumuje-Ugboko, Delta State – Senator Prince Ned Nwoko, who represents Delta North, is working on new laws to protect Nigeria’s independence. In a recent meeting with journalists at his home in Idumuje-Ugboko, Senator Nwoko discussed two important bills. He believes these bills will help Nigeria control social media and reduce its dependence on foreign currency, paving the way for a stronger economy and more national pride.
The first bill aims to set rules for social media in Nigeria, similar to those in the U.S., U.K., and Japan. “Social media needs regulation in Nigeria,” he said. He believes this will help create jobs, improve technology sharing, increase tax income, make legal processes simpler, and cut down on fake news.
Senator Nwoko explained that if big social media companies like Facebook, Instagram, and X (formerly Twitter) open offices in Nigeria, it would have a big impact. These companies could create thousands of jobs for Nigerians. “Imagine Facebook opening an office in Lagos, Abuja, or Asaba, employing 5,000 people with good salaries,” he said. Local offices would also mean more tax income for public services and infrastructure.
Beyond jobs, Nwoko sees a chance for technology transfer. Local offices would allow Nigerian engineers to learn from global tech leaders. “Countries like China and South Korea didn’t invent everything, but by learning from others, they now lead in electronics and car production. Nigeria could do the same,” he added.
Currently, the lack of offices in Nigeria makes it hard for Nigerians to get justice for defamation or other legal issues on these platforms. “Without offices here, legal cases are tough and costly,” he said. Local offices would make it easier for Nigerians to seek justice and reduce fake news since these companies would be more accountable.
The second bill aims to stop the use of foreign currencies for transactions within Nigeria, which Nwoko calls a “colonial mindset.” He questioned why foreign workers are paid in dollars while Nigerians earn naira, calling it unfair. “Why should foreign workers get paid in dollars, while Nigerians are paid in naira?” he asked.
He believes using only naira for all payments in Nigeria would boost the economy and strengthen the naira’s value worldwide. By paying everyone in naira, regardless of nationality, he feels this change will raise national pride and lessen Nigeria’s reliance on foreign currency. “To strengthen our economy, we need to value our currency,” he said.
Senator Nwoko described the harm of using foreign currency in important sectors like oil and gold. “Selling our resources for dollars lowers the naira’s value,” he explained. “This reduces the worth of our currency worldwide.”
He envisions a future where international traders would need naira to do business in Nigeria, creating demand for it abroad. “If foreign investors need naira, they will seek it in their own countries. When they come here, they’ll use the naira, lifting its global value,” he said. Nigerians wouldn’t have to exchange naira for dollars when traveling but could use naira directly in major cities worldwide.
Senator Nwoko also pointed out the colonial legacy in Nigeria’s economic policies, like keeping foreign reserves in Western countries. “Our reserves are in the U.S., but does America have reserves in Nigeria? No,” he remarked. “Our $40 billion reserve in the U.S. supports their economy while we buy their goods at the cost of our economy.”
He questioned why Nigeria should rely on foreign reserves when the Central Bank of Nigeria (CBN) could handle the country’s financial needs. “We’re one of the largest importers. Keeping our currency reserve here would strengthen our economy, not someone else’s,” he said. For Nwoko, relying on foreign reserves is a sign of “surrendering our economic independence.”
The Senator said his legislative goals are not for personal gain. Reflecting on his achievements, like recovering funds through the Paris Club Refund, he shared, “I’m not in politics for wealth. I’ve fought for Nigeria and taken risks in remote places, like Antarctica. These experiences strengthen my resolve.”
He is also focused on Nigeria’s future through his academic initiatives, including starting a sports university. “When I proposed a sports university, even the National Universities Commission didn’t fully get it. Now, we have students combining sports with academics, and we’re in our second year.”
Nwoko also advocated for creating Anioma State, saying it would bring governance closer to the people and foster growth. “With two states, we’ll have more governors, senators, and ministerial positions. This will lead to better representation and opportunities for the Anioma people.”
The Delta State NUJ Chairman, Comrade Churchill Oyovwe, praised Senator Nwoko for addressing issues that matter to Nigerians. “Senator Nwoko’s bills reflect our hopes for economic independence and social accountability,” he said, urging quick support for the bills.
If passed, Senator Nwoko’s proposals could reshape Nigeria’s economy and social standards. His social media bill would increase accountability and economic growth, while his currency bill would restore national pride and strengthen the naira. Nigerians are discussing these ideas as a potential path to greater independence, respect, and prosperity.
With public support, Senator Nwoko’s vision could help Nigeria achieve lasting dignity and success on the world stage.
