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External Reserves Slip By $905.5 Million In June – CBN - Politics (3) - Nairaland

Nairaland Forum / Nairaland / General / Politics / External Reserves Slip By $905.5 Million In June – CBN (6886 Views)

Nigeria’s Foreign Reserves Slip By $915 Million Amid Forex Market Liberalization / External Reserves Slides To 27 Months Low / My Tenure Expires In June, CBN Governor Reacts To His Rumoured Removal (2) (3) (4)

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Re: External Reserves Slip By $905.5 Million In June – CBN by Joetttimua1811(m): 12:17pm On Jul 02, 2021
The government we voted... Congratulations to us
Re: External Reserves Slip By $905.5 Million In June – CBN by Sirjamo: 1:06pm On Jul 02, 2021
nairanaira12:


Lolz.

Your own destiny doesn't deserve medical trip to London. Your own destiny is to defend those who spend your patrimony for medical trip to London.

Are you saying your destiny is that of a mental slave?

What a cursed destiny you have. cheesy
All your PDP slave masters also go for medical trips abroad, after stealing your three generation to stupor.


Patient Jonathan spent eight months in German hospital while her husband was president. Did Jonathan send your wife or your mother to German hospital?
Re: External Reserves Slip By $905.5 Million In June – CBN by nairanaira12: 1:12pm On Jul 02, 2021
Sirjamo:
All your PDP slave masters also go for medical trips abroad, after stealing your three generation to stupor.


Patient Jonathan spent eight months in German hospital while her husband was president. Did Jonathan send your wife or your mother to German hospital?

Lolz. You are as dumb and stupid as they come. In your dumb empty head, anyone not licking buhari's ass is automatically a PDP member.

Boy, your dumbbess has no equal
Re: External Reserves Slip By $905.5 Million In June – CBN by Sirjamo: 1:40pm On Jul 02, 2021
nairanaira12:


Lolz. You are as dumb and stupid as they come. In your dumb empty head, anyone not licking buhari's ass is automatically a PDP member.

Boy, your dumbbess has no equal
What could be dumber than insinuating that one should enjoy the same privileges with the politician you support and defend?


By your foolish logic, every single one of us who voted for this government should enjoy a medical or luxury trip abroad, even if we are not sick.

Anytime Buhari or his family members are in the news for one luxury or the other, you always rush to mention me with your leprous fingers.


I am not surprised by your denial of your beloved Poverty Development Party, that's what majority of you PDP dundees do on this forum.
Re: External Reserves Slip By $905.5 Million In June – CBN by nairanaira12: 1:51pm On Jul 02, 2021
Sirjamo:
What could be dumber than insinuating that one should enjoy the same privileges with the politician you support and defend?


By your foolish logic, every single one of us who voted for this government should enjoy a medical or luxury trip abroad, even if we are not sick.

Anytime Buhari or his family members are in the news for one luxury or the other, you always rush to mention me with your leprous fingers.


I am not surprised by your denial of your beloved Poverty Development Party, that's what majority of you PDP dundees do on this forum.

You are dumb to praise a man that is only known for breaking electoral promises.

He promised to stop medical tourism and was the first one to break that promise. Yet, your brain didn't tell you that you are a cursed man.

Your country is borrowing money to pay salaries, yet your president can afford to send his wife on vacation in Dubai. Boy, your soul is lost.

The education system in your country is dead and your president conveniently sponsored his kids in UK universities. If that doesn't tell you that your Brian is rotten, nothing can.
Re: External Reserves Slip By $905.5 Million In June – CBN by RiceProducers: 1:56pm On Jul 02, 2021
sweetshisha:




Something is fvcking wrong with Buhari, Zainab Ahmed and Godwin Emefiele

Price of crude oil is relatively high

Crude oil price according to the budget price benchmark is higher so we should have excess forex

Forex is not released to importers of many products


What the fvck is depleting our fvcking foreign reserves??!


.

Nigeria is importing a lot of petrol. Importing defence hardware and paying off loans. When Dangote Refinery and other Refineries come on stress it will be very very good for the Naira
Re: External Reserves Slip By $905.5 Million In June – CBN by ibedun: 2:24pm On Jul 02, 2021
onuman:
Naira value is becoming like Somalia currency in valuelessness.
This administration brought disaster to Nigeria.

You don’t like made in Nigeria! That’s the problem not Buhari. Stop this stupidity abeg.
Re: External Reserves Slip By $905.5 Million In June – CBN by Sirjamo: 2:42pm On Jul 02, 2021
nairanaira12:


You are dumb to praise a man that is only known for breaking electoral promises.

He promised to stop medical tourism and was the first one to break that promise. Yet, your brain didn't tell you that you are a cursed man.

