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Foreign Reserve Drops To $25.209bn - Business (4) - Nairaland

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Naira Makes U-turn, Drops To N385 / Nigeria’s Foreign Reserve Now $27.4bn / Naira Drops To 313.5 As Dollar Shortage Persists (2) (3) (4)

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Re: Foreign Reserve Drops To $25.209bn by Pidggin(f): 7:10am On Aug 24, 2016
DropShot:
[s]
You're just too empty for me to engage in any meaningful discuss. Get quality education and life experience before dabbling into what is obviously beyond your intellectual capacity.
[/s]

Lol with all your imagined intellectual abilities your arguments are never based on facts and figures but to brainwash people with repeated false posts and propaganda

E pain am grin

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Re: Foreign Reserve Drops To $25.209bn by tomysyngr8(m): 7:49am On Aug 24, 2016
enough..... you getting what you want from the country, every 9ne of us know the truth but We keep murmuring as if that will ease things.Let do the right thing on time and see if the change will not surface. what's happening is change !
Re: Foreign Reserve Drops To $25.209bn by damon222: 8:36am On Aug 24, 2016
sCun:
Thought they said Jonathan left nothing in the foreign reserves? Is it the dog called Buhari that dropped this one there?
Dog ke? Dog is far wiser that Buhari.

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Re: Foreign Reserve Drops To $25.209bn by obailala(m): 8:39am On Aug 24, 2016
luvinhubby:


And the economy was never in recession in all those periods.
Like I said before, why dont you just reason wisely without allowing your prejudice to block your judgement?... If a man loses his job today, would the hunger and kwashiokor appear immediately?... I'm sure you know these things but the prejudice you have against the government keeps getting on the way of your objectivity.

Talking about recession, are you not aware that as soon as oil prices began to crash, our growth rate began a steady decline?... That it got to the negative realm in 2016 does not mean the problem started in 2016. Make una try dey reason like educated people small abeg else you just make these arguments on this site very boring; I know you are not a kid and neither are you an illiterate.
Re: Foreign Reserve Drops To $25.209bn by damon222: 8:42am On Aug 24, 2016
luvinhubby:
The irony of this whole economic saga is that cargo volume of imports in our wharfs dropped by 50%, 41 items ( including monster forex consumers like fuel & rice), have been blacklisted from CBN forex sales & the reseves keep dwindling.

So who & what is depletting our reserves?

We'll keep praying.
Just ask Lai Mohammed, he will say everything including reserves are ok and that nothing is depletting. If we are not wise come 2019, these most incompetent dullest Buhari and his people will finish this country completely and will still refuse things are working.

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Re: Foreign Reserve Drops To $25.209bn by Themandator: 9:10am On Aug 24, 2016
luvinhubby:
The irony of this whole economic saga is that cargo volume of imports in our wharfs dropped by 50%, 41 items ( including monster forex consumers like fuel & rice), have been blacklisted from CBN forex sales & the reseves keep dwindling.

So who & what is depletting our reserves?

We'll keep praying.

Niger Delta avengers and boko haram.. . Fulani herdsmen are not even in the equation yet.
Re: Foreign Reserve Drops To $25.209bn by Themandator: 9:18am On Aug 24, 2016
obailala:
Like I said before, why dont you just reason wisely without allowing your prejudice to block your judgement?... If a man loses his job today, would the hunger and kwashiokor appear immediately?... I'm sure you know these things but the prejudice you have against the government keeps getting on the way of your objectivity.

Talking about recession, are you not aware that as soon as oil prices began to crash, our growth rate began a steady decline?... That it got to the negative realm in 2016 does not mean the problem started in 2016. Make una try dey reason like educated people small abeg else you just make these arguments on this site very boring; I know you are not a kid and neither are you an illiterate.

Your type knows how to reason for all this while but refused to make use of it under the last government but resorted to insult.

Do you imagine the last government doesn't know what it was do get when it embarked on discriminatory implementation of tsa or you don't know that the needless aggressive pursuit of tsa is a major reason for the decline.

Our monies with commercial banks are not and weren't missing or stolen as they had documents on them otherwise, an order to return them to CBN would not have done it.

1 Like

Re: Foreign Reserve Drops To $25.209bn by Tokt: 9:30am On Aug 24, 2016
Pidggin:
You will not find dropshot/passingshot, NgeneUkwenu, omenka, HungerBAD, fulanimafia, QuotaSystem, Tokety7 aka Tokt on this thread grin

These people said GEJ left nothing in our foreign reserve, my people see as fowl yansh don open cheesy

Can u swear on this with ur seeds. Do this and I will take u serious.

