America is on a mission to destroy Nigeria economically.
With nigeria as the biggest african economy and rising influence, calculations in washington is to bring her down to her knees.

Why?

Nigeria announced a conversion of our External Reserve from the dollar to the Chinese Yuan to facilitate trade.

We practically get all our products from China and little or nothing from the US but still pay in dollars!

So if the Nigerian experiment is allowed to succeed, it will influence smaller countries to run away from the dollar. And at that stage, what do you think will happen to the over hyped US dollar?

Now russia and China are set to do same.
So the calculation is simple, stop buying their crude, destroy their economy with low crude prices, nigeria depletes our external Reserves and bingo!
What then will you convert to yuan if you have no external reserve?

Forget the Gay law, corruption or weapons going to BH excuses.

http://www.vanguardngr.com/2014/10/chinese-ambassador-backs-plan-convert-nigerian-foreign-reserves-dollars-yuan/

http://m.csmonitor.com/World/Africa/Africa-Monitor/2011/0906/West-Africa-Rising-Nigeria-shifting-currency-reserves-from-dollars-to-Chinese-yuan

Stop the hate on Americans.....some said some times ago that America was behind boko haram now,they are not purchasing our crude oil because they want the country shattered.


When will we face our own problems and stop blaming others for our own problems

Bellafinesse:
Stop the hate on Americans.....some said some times ago that America was behind boko haram now,they are not purchasing our crude oil because they want the country shattered.


When will we face our own problems and stop blaming others for our own problems

those people can never be taken as not being behind our problem- they always want us under their feet.
I can't wait for US to fall.

Bellafinesse:
Stop the hate on Americans.....some said some times ago that America was behind boko haram now,they are not purchasing our crude oil because they want the country shattered.


When will we face our own problems and stop blaming others for our own problems

My dear it seems you do not understand the word "Hate".
There is no hate in what I posted up there. I simply laid down some facts, your duty is to counter them objectively, not to give a "hate" speech.

Do your research, get your points then come back.

Sanusi proposed this in 2011 and it was acclaimed globally as an endorsement of the power of the yuan as a global currency.

It may also interest you to know that, it is claimed that converting our reserves to the yuan will make our currency stronger and allow us control the value of the Naira.

How else do you want us to face our problems if we don't start from the Naira we use every second?
Is the drop in oil prices a Nigeria Induced problem?
Is the US not buying our crude caused by Nigeria not facing our problems?

Did the US agree to sell us weapons to fight BH which is our main problem right now?

So kindly explain the problems we should face!
And brother if you think Nigeria's problems exist in isolation from global affairs and strategic interests, then there is no need holding this discussion with you.

Am waiting for your points!

Meanwhile read this report below:
http://mobile.bloomberg.com/news/2011-09-07/sanusi-says-nigeria-plans-to-get-yuan-to-10-of-reserves-soon-as-possible.html

Caseless:
those people can never be taken as not being behind our problem- they always want us under their feet.
I can't wait for US to fall.

Previously the US could do no wrong as far as I was concerned, but sometime this year I sat down to critically examine the US and its actions towards Nigeria. Honestly, I don't think or even see anything altruistic in their behaviour towards us.

They are working actively to undermine the nation. It doesn't matter who is at the top, GEJ or GMB, so long as you refuse to be a puppet, then you are a marked man.

We need to wise up!

This is what Bloomberg said,

“Sanusi’s actions underscore a growing problem that all central banks in Africa and other major emerging markets will face in the coming years as their trade with China increases,” Spio-Garbrah wrote. “More African countries are expected to follow Nigeria’s lead in coming months -- probably Angola, Algeria and South Africa.”

Economic Confidential as quoted by 247ureports says:

When asked about the likelihood of African countries’ foreign reserves being dominated by the yuan rather than the dollar or euro, Fan replied, “We expect that in the next five years, roughly 20 per cent of the African total reserves of $500bn will go renminbi.

“As the dollar loses its value and the euro stands on the edge of the cliff, the renminbi has posed as the best choice at the moment for the African Central Bank reserve portfolio.”

And from the above, someone will say America will sit back and watch the giant of Africa put sand-in-their-garri!

Caseless:
those people can never be taken as not being behind our problem- they always want us under their feet.
I can't wait for US to fall.

God's own country? fall You will wait till eternity then.

Mumu. What is so special about this useless country that USA will bring down.
A big for nothing nation riddled with poverty,corruption, religious hypocrites,lousy persons,poor infrastructure,insecurity, tribalism with wasteful individuals.
You guys import nearly everything and cannot even produce tissue paper.Singapore is a small city like country and is more use useful, sensible and respected on the international scene.
Most Nigerians are devoid of critical thinking and are delusional.
Why can't you learn from Asia?A continent filled with quiet, silent individuals and are highly industrious with less engagements in frivolities unlike this country Or has america stopped these countries from developing too.
Crazy people...

Any country and any leader that doesn't play and dance to the tune of the US,automatically becomes an enemy of the US. History is there to confirm this;just do your little research. I used to love America but right now,I don't give a Bleep about them. May God give us(Nigerians) the grace to navigate ourselves out of the numerous problems we're facing.

Chemical2:


God's own country? fall You will wait till eternity then.

Lol, and they are chasing the same God out of his country?
When Israel tried it you know how the story ended.

