Neoteny:
Stockpiling it for PDP loot all over again.

Pataricatering:
Is it foreign reserves they would use to fund infrastructure ? Go and do your research before commenting !

baralatie:

are you referring to the current practice of fg?

spartacus11:


And u people will say PMB is a dullard, and u don't know d use or importance of foreign reserve?

Hmmmm no wonder d phd presido almost empty d reserve

obailala:
Oh yes I'm an illiterate. So kindly educate me on all you've just mentioned above please. Kindly explain how recessions happen and how Nigeria's lack of forex reserves was not a factor. I'm keen on learning your stellar economic theories.

OnucheAdams:


He is indeed a dullard, and a good one at that too.


https://www.thebalance.com/foreign-exchange-reserves-3306258

GavelSlam:

Fixed.

OnucheAdams:


You are the one who needs to conduct further research; Countries use their reserves to fund critical infrastructure needs and boost spending in times of economic recession.

https://www.thebalance.com/foreign-exchange-reserves-3306258

OnucheAdams:


He is indeed a dullard, and a good one at that too.


https://www.thebalance.com/foreign-exchange-reserves-3306258

GavelSlam:


It would never happen.

PDP are only trying their luck.

spartacus11:


Thank u PMB for increasing the reserve we know the true duladino, before the end of 2019 we will clock $50billion by 2023 we will be above $70billion

If you and ur jumno and pdp are not dullardino u will know d importance of increasing ur reserve

OnucheAdams:


I was - and is still - an advocate for floating the Naira. Had Buhari towed that path, the Naira certainly wouldn't have ballooned to 500, and would have found its level at circa 300. The spike in exchange rate was due to the heightened uncertainty brought about by inconsistent Government policies, which further created room for speculators...

The amounts spent subsidizing the Dollar should have gone towards building sustainable infrastructure....

Jaideyone:
funny guy. if he floated the naira then it will go as high as 700/800 at least!!!

PrecisionFx:


U mean like he's a dullard³ , like a professional.

PrecisionFx:



So why hasn't buhari el Sai baba used the Foreign reserves to fund critical infrastructure.

spartacus11:


Thank u PMB for increasing the reserve we know the true duladino, before the end of 2019 we will clock $50billion by 2023 we will be above $70billion

If you and ur jumno and pdp are not dullardino u will know d importance of increasing ur reserve

bigpicture001:
..am genuinely sorry about those insults...now lemme explain..when a nation creates it's budget like Nigeria where all natural resources is owned by the Central govt.and where 98% of national income comes from sale of proceed from this resource ; oil.govt tend to fix an estimated price which it hopes to seel it crude tru out that year.and if aggressive by the national assembly the price is called a benchmark..now when the financial year begins and govt finds the price of crude rise above the statutory agreed price of the oil price..they remove the revenue acrued by the stipulated at nd the excess of it is saved for the country in a foreign acct..that is what forms majority of this foreign reserve fund..this fund can be used to fund a deficit budget as approved by the senate or the executive. now wen the country is in dire need for money, either cause of huge fall in the price of oil: nigeria's mainstay in the economy or there is a sudden need to beef up security. like that threat us sherd by boko haram..nd when the budget can fund such projects..the executive initiate a plan to dip hand into this fund to defend the nation, just like buhari recently announced..renember Jonathan ruled 6years nd fought the worst wars against a very dangerous boko haram through out his tenure..hence the depletion of the fund.now let's talk about recession..when recession sets in in a an economy, it's because there exist a very damaging lack of confidence existed by the consumers on the availability of money supply..this lack of confidence breeds decreased spending habit nd hence drastically lowers the nation's aggregate demand,which in turn slows down production nd hence leads to layoff if workers..when buhari cane on board,he halted all govt fiscal spending for too long nd at the same time introduced massive tax policies to soak up all the funds in the system to govt,without flowing in new funds. there gradually exist is ted fear of very serious scarcity of money,hence the panic nd aggregate demand shrunk to it lowest nd hence called recession..you might want to say that govt revenue drop ed cuz of low oil price,so the hv nothing to spend on fiscal stabilisation. but hey,who stops govt from borrowing, or use some part of the reserve fund..never! instead the govt minister made a mistake of trying to internally self fund the country to attain growth..that was a mistake..that was y there were lots of suffering and suicide. the govt indirectly caused all dox death...