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Re: Foreign Reserve Drops To $25.209bn by luvinhubby(m): 9:34am On Aug 24, 2016
obailala:
Like I said before, why dont you just reason wisely without allowing your prejudice to block your judgement?... If a man loses his job today, would the hunger and kwashiokor appear immediately?... I'm sure you know these things but the prejudice you have against the government keeps getting on the way of your objectivity.

Talking about recession, are you not aware that as soon as oil prices began to crash, our growth rate began a steady decline?... That it got to the negative realm in 2016 does not mean the problem started in 2016. Make una try dey reason like educated people small abeg else you just make these arguments on this site very boring; I know you are not a kid and neither are you an illiterate.

Standing logic on it's head.
You reduced over 50% of your expenses at the same time losing your savings despite the fact you are still earning salary, no matter how small, worst still the economy crashed, that is the hallmark of failed economic management.

1 Like

Re: Foreign Reserve Drops To $25.209bn by obailala(m): 9:48am On Aug 24, 2016
Themandator:


Your type knows how to reason for all this while but refused to make use of it under the last government but resorted to insult.

Do you imagine the last government doesn't know what it was do get when it embarked on discriminatory implementation of tsa or you don't know that the needless aggressive pursuit of tsa is a major reason for the decline.

Our monies with commercial banks are not and weren't missing or stolen as they had documents on them otherwise, an order to return them to CBN would not have done it.
Oh I see! Implementation of TSA is now the reason behind the economic downturn.
Re: Foreign Reserve Drops To $25.209bn by obailala(m): 10:02am On Aug 24, 2016
luvinhubby:


Standing logic on it's head.
You reduced over 50% of your expenses at the same time losing your savings despite the fact you are still earning salary, no matter how small, worst still the economy crashed, that is the hallmark of failed economic management.
I'm curious to know the upright logic through which you arrived at 50% reduction in expenses?... Just before you start explaining your logic, the CBN blocking the granting of forex for 41 items, that doesnt mean the items have stopped being imported. Rather it means the importers of those items now have to get their forex from the black market (which still represents overall forex flight from Nigeria).

So I am curious to know how you arrived at this 50% figure, did Nigerians stop importing foods like rice or wheat, or did we stop importing petroleum products or did we stop granting foreign businesses like airlines the forex equivalent of their income which they remit to their countries?.. Where exactly did this 50% figure come from?.....

And just a final reminder, global price of oil has dropped in the range of like 60-70% and in addition, oil production has also dropped significantly, thanks to the avengers. So let's assume our imports have really dropped by 50% like you claim; a 60-70% drop in forex income paired with an alleged 50% drop in imports, do those figures sound equal to you?.... And yet you still ask why the foreign reserves drops?.. Oh I forgot, 'it just has to be Buhari the dullard.'

Bros... I'm sure you know better than this, but the deep prejudice you have has certainly blocked everything.
Re: Foreign Reserve Drops To $25.209bn by cliquevibes(m): 12:07pm On Aug 24, 2016
OkoNDOoBo:

Mr man shut up.!!! The fall of nigeria's economy was inevitable because of three things
The dependence on crude oil
Dependence on importation
And lootings of national treasury
The previous minister of finance already start borrowing when crude oil was $76 what will be the fate of nigerias economy now dat the crude oil is at $40..?

And you want buhari to turn things around within a year like magician abi..?
You better goan sleep ur empty skull gringrin
I can see dat wat u ave is an Empty vessel dat u call a Head, Maybe ur head is even a show-glass sef, Keep blaming d man, lyk I said, d man had his faults but he also had his achievement.....

And I thought u had a Brain for reasoning, didn't knw dat it was jst an artifact dat u were keeping in dat a museum of a head...MUMU

1 Like

Re: Foreign Reserve Drops To $25.209bn by Themandator: 4:05pm On Aug 24, 2016
obailala:
Oh I see! Implementation of TSA is now the reason behind the economic downturn.


Tsa is not for an economy in recession. The aggressive pursuit of tsa is an underlining factor worsening the slide to recession.

The government that introduced tsa picked phase implementation because the economy wasn't strong enough for such.. Obama had to give fund to the banks and manufacturing sectors during their meltdown and not the other way round as it happening in Nigeria.. Nigeria's money with commercial banks are not missing or stolen.. . We have documents trail to them.

1 Like

Re: Foreign Reserve Drops To $25.209bn by Nobody: 1:46am On Aug 26, 2016
ireneony:
God help this country undecided
pls folo back, I just did

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