Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,195,024 members, 7,956,791 topics. Date: Monday, 23 September 2024 at 07:03 PM |
Nairaland Forum / Nairaland / General / Politics / Inside Nigerias Foreign Reserves. (1721 Views)
Foreign Reserves Shed $5.09bn In Four Months / British court orders Irish firm to seize $9b Nigeria’s foreign reserves / Foreign Reserves Decline By $2.3bn In 11 Weeks (2) (3) (4)
Re: Inside Nigerias Foreign Reserves. by SternProphet: 10:48pm On May 30, 2018 |
plaetton: GEJ depleted the foreign reserves pure and simple. It was done at two levels (i) outright stealing at NPDC and NNPC and (ii) at the policy level via uncontrolled importation of Dubai consumer goods, petroleum products and food. The truth was GEJ was always too weak and unintelligent to manage anything properly. If there had been no NOI , Nigeria's problems would have been more serious and would have started in 2013. He excuse that Nigeria fighting Boko Haram was a cause of Forex depletion is a shameful lie. Look at the defence budget through out GEJ era, it was loaded on the recurrent side. It was food, diesel and allowances that consumed the money. These items were bought in Naira. Nigeria was under some arms embargo and we never spent at Forex depleting levels to buy arms. All in all, GEJ era was a very stupid, loose, undisciplined and wasteful period in Nigeria's history. The man was slack and too grateful to be President so he could not crack the whip and institute austerity measures. The most unwitting insult to the simpleton of a man is this new one that he "initiated" BVN, TSA and others but he did not implement them because of the consequences or dome rambling idiocy along those lines. First of all, he did not initiate any of these things. Some civil servants or their consultants did. Why we elect Presidents is to muster political will to implement favourable programs for the people. The guy failed, pure and simple and the country is in PAIN now for it. Only God can forgive the suffering and family dislocations caused by the wasted opportunity of >$80per barrel oil for at least 5 of the 6 years. 1 Like |
Re: Inside Nigerias Foreign Reserves. by Banmeallday: 10:49pm On May 30, 2018 |
Meanwhile they continue to borrow billions because they take their orders from Queen eliza |
Re: Inside Nigerias Foreign Reserves. by RZArecta2(m): 10:59pm On May 30, 2018 |
honeychild:I'm not the author of the article, it was written by a Mr Feyi Fawehinmi. To your questions, I believe everything was explained in the post. There is forex available ie foreign reserve available but not as much at hand as the FG wants you to believe, when you need anything, your bank handles the transactions for you. So yes, the situation is not as bad as 2016 when all banks had a very limited amount of forex per month to disburse, your demands will be met by your bank, the question is for how long ? |
Re: Inside Nigerias Foreign Reserves. by RZArecta2(m): 11:02pm On May 30, 2018 |
SternProphet:utter rubbish, like I said earlier on, it's a waste of precious time schooling you simpletons |
Kwankwaso Can’t Contest Presidency With Buhari In Kano – Sen. Gaya / Illegal removal of CJN:Urgent need to postpone this elections and avoid violence / Prepare For Tough Time, CBN Gov Emefiele Tells Nigerians
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 25 |