I just don't get the hullabaloo over America's decision to stop purchasing our oil. America is a sovereign nation that can decide what to do with their money same as Nigeria. Nigerians are acting as if America buying our oil is our birthright. America is a customer and they have the choice of buying from wherever they please at any time they please. They don't even have to justify or give reasons for their decisions. We should also look for other customers.

lokoloko84:
Mumu...

That's the sound made by a cow!
Yea we know must identify with your species.

Ok noticed! Now run along, Nigerians want to discuss.

In 2010, Nigeria was declared the most corrupt nation in the world ahead of afgan, somalia, iraq, north korea, cuba,russia etc... What I heard was that Yar'adua wanted to build a relationship with china ( we give them oil, they (china) help us develop infrastructurally)..buh dat wud mean greatly reducing d barrels of oil we supply to d US. After the demise of Yaradua, we quickly dropped to number 40 on the corruption table .... USA is part of awa problem, buh we choose to allow them cos of the selfishness of our leaders... If we av a leader with an iron fist, we don't need the US to become a first world nation..............we av the resources and man power ...we really need our leaders to take d lead.........

akinsadeez:
I just don't get the hullabaloo over America's decision to stop purchasing our oil. America is a sovereign nation that can decide what to do with their money same as Nigeria. Nigerians are acting as if America buying our oil is our birthright. America is a customer and they have the choice of buying from wherever they please at any time they please. They don't even have to justify or give reasons for their decisions. We should also look for other customers.

Yes


But this is global politics which can be influenced using global trade.


The solution is to make our States LGAs and Private Sector the vanguard of our economic diversification, growth and development.

These 3 can be achieved through the following


Resource control

Fiscal federalism

Privatization

Political federalism

Decentralization of Nigeria

Restructuring of Nigeria

Institutions submitting their quarterly activities to public scrutiny


Which are the fastest route to freeing Nigeria from neocolonialism and helping us attain the status of a super power.

papaejima1:


Previously the US could do no wrong as far as I was concerned, but sometime this year I sat down to critically examine the US and its actions towards Nigeria. Honestly, I don't think or even see anything altruistic in their behaviour towards us.

They are working actively to undermine the nation. It doesn't matter who is at the top, GEJ or GMB, so long as you refuse to be a puppet, then you are a marked man.

We need to wise up!

from the onset, i've always seen them as being behind our problems. They predicted that we'll be having suicide bombers and , jst as we were about rounding up the year with the thought that the prediction might not come through- they gave us that staged-underpant-bombing event. They Connived with Abdulmutalab to kickstart insurgency and suicide bombing in Nigeria.

papaejima1:


That's the sound made by a cow!
Yea we know must identify with your species.

Ok noticed! Now run along, Nigerians want to discuss.

Who cares.Most of you are empty suit by the way.
For as long as unreasonable persons like you continue to fill this space and country, then Nigeria will still be in a state of disgrace.
Only a failed nation will blame other countries for her misfortunes.

Chemical2:


God's own country? fall You will wait till eternity then.

they want us to split, are we satan's own country? Nigeria is God's own country, too. If they want destruction for us, same is our wish for them.

lokoloko84:
Who cares.Most of you are empty suit by the way.
For as long as unreasonable persons like you continue to fill this space and country, then Nigeria will still be in a state of disgrace.
Only a failed nation will blame other countries for her misfortunes.

What part of the word 'Noticed' did you not understand?

akinsadeez:
I just don't get the hullabaloo over America's decision to stop purchasing our oil. America is a sovereign nation that can decide what to do with their money same as Nigeria. Nigerians are acting as if America buying our oil is our birthright. America is a customer and they have the choice of buying from wherever they please at any time they please. They don't even have to justify or give reasons for their decisions. We should also look for other customers.

I would have agreed with you if America had not given the flimsy excuse of not buying our oil because they now produce enough. Even more than they need. But in the same vein ramping up their oil imports from alternative markets.

If you are into business, you will know the value of one customer and if he happens to be your biggest customer deciding to quit buying from you.

Companies don't have customer care, customer relationship mgt and Value added services for fun. It is to enable them keep the ones they have.

Like it or not this is the raw fact, a true economic analysts knows this.
The intensivity of insurgency, the malignancy of western media on gej govt lately, refusals to sell weapons, the outbreak of deadly diseases on WA . You can connect d dots .
Nigeria is facing a trying times of which if overcomed will be great nation to reckon with.
Kudos to NOI (finance minister).

WhiteTechnology:




Yes


But this is global politics which can be influenced using global trade.


The solution is to make our States LGAs and Private Sector the vanguard of our economic diversification, growth and development.

These 3 can be achieved through the following


Resource control

Fiscal federalism

Privatization

Political federalism

Decentralization of Nigeria

Restructuring of Nigeria

Institutions submitting their quarterly activities to public scrutiny


Which are the fastest route to freeing Nigeria from neocolonialism and helping us attain the status of a super power.

White I concur!
Many may disagree with you because they want it ready made but truth shines like the sun.

Even the US is so structured.
I was shocked to read some time ago that individual states in the US even have their own currencies outside the dollar with exchange rates against the dollar. Don't knw if its still the case now.

Right now all I want is who can put Nigeria on a sound economic and technological footing irrespective of party affiliation.

Let's do the right thing so this generation won't end up with frustrated dreams like past ones!