Your country is borrowing money to pay salaries, yet your president can afford to send his wife on vacation in Dubai. Boy, your soul is lost.

The education system in your country is dead and your president conveniently sponsored his kids in UK universities. If that doesn't tell you that your Brian is rotten, nothing can.
So, in your wet dreams, you saw it that Buhari's Children start schooling abroad, his wife starts going to Dubai and he himself starts going abroad for medicals when he became President?
Re: External Reserves Slip By $905.5 Million In June – CBN by FarahAideed: 3:04pm On Jul 02, 2021
This is the same economy officialgarri wants me to believe will grow by 4.2% this month cheesy cheesy. Clowns everywhere grin
Re: External Reserves Slip By $905.5 Million In June – CBN by vioment: 4:20pm On Jul 02, 2021
When the daft Oga wey we get, is not economically savvy. The guy is all about authoritarian moves and tribal/religious conquest.



The next leader should be a southerner.
The next leader should strongly consider extending or moving the capital to a place of comfort on day 1. For me na Lagos or calabar. In my inner heart, I no mind am for enugu. But just for fairness, I will do calabar or Lagos. And then 75% of the ministers will be southerners.
Then, 60% of my project focus will be in the south.


On day 2, I will write to that terrorist group of Islamic nations that we will not be a terrorist nation no more, so they can scratch us off from their members list. We no go pay dues or members fee again. On the same day 2, anti grazing law will be in effect nationwide. On that same day 2, in my comfort capital, hisba and sharia law will be declared illegal.


The next leader need to have a lion heart. Block your ears like Buhari.

I will keep the country close to Israel and the USA. New allies.
Re: External Reserves Slip By $905.5 Million In June – CBN by onuman: 4:50pm On Jul 02, 2021
ibedun:


You don’t like made in Nigeria! That’s the problem not Buhari. Stop this stupidity abeg.
When a midget writes; when an ethnoreligious bigot writes..

Some of you can cover your eyes and follow Buhari in a battlefields, as he leads you to disaster.
Made in Nigeria - only in your village.
Re: External Reserves Slip By $905.5 Million In June – CBN by nairanaira12: 6:41pm On Jul 02, 2021
Sirjamo:
So, in your wet dreams, you saw it that Buhari's Children start schooling abroad, his wife starts going to Dubai and he himself starts going abroad for medicals when he became President?


Lolz. You are dumb. When did her daughter graduate from University on 4th December 2019, 4 years and 6 months after her father became president. In case you don't know, degree programme in the UK requires 4 years.

Buhari had no money to buy nomination form in 2014. Or have you forgotten? Can a man without nomination form.money sponsor Dubai trip for his wife?
Re: External Reserves Slip By $905.5 Million In June – CBN by johnnygan(m): 9:11pm On Jul 15, 2021
Deltafirstson:



https://punchng.com/external-reserves-slide-further-lost-905-5m-in-june-cbn/


So what were they thinking when they shut down crypto, twitter and others?

Direct foreign investments my foot
Re: External Reserves Slip By $905.5 Million In June – CBN by IITTA50: 9:18pm On Jul 15, 2021


1. Increasing subsidy payments as it is becoming more expensive to keep fuel at a cheap price with rising oil prices meaning increase in the cost of refining fuel. Then subsidy makes it unprofitable to refine at home because domestic refinreis cannot set their prices and thus cannot make a profit on refining petrol here.

2. Oil has not been as high as we want it . We should have had oil at $133 for a balanced budget not the $80 it is ( breakeven price)

3. Because oil has not been as high as we want it to be we have to borrow to keep our heads above water. Paying back our debts is difficult.

Recall that the oil price has been volatile since 2014. Atimes it has been as low as $24 and as high as $80. Meanwhile our breakeven oil price rose from $122 in 2012 to $139 in 2017.and now $133. When oil is not as high as you need it you take loans to cover the difference
And then you have to pay back the loans.

4. Tax level low. Our tax to gdp ratio is 6.1%. Only 30% of the taxable population pays taxes. As such we are far more dependent on oil for everything (A big reason why NNPC boss Kyari is so insistent on subsidy removal is because it is taking a big bite from government revenues...meaning that government cannot spend money on other things until it has fed the subsidy monster)


5. Corruption and stealing at all levels of government. Inflated claims. Looting..Round tripping. You know the drill.

6. Failure to diversify the economy. Nigeria in particular loses billions to illegal mining. Agriculture is not at the level we need it to be to be a big exporter. And government talks a lot but does nothing. Rice pyramids does not mean that Nigeria has displaced Brazil and Thailand as a major rice producer.

7. Buhari. ( before anyone calls me his supporter which I ain't)

8. Insecurity, boko etc which drives off investors
you sabi this analysis and you no dey central bank, omo na wahala for this country oo. Even if you like be a buharist kilokanmi

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