bigpicture001:
..am genuinely sorry about those insults...now lemme explain..when a nation creates it's budget like Nigeria where all natural resources is owned by the Central govt.and where 98% of national income comes from sale of proceed from this resource ; [b]oil.govt tend to fix an estimated price which it hopes to seel it crude tru out that year.and if aggressive by the national assembly the price is called a benchmark..now when the financial year begins and govt finds the price of crude rise above the statutory agreed price of the oil price..they remove the revenue acrued by the stipulated at nd the excess of it is saved for the country in a foreign acct..that is what forms majority of this foreign reserve fund..[/b]this fund can be used to fund a deficit budget as approved by the senate or the executive. now wen the country is in dire need for money, either cause of huge fall in the price of oil: nigeria's mainstay in the economy or there is a sudden need to beef up security. like that threat us sherd by boko haram..nd when the budget can fund such projects..the executive initiate a plan to dip hand into this fund to defend the nation, just like buhari recently announced..renember Jonathan ruled 6years nd fought the worst wars against a very dangerous boko haram through out his tenure..hence the depletion of the fund.now let's talk about recession..when recession sets in in a an economy, it's because there exist a very damaging lack of confidence existed by the consumers on the availability of money supply..this lack of confidence breeds decreased spending habit nd hence drastically lowers the nation's aggregate demand,which in turn slows down production nd hence leads to layoff if workers..when buhari cane on board,he halted all govt fiscal spending for too long nd at the same time introduced massive tax policies to soak up all the funds in the system to govt,without flowing in new funds. there gradually exist is ted fear of very serious scarcity of money,hence the panic nd aggregate demand shrunk to it lowest nd hence called recession..you might want to say that govt revenue drop ed cuz of low oil price,so the hv nothing to spend on fiscal stabilisation. but hey,who stops govt from borrowing, or use some part of the reserve fund..never! instead the govt minister made a mistake of trying to internally self fund the country to attain growth..that was a mistake..that was y there were lots of suffering and suicide. the govt indirectly caused all dox death...

givan:
$36.9 billion - $1billion =...

python1:

Yes, the answer is $35.9b, but the question now is; why did this same reserve drop from $47b to close to $30b when the income was high as compared to same reserve on the increase now at averagely half of the previous income? What exactly was done with it? It should had increased to close to $100b considering the nation's income then, but even if it did not increase, why not maintain it at that value? Why dropping it again?

bigpicture001:
..kindly explain how PDP killed the economy?

OnucheAdams:


I was - and is still - an advocate for floating the Naira. Had Buhari towed that path, the Naira certainly wouldn't have ballooned to 500, and would have found its level at circa 300. The spike in exchange rate was due to the heightened uncertainty brought about by inconsistent Government policies, which further created room for speculators...

The amounts spent subsidizing the Dollar should have gone towards building sustainable infrastructure....

OnucheAdams:


You are the one who needs to conduct further research; Countries use their reserves to fund critical infrastructure needs and boost spending in times of economic recession.

https://www.thebalance.com/foreign-exchange-reserves-3306258

obailala:
It's only wise to do that when you already have something tangible resting in thr reserves. For an import dependent country, a buoyant forex reserve is like the very backbone of economic survival. The whole economic crisis Nigeria's been through in the last 3 years and the whole recession would never had happened if Nigeria had buoyant reserves.

givan:
$36.9 billion - $1billion =...

life2017:
This is one of the reason we must support Buhari for 2019. The reserve is rising because of Buhari conservatism and focus on local alternative to imports.

If we bring in liberal PDP in the name of Atiku, the reserve will deplete very